Axon Enterprise, Inc $AXON Stock Bought by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. raised its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 7.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,159 shares of the biotechnology company’s stock after acquiring an additional 1,323 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Axon Enterprise were worth $8,518,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AXON. State Street Corp grew its holdings in Axon Enterprise by 5,700.2% in the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock worth $119,724,905,000 after acquiring an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Axon Enterprise by 18,050.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after purchasing an additional 13,127,348 shares in the last quarter. BlackRock Inc. boosted its position in shares of Axon Enterprise by 4.3% during the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock valued at $4,672,432,000 after buying an additional 345,365 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Axon Enterprise by 391,214.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock worth $2,952,943,000 after purchasing an additional 6,987,098 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Axon Enterprise by 5,022.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock valued at $1,802,719,000 after purchasing an additional 4,183,302 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of analyst reports. Citigroup reissued a “market outperform” rating on shares of Axon Enterprise in a research note on Monday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research report on Tuesday. Argus increased their target price on shares of Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $688.38.

Axon Enterprise Stock Performance

Shares of AXON opened at $424.18 on Thursday. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The firm has a market cap of $34.46 billion, a PE ratio of 176.01, a P/E/G ratio of 7.92 and a beta of 1.48. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $665.07. The stock has a fifty day moving average price of $451.99 and a 200-day moving average price of $478.00.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The firm had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. During the same period in the previous year, the business earned $2.12 EPS. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. Equities research analysts predict that Axon Enterprise, Inc will post 2.10 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction that occurred 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 sale, the insider directly owned 97,761 shares in the company, valued at $61,266,818.70. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction of $488,617.65. Following the transaction, the insider owned 56,264 shares in the company, valued at $27,032,038.80. The trade was a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 47,397 shares of company stock worth $26,722,984 over the last ninety days. Insiders own 4.20% of the company’s stock.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.