Fairscale Capital LLC Buys 7,374 Shares of Axon Enterprise, Inc $AXON

Fairscale Capital LLC purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the third quarter, according to its most recent filing with the SEC. The firm purchased 7,374 shares of the biotechnology company’s stock, valued at approximately $3,116,000. Axon Enterprise accounts for 1.8% of Fairscale Capital LLC’s portfolio, making the stock its 10th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its position 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 worth $119,724,905,000 after acquiring an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake 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 worth $7,400,094,000 after purchasing an additional 13,127,348 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Axon Enterprise by 391,214.9% during the third 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 purchasing 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 third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock valued at $1,802,719,000 after purchasing an additional 4,183,302 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Axon Enterprise by 8,432.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock valued at $1,983,414,000 after purchasing an additional 3,496,493 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AXON shares. UBS Group lifted their target price on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Craig Hallum lowered shares of Axon Enterprise from a “buy” rating to a “hold” rating and set a $390.00 price target for the company. in a research report on Friday. Northcoast Research raised their price target on shares of Axon Enterprise from $650.00 to $680.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Zacks Research cut shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 3rd. Finally, Morgan Stanley lifted 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. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $612.18.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 16,775 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were 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 in the company, valued at approximately $170,590,774.82. This represents a 5.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider owned 97,761 shares in the company, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their position. 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 37,397 shares of company stock worth $21,234,034 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Down 3.1%

Axon Enterprise stock opened at $303.18 on Tuesday. The business’s 50-day simple moving average is $435.58 and its two-hundred day simple moving average is $473.66. 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 company has a market cap of $24.63 billion, a PE ratio of 97.17, a PEG ratio of 8.06 and a beta of 1.48. Axon Enterprise, Inc has a fifty-two week low of $296.78 and a fifty-two week high of $665.07.

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

Axon Enterprise Profile

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.