Farmers & Merchants Investments Inc. Buys 282,151 Shares of Axon Enterprise, Inc $AXON

Farmers & Merchants Investments Inc. increased its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 627,002.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 282,196 shares of the biotechnology company’s stock after buying an additional 282,151 shares during the period. Axon Enterprise accounts for approximately 2.8% of Farmers & Merchants Investments Inc.’s portfolio, making the stock its 8th largest holding. Farmers & Merchants Investments Inc.’s holdings in Axon Enterprise were worth $119,233,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AXON. State Street Corp boosted its holdings in shares of Axon Enterprise by 5,700.2% during the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock worth $119,724,905,000 after purchasing an additional 209,879,882 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Axon Enterprise by 18,050.2% during the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock valued at $7,400,094,000 after purchasing an additional 13,127,348 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Axon Enterprise by 391,214.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock valued at $2,952,943,000 after buying an additional 6,987,098 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Axon Enterprise by 5,022.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after purchasing an additional 4,183,302 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Axon Enterprise by 8,432.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock worth $1,983,414,000 after purchasing an additional 3,496,493 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $420.37 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $764.02. The business has a 50-day moving average of $480.64 and a 200-day moving average of $473.90. The company has a market capitalization of $34.15 billion, a price-to-earnings ratio of 174.43, a PEG ratio of 7.88 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, topping the consensus estimate 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 for 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 firm’s revenue for the quarter was up 35.3% on a year-over-year basis. On average, equities analysts anticipate that Axon Enterprise, Inc will post 2.10 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In other news, President Joshua Isner sold 16,775 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the transaction, the president owned 296,974 shares of the company’s stock, valued at $170,590,774.82. This represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the sale, the insider directly owned 56,264 shares in the company, valued at approximately $27,032,038.80. This represents a 1.78% 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. In the last three months, insiders sold 47,397 shares of company stock valued at $26,722,984. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AXON shares. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Tuesday, October 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Barclays lifted their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Morgan Stanley raised their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $689.94.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.