Axon Enterprise, Inc $AXON Stock: Pinion Investment Advisors LLC Grows Position

Pinion Investment Advisors LLC grew its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 991.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,548 shares of the biotechnology company’s stock after purchasing an additional 5,948 shares during the period. Pinion Investment Advisors LLC’s holdings in Axon Enterprise were worth $2,767,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. State Street Corp raised its stake in shares of Axon Enterprise by 5,700.2% in the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after acquiring an additional 209,879,882 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Axon Enterprise by 18,050.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock valued at $7,400,094,000 after acquiring an additional 13,127,348 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted 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 acquiring an additional 6,987,098 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Axon Enterprise by 5,022.8% during the 3rd 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 position in Axon Enterprise by 8,432.6% during the 2nd 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 period. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Activity

In other news, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider directly owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the completion of the transaction, the chief executive officer owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 37,397 shares of company stock valued at $21,234,034. Corporate insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group increased their price target on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Northcoast Research boosted their price objective on Axon Enterprise from $650.00 to $680.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. reduced their price objective on Axon Enterprise from $755.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank Of Canada decreased their target price on Axon Enterprise from $735.00 to $615.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Northland Securities set a $540.00 target price on Axon Enterprise in a research note on Friday. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $612.18.

Axon Enterprise Price Performance

Shares of AXON stock opened at $303.18 on Tuesday. The company has a market capitalization of $24.63 billion, a PE ratio of 97.17, a price-to-earnings-growth ratio of 8.06 and a beta of 1.48. The firm has a fifty day simple moving average of $435.58 and a 200-day simple moving average of $473.66. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. Axon Enterprise, Inc has a twelve month low of $296.78 and a twelve month high of $665.07.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.17). Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $908.55 million for the quarter, compared to analyst estimates of $934.33 million. During the same period in the previous year, the business posted $1.17 earnings per share. Axon Enterprise’s revenue for the quarter was up 27.8% on a year-over-year basis. Equities research analysts anticipate that Axon Enterprise, Inc will post 2.10 earnings per share for the current fiscal year.

About Axon Enterprise

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals.

The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.

Founded in 1993 as TASER International, the company adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into connected devices and software.