Rakuten Investment Management Inc. Raises Stock Position in Axon Enterprise, Inc $AXON

Rakuten Investment Management Inc. boosted its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 631.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,456 shares of the biotechnology company’s stock after buying an additional 12,481 shares during the period. Rakuten Investment Management Inc.’s holdings in Axon Enterprise were worth $8,392,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AXON. New Millennium Group LLC purchased a new position in shares of Axon Enterprise in the third quarter worth $29,000. Darwin Wealth Management LLC purchased a new position in shares of Axon Enterprise in the second quarter worth $37,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Axon Enterprise in the fourth quarter worth $28,000. Sound Income Strategies LLC lifted its holdings in shares of Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Finally, Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. UBS Group reduced their price objective on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Robert W. Baird set a $800.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 25th. Barclays reduced their price target on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Citizens Jmp decreased their price target on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $712.75.

Insider Buying and Selling

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares in the company, valued at $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick W. Smith sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 3,060,997 shares in the company, valued at $1,530,498,500. This represents a 0.65% 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. In the last quarter, insiders have sold 38,989 shares of company stock worth $19,090,083. Insiders own 4.20% of the company’s stock.

Axon Enterprise Price Performance

NASDAQ AXON opened at $435.39 on Wednesday. The firm’s fifty day simple moving average is $411.40 and its two-hundred day simple moving average is $487.65. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91. The firm has a market capitalization of $35.09 billion, a P/E ratio of 174.86, a P/E/G ratio of 8.06 and a beta of 1.45.

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

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.