Resona Asset Management Co. Ltd. Has $74.48 Million Position in Axon Enterprise, Inc $AXON

Resona Asset Management Co. Ltd. boosted its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 11.8% in the third quarter, Holdings Channel reports. The institutional investor owned 103,852 shares of the biotechnology company’s stock after buying an additional 10,999 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Axon Enterprise were worth $74,477,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new position in Axon Enterprise in the 3rd quarter valued at approximately $29,000. Hemington Wealth Management grew its stake in shares of Axon Enterprise by 70.8% in the second quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 17 shares during the last quarter. Whipplewood Advisors LLC increased its holdings in Axon Enterprise by 192.9% in the second quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 27 shares during the period. Root Financial Partners LLC bought a new position in Axon Enterprise during the 3rd quarter worth $34,000. Finally, Darwin Wealth Management LLC acquired a new position in Axon Enterprise during the 2nd quarter worth about $37,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. The Goldman Sachs Group reduced their target price on Axon Enterprise from $940.00 to $800.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday, December 29th. Royal Bank Of Canada started coverage on shares of Axon Enterprise in a research note on Monday, November 17th. They issued an “outperform” rating and a $860.00 price objective on the stock. Finally, UBS Group decreased their price objective on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $805.71.

Axon Enterprise Stock Performance

Shares of AXON opened at $613.14 on Friday. Axon Enterprise, Inc has a one year low of $469.24 and a one year high of $885.91. The company has a market cap of $48.38 billion, a PE ratio of 194.03, a P/E/G ratio of 19.12 and a beta of 1.41. The stock has a 50-day moving average of $576.17 and a 200-day moving average of $676.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The firm had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. During the same period last year, the company posted $1.45 earnings per share. The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. On average, equities research analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction on Monday, December 8th. The shares were sold at an average price of $552.60, for a total value of $11,052,000.00. Following the completion of the sale, the president owned 249,502 shares of the company’s stock, valued at approximately $137,874,805.20. This trade represents a 7.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brittany Bagley sold 2,500 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $610.00, for a total transaction of $1,525,000.00. Following the sale, the chief financial officer owned 91,092 shares of the company’s stock, valued at $55,566,120. This trade represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 60,540 shares of company stock worth $34,684,738 over the last quarter. Corporate insiders own 4.40% of the company’s stock.

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.