Northwestern Mutual Wealth Management Co. Buys 1,090 Shares of Axon Enterprise, Inc $AXON

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 48.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,345 shares of the biotechnology company’s stock after purchasing an additional 1,090 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Axon Enterprise were worth $1,875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXON. Creative Financial Designs Inc. ADV bought a new stake in shares of Axon Enterprise in the 4th quarter worth about $28,000. Keating Financial Advisory Services Inc. acquired a new position in Axon Enterprise in the second quarter valued at about $31,000. AlphaCentric Advisors LLC acquired a new position in Axon Enterprise in the fourth quarter valued at about $34,000. Darwin Wealth Management LLC bought a new stake in Axon Enterprise during the second quarter worth about $37,000. Finally, Strive Financial Group LLC bought a new stake in Axon Enterprise during the fourth quarter worth about $41,000. 79.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Jeffrey Kunins sold 9,605 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $626.70, for a total value of $6,019,453.50. Following the transaction, the insider directly owned 97,761 shares in the company, valued at $61,266,818.70. This represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Smith sold 9,930 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $548.77, for a total transaction of $5,449,286.10. Following the sale, the chief executive officer owned 3,031,067 shares of the company’s stock, valued at $1,663,358,637.59. The trade was a 0.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 56,380 shares of company stock valued at $32,582,366 over the last ninety days. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AXON shares. Morgan Stanley lifted their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Argus raised their price target on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a report on Thursday. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and an average target price of $721.57.

Axon Enterprise Trading Down 4.2%

Shares of AXON opened at $515.67 on Friday. The stock’s fifty day simple moving average is $569.47 and its 200-day simple moving average is $486.24. The firm has a market capitalization of $41.89 billion, a PE ratio of 213.97, a price-to-earnings-growth ratio of 8.74 and a beta of 1.40. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $792.16. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The firm had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same period last year, the company earned $2.12 earnings per share. The company’s revenue was up 35.3% on a year-over-year basis. As a group, research analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Axon Enterprise 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.