NEOS Investment Management LLC Increases Holdings in Axon Enterprise, Inc $AXON

NEOS Investment Management LLC grew its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 12.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 58,995 shares of the biotechnology company’s stock after purchasing an additional 6,698 shares during the quarter. NEOS Investment Management LLC’s holdings in Axon Enterprise were worth $33,073,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AXON. Evergreen Capital Management LLC boosted its stake in Axon Enterprise by 3.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after purchasing an additional 15 shares in the last quarter. Synergy Financial Group LTD raised its holdings in Axon Enterprise by 1.4% in the third quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock worth $996,000 after buying an additional 19 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Axon Enterprise by 1.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company’s stock worth $1,350,000 after buying an additional 19 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in shares of Axon Enterprise by 6.7% in the fourth quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company’s stock worth $207,000 after buying an additional 23 shares in the last quarter. Finally, Keel Point LLC lifted its stake in shares of Axon Enterprise by 4.4% in the first quarter. Keel Point LLC now owns 599 shares of the biotechnology company’s stock worth $254,000 after buying an additional 25 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jeffrey C. Kunins sold 9,605 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the sale, the insider directly owned 97,761 shares in the company, valued at approximately $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $643.79, for a total transaction of $6,437,900.00. Following the completion of the transaction, the chief executive officer owned 3,040,997 shares in the company, valued at $1,957,763,458.63. The trade was a 0.33% 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. Over the last three months, insiders have sold 56,380 shares of company stock valued at $32,582,366. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXON. Piper Sandler raised their price target on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Argus increased their target price on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, Barclays upped their price target on Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $721.57.

Axon Enterprise Stock Down 4.2%

Shares of Axon Enterprise stock opened at $515.67 on Friday. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $792.16. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The company’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 price-to-earnings-growth ratio of 8.74 and a beta of 1.40.

Axon Enterprise (NASDAQ:AXON) last released its quarterly 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. The firm had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company’s revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 EPS. Research analysts anticipate that Axon Enterprise, Inc will post 2.04 EPS for the current year.

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.