Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Axon Enterprise, Inc $AXON

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 15.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,909 shares of the biotechnology company’s stock after buying an additional 7,286 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Axon Enterprise were worth $30,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC boosted its stake in shares of Axon Enterprise by 3.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after acquiring an additional 15 shares in the last quarter. Synergy Financial Group LTD grew its holdings in shares of Axon Enterprise by 1.4% in the 3rd quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock worth $996,000 after acquiring an additional 19 shares during the period. Tower Research Capital LLC TRC increased its stake in Axon Enterprise by 1.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company’s stock valued at $1,350,000 after purchasing an additional 19 shares in the last quarter. Certuity LLC increased its stake in Axon Enterprise by 5.1% in the 4th quarter. Certuity LLC now owns 474 shares of the biotechnology company’s stock valued at $269,000 after purchasing an additional 23 shares in the last quarter. Finally, Pure Financial Advisors LLC raised its holdings in Axon Enterprise by 6.7% during the fourth quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 23 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AXON. The Goldman Sachs Group reiterated a “buy” rating and set a $715.00 target price on shares of Axon Enterprise in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Morgan Stanley boosted their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Piper Sandler boosted their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $730.92.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $615.59 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The stock has a fifty day moving average of $523.52 and a two-hundred day moving average of $473.43. The company has a market capitalization of $50.01 billion, a price-to-earnings ratio of 255.43, a PEG ratio of 12.24 and a beta of 1.39. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $794.29.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The business’s revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.12 earnings per share. On average, analysts anticipate that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the transaction, the insider directly owned 52,813 shares in the company, valued at approximately $21,125,200. This represents a 3.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the sale, the chief executive officer directly owned 3,060,997 shares in the company, valued at $1,530,498,500. This represents a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 68,989 shares of company stock worth $36,016,932 in the last ninety days. Company insiders own 4.20% of the company’s stock.

Key Axon Enterprise News

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Strong Q2 results and raised outlook: Axon exceeded expectations with adjusted earnings of $1.88 per share versus $1.84 expected and revenue of $904.4 million versus $876.4 million expected. Revenue grew 35.3% year over year, and management’s improved outlook supports the long-term growth story. Should You Buy, Hold or Sell AXON Stock Post Q2 Earnings Release?
• Positive Sentiment: Connected Devices momentum: TASER devices, body cameras and counter-drone products are driving strong hardware demand. Continued adoption of these products, combined with Axon’s cloud-based evidence and records software, reinforces the company’s integrated platform strategy. Will Strength in Connected Devices Unit Continue to Drive AXON’s Growth?
• Positive Sentiment: Bullish strategic commentary: Analysts highlighted Axon as a strong contender in law-enforcement technology, while coverage pointed to new artificial-intelligence capabilities as an additional growth catalyst for public-safety customers. Axon: A Strong Contender in Law Enforcement Tech
• Neutral Sentiment: Technical consolidation: AXON remains in a strong broader uptrend but has recently consolidated, leaving investors watching whether momentum resumes or the rally pauses. Stock of the Day: Is the Axon Rally Over?
• Negative Sentiment: Valuation and profitability risks: Despite strong revenue growth, analysts cautioned that Axon’s high earnings multiple, elevated costs, debt and relatively modest margins reduce its near-term appeal. Memory costs and counter-drone investments could also pressure profitability if spending rises faster than sales.
• Negative Sentiment: CEO share sale: CEO Patrick Smith sold 9,930 shares worth approximately $5.45 million. The transaction occurred under a pre-arranged Rule 10b5-1 plan and represented only 0.33% of his holdings, making it a limited signal but a potential source of investor caution.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.