SEB Asset Management AB Invests $6.73 Million in Axon Enterprise, Inc $AXON

SEB Asset Management AB bought a new position in Axon Enterprise, Inc (NASDAQ:AXON) in the 1st quarter, Holdings Channel.com reports. The firm bought 15,844 shares of the biotechnology company’s stock, valued at approximately $6,729,000.

A number of other institutional investors have also added to or reduced their stakes in AXON. Creative Financial Designs Inc. ADV purchased a new position in shares of Axon Enterprise in the 4th quarter worth about $28,000. Sound Income Strategies LLC raised its holdings in shares of Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 44 shares in the last quarter. Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise during the 4th quarter valued at about $30,000. AlphaCentric Advisors LLC bought a new stake in Axon Enterprise in the 4th quarter worth approximately $34,000. Finally, Lodestone Wealth Management LLC bought a new stake in Axon Enterprise in the 4th quarter worth approximately $35,000. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

AXON opened at $511.17 on Wednesday. The stock’s 50 day simple moving average is $476.68 and its 200 day simple moving average is $480.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The firm has a market cap of $41.20 billion, a price-to-earnings ratio of 205.29, a PEG ratio of 10.76 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. During the same period in the previous year, the firm earned $1.47 EPS. The business’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday. Morgan Stanley set a $600.00 price objective on shares of Axon Enterprise in a report on Thursday, May 7th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $725.25.

Insider Transactions at Axon Enterprise

In related news, 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 transaction, the president directly owned 169,125 shares of the company’s stock, valued at $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the sale, the insider owned 34,024 shares of the company’s stock, valued at $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is currently owned by insiders.

Axon Enterprise 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.