Eventide Asset Management LLC Has $49.59 Million Stock Position in Axon Enterprise, Inc $AXON

Eventide Asset Management LLC raised its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,104 shares of the biotechnology company’s stock after acquiring an additional 1,783 shares during the quarter. Eventide Asset Management LLC owned about 0.09% of Axon Enterprise worth $49,590,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Axon Enterprise by 4.2% in the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock valued at $6,684,217,000 after purchasing an additional 376,904 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Axon Enterprise by 53.8% during the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock worth $677,412,000 after purchasing an additional 330,213 shares during the period. Vestor Capital LLC lifted its holdings in Axon Enterprise by 438,636.3% during the 2nd quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock worth $690,170,000 after purchasing an additional 833,409 shares during the last quarter. Norges Bank acquired a new stake in Axon Enterprise during the 2nd quarter worth approximately $637,806,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Axon Enterprise by 22.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 680,983 shares of the biotechnology company’s stock valued at $563,813,000 after purchasing an additional 126,601 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $496.18 on Friday. The firm has a market cap of $39.89 billion, a PE ratio of 326.44, a price-to-earnings-growth ratio of 10.59 and a beta of 1.46. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 2.29. The stock’s fifty day moving average price is $531.08 and its two-hundred day moving average price is $609.33. Axon Enterprise, Inc has a one year low of $396.41 and a one year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.55. The firm had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The company’s revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.08 EPS. As a group, research analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AXON. UBS Group decreased their price objective on Axon Enterprise from $610.00 to $570.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday, December 29th. Royal Bank Of Canada reduced their target price on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Needham & Company LLC decreased their price target on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Finally, Robert W. Baird set a $800.00 price target on shares of Axon Enterprise in a research report on Wednesday, February 25th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $762.93.

Insider Activity at Axon Enterprise

In related news, CAO Jennifer H. Mak sold 1,500 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $573.45, for a total transaction of $860,175.00. Following the completion of the sale, the chief accounting officer owned 12,240 shares of the company’s stock, valued at $7,019,028. This represents a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the sale, the chief executive officer owned 3,090,997 shares in the company, valued at $1,546,240,339.28. The trade was a 0.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,634 shares of company stock valued at $13,803,095 over the last quarter. 4.40% of the stock is owned by corporate insiders.

About Axon Enterprise

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.