Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Axon Enterprise, Inc $AXON

Mirae Asset Global Investments Co. Ltd. increased its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 15.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,909 shares of the biotechnology company’s stock after acquiring an additional 7,286 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Axon Enterprise worth $30,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV acquired a new stake in Axon Enterprise during the 4th quarter worth $28,000. Camelot Portfolios LLC acquired a new position in Axon Enterprise in the fourth quarter valued at $30,000. AlphaCentric Advisors LLC acquired a new position in Axon Enterprise in the fourth quarter valued at $34,000. Darwin Wealth Management LLC purchased a new stake in shares of Axon Enterprise in the second quarter valued at about $37,000. Finally, Strive Financial Group LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Up 2.6%

Shares of Axon Enterprise stock opened at $615.59 on Friday. The firm has a market cap of $50.01 billion, a price-to-earnings ratio of 255.43, a price-to-earnings-growth ratio of 12.24 and a beta of 1.39. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $794.29. The company’s 50-day simple moving average is $523.52 and its 200-day simple moving average is $473.43. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same quarter last year, the firm earned $2.12 earnings per share. The firm’s revenue was up 35.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Insider Buying and Selling at Axon Enterprise

In related news, insider Isaiah Fields sold 2,000 shares of Axon Enterprise stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value of $800,000.00. Following the sale, the insider directly owned 52,813 shares in the company, valued at $21,125,200. The trade was a 3.65% decrease in their ownership of the stock. The transaction 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 stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the transaction, the insider directly owned 34,024 shares in the company, valued at $16,501,640. This represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 68,989 shares of company stock worth $36,016,932. 4.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AXON. Piper Sandler raised their price target on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Thursday, August 6th. Morgan Stanley lifted their target price on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, UBS Group boosted their target price on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Thirteen research 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 a consensus target price of $730.92.

Trending Headlines about Axon Enterprise

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Strong Q2 results and raised outlook: Axon exceeded expectations with adjusted earnings of $1.88 per share versus $1.84 expected and revenue of $904.4 million versus $876.4 million expected. Revenue grew 35.3% year over year, and management’s improved outlook supports the long-term growth story. Should You Buy, Hold or Sell AXON Stock Post Q2 Earnings Release?
• Positive Sentiment: Connected Devices momentum: TASER devices, body cameras and counter-drone products are driving strong hardware demand. Continued adoption of these products, combined with Axon’s cloud-based evidence and records software, reinforces the company’s integrated platform strategy. Will Strength in Connected Devices Unit Continue to Drive AXON’s Growth?
• Positive Sentiment: Bullish strategic commentary: Analysts highlighted Axon as a strong contender in law-enforcement technology, while coverage pointed to new artificial-intelligence capabilities as an additional growth catalyst for public-safety customers. Axon: A Strong Contender in Law Enforcement Tech
• Neutral Sentiment: Technical consolidation: AXON remains in a strong broader uptrend but has recently consolidated, leaving investors watching whether momentum resumes or the rally pauses. Stock of the Day: Is the Axon Rally Over?
• Negative Sentiment: Valuation and profitability risks: Despite strong revenue growth, analysts cautioned that Axon’s high earnings multiple, elevated costs, debt and relatively modest margins reduce its near-term appeal. Memory costs and counter-drone investments could also pressure profitability if spending rises faster than sales.
• Negative Sentiment: CEO share sale: CEO Patrick Smith sold 9,930 shares worth approximately $5.45 million. The transaction occurred under a pre-arranged Rule 10b5-1 plan and represented only 0.33% of his holdings, making it a limited signal but a potential source of investor caution.

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.