Hyperion Asset Management Ltd Acquires 24,535 Shares of Axon Enterprise, Inc $AXON

Hyperion Asset Management Ltd boosted its position in Axon Enterprise, Inc (NASDAQ:AXON) by 20.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 147,151 shares of the biotechnology company’s stock after purchasing an additional 24,535 shares during the period. Axon Enterprise makes up approximately 2.3% of Hyperion Asset Management Ltd’s holdings, making the stock its 15th largest holding. Hyperion Asset Management Ltd’s holdings in Axon Enterprise were worth $83,571,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AXON. Baillie Gifford & Co. increased its position in Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after buying an additional 1,516,099 shares during the last quarter. Edgewood Management LLC purchased a new stake in Axon Enterprise in the fourth quarter worth $846,516,000. Norges Bank purchased a new stake in Axon Enterprise in the fourth quarter worth $515,764,000. Sands Capital Management LLC increased its position in Axon Enterprise by 11.6% in the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock worth $914,047,000 after buying an additional 167,095 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Axon Enterprise by 23.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company’s stock worth $476,089,000 after buying an additional 156,647 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction on Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the transaction, the president owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 38,989 shares of company stock valued at $19,090,083 in the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $423.01 on Thursday. The stock has a market cap of $34.09 billion, a PE ratio of 169.88, a price-to-earnings-growth ratio of 7.92 and a beta of 1.45. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The stock has a fifty day moving average of $411.60 and a 200-day moving average of $486.87.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.47 earnings per share. Equities research analysts anticipate that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $674.00 target price on shares of Axon Enterprise in a research report on Monday. Needham & Company LLC decreased their target price on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Citizens Jmp decreased their target price on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Robert W. Baird set a $800.00 target price on Axon Enterprise in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $712.75.

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.