50,489 Axon Enterprise, Inc $AXON Shares Sold by Hyperion Asset Management Ltd

Hyperion Asset Management Ltd reduced its position in Axon Enterprise, Inc (NASDAQ:AXON) by 23.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 163,020 shares of the biotechnology company’s stock after selling 50,489 shares during the period. Axon Enterprise accounts for about 1.9% of Hyperion Asset Management Ltd’s holdings, making the stock its 15th largest holding. Hyperion Asset Management Ltd’s holdings in Axon Enterprise were worth $68,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Axon Enterprise by 5,700.2% in the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after buying an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Axon Enterprise by 18,050.2% during 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 buying an additional 13,127,348 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Axon Enterprise by 5,022.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after buying an additional 4,183,302 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Axon Enterprise by 8,432.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock worth $1,983,414,000 after buying an additional 3,496,493 shares in the last quarter. Finally, Nykredit A S purchased a new stake in shares of Axon Enterprise in the 2nd quarter worth about $698,937,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Trading Up 3.4%

Shares of AXON traded up $12.91 on Tuesday, hitting $396.00. 677,743 shares of the stock traded hands, compared to its average volume of 1,050,634. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $764.02. The stock’s 50 day moving average is $497.33 and its two-hundred day moving average is $474.55. The firm has a market capitalization of $32.17 billion, a P/E ratio of 164.28, a P/E/G ratio of 7.34 and a beta of 1.44. 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 released its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million during the quarter, compared to analysts’ expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.12 EPS. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Patrick Smith sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the completion of the transaction, the chief executive officer directly owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, insider Isaiah Fields sold 1,017 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $480.45, for a total value of $488,617.65. Following the transaction, the insider owned 56,264 shares in the company, valued at $27,032,038.80. This trade represents a 1.78% decrease in their ownership of the stock. 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 sold 47,397 shares of company stock worth $26,722,984 in the last three months. Company insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AXON. Citigroup restated a “market outperform” rating on shares of Axon Enterprise in a report on Thursday, September 17th. UBS Group upped their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Piper Sandler lowered their price target on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating on the stock in a research report on Tuesday. Raymond James Financial set a $675.00 price objective on shares of Axon Enterprise in a research note on Thursday. Finally, TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $707.07.

About Axon Enterprise

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.