OP Asset Management Ltd Purchases New Stake in Axon Enterprise, Inc $AXON

OP Asset Management Ltd acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,217 shares of the biotechnology company’s stock, valued at approximately $5,613,000.

A number of other large investors have also recently made changes to their positions in the business. Brighton Jones LLC acquired a new position in shares of Axon Enterprise during the fourth quarter valued at about $480,000. NewEdge Advisors LLC raised its holdings in shares of Axon Enterprise by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after acquiring an additional 668 shares during the last quarter. Empowered Funds LLC lifted its position in Axon Enterprise by 8.4% in the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after acquiring an additional 157 shares in the last quarter. Woodline Partners LP lifted its position in Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after acquiring an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in Axon Enterprise during the 2nd quarter valued at about $284,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Stock Up 4.6%

AXON stock opened at $465.12 on Friday. The stock’s fifty day simple moving average is $420.65 and its two-hundred day simple moving average is $482.08. 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 1-year low of $339.01 and a 1-year high of $885.91. The stock has a market cap of $37.49 billion, a P/E ratio of 186.79, a P/E/G ratio of 8.09 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. During the same quarter in the prior year, the company earned $1.47 EPS. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. Analysts expect that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Insider Buying and Selling

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of Axon Enterprise stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the sale, the insider owned 52,813 shares of the company’s stock, valued at approximately $21,125,200. The trade was a 3.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the sale, the insider directly owned 34,024 shares in the company, valued at approximately $16,501,640. This represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 38,989 shares of company stock worth $19,090,083 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

AXON has been the subject of several analyst reports. Wall Street Zen raised Axon Enterprise from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. UBS Group cut their target price on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Morgan Stanley set a $600.00 price target on Axon Enterprise in a report on Thursday, May 7th. Piper Sandler reissued an “overweight” rating and issued a $674.00 price target on shares of Axon Enterprise in a research report on Monday, June 15th. Finally, Zacks Research upgraded Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $712.75.

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.