10,000 Axon Enterprise, Inc $AXON Shares Bought by Canal Insurance CO

Canal Insurance CO increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 100.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the biotechnology company’s stock after acquiring an additional 10,000 shares during the period. Axon Enterprise comprises 2.0% of Canal Insurance CO’s holdings, making the stock its 15th largest holding. Canal Insurance CO’s holdings in Axon Enterprise were worth $8,450,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its holdings in shares of Axon Enterprise by 53.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock worth $6,542,000 after buying an additional 4,002 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Axon Enterprise by 122,993.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 461,601 shares of the biotechnology company’s stock valued at $195,036,000 after acquiring an additional 461,226 shares in the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Axon Enterprise during the 2nd quarter valued at $3,854,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Axon Enterprise during the 1st quarter valued at $15,067,000. Finally, Brown Lisle Cummings Inc. grew its position in Axon Enterprise by 97,231.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 34,066 shares of the biotechnology company’s stock worth $19,098,000 after acquiring an additional 34,031 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Axon Enterprise news, President Joshua Isner sold 16,775 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the sale, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. The trade was a 5.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $61,266,818.70. The trade was a 8.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 47,397 shares of company stock valued at $26,722,984 over the last 90 days. 4.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a report on Thursday, June 25th. Morgan Stanley lifted their price target on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a report on Tuesday, October 13th. Finally, Raymond James Financial set a $675.00 price objective on Axon Enterprise in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and an average price target of $707.07.

Axon Enterprise Trading Up 3.2%

Shares of NASDAQ:AXON traded up $12.43 during mid-day trading on Tuesday, reaching $395.52. 652,956 shares of the company’s stock were exchanged, compared to its average volume of 1,050,465. 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 twelve month low of $339.01 and a twelve month high of $764.02. The firm has a market capitalization of $32.13 billion, a price-to-earnings ratio of 164.23, a PEG ratio of 7.34 and a beta of 1.44. The business’s fifty day moving average price is $497.33 and its 200-day moving average price is $474.55.

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

Axon Enterprise 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.