Northwestern Mutual Wealth Management Co. Acquires 1,090 Shares of Axon Enterprise, Inc $AXON

Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 48.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,345 shares of the biotechnology company’s stock after purchasing an additional 1,090 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Axon Enterprise were worth $1,875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Darwin Wealth Management LLC bought a new position in Axon Enterprise during the second quarter valued at about $37,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Axon Enterprise during the 4th quarter worth about $28,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Axon Enterprise during the 2nd quarter valued at about $31,000. AlphaCentric Advisors LLC acquired a new position in shares of Axon Enterprise during the 4th quarter valued at about $34,000. Finally, Strive Financial Group LLC bought a new position in shares of Axon Enterprise in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Patrick Smith sold 9,930 shares of Axon Enterprise stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $548.77, for a total transaction of $5,449,286.10. Following the sale, the chief executive officer owned 3,031,067 shares of the company’s stock, valued at approximately $1,663,358,637.59. This trade represents a 0.33% decrease in their position. 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, insider Jeffrey Kunins sold 9,605 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 56,380 shares of company stock worth $32,582,366. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $515.67 on Friday. The firm’s 50-day moving average is $569.47 and its 200-day moving average is $486.24. The company has a market cap of $41.89 billion, a price-to-earnings ratio of 213.97, a PEG ratio of 8.74 and a beta of 1.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $792.16.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business had revenue of $904.39 million during the quarter, compared to analysts’ expectations of $876.42 million. During the same quarter last year, the company earned $2.12 earnings per share. The firm’s revenue was up 35.3% on a year-over-year basis. Equities research analysts anticipate that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on AXON. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $715.00 target price on shares of Axon Enterprise in a research note on Thursday, August 6th. Barclays boosted their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Argus raised their price target on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $721.57.

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.