Axon Enterprise, Inc $AXON Stock: Marquette Asset Management LLC Boosts Position

Marquette Asset Management LLC grew its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 227,700.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,278 shares of the biotechnology company’s stock after buying an additional 2,277 shares during the quarter. Axon Enterprise accounts for about 0.1% of Marquette Asset Management LLC’s investment portfolio, making the stock its 26th largest holding. Marquette Asset Management LLC’s holdings in Axon Enterprise were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in AXON. State Street Corp raised its holdings in 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 acquiring an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in 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 acquiring an additional 13,127,348 shares in the last quarter. BlackRock Inc. grew its holdings in Axon Enterprise by 4.3% during the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock worth $4,672,432,000 after acquiring an additional 345,365 shares in the last quarter. The Manufacturers Life Insurance Company increased 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 purchasing an additional 3,496,493 shares during the last quarter. Finally, Sands Capital Management LLC raised its stake in shares of Axon Enterprise by 11.6% in the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after purchasing an additional 167,095 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jeffrey C. Kunins sold 9,605 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction on Monday, August 31st. The shares were sold at an average price of $574.43, for a total value of $9,636,063.25. Following the sale, the president directly owned 296,974 shares in the company, valued at $170,590,774.82. The trade was a 5.35% 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. In the last three months, insiders sold 47,397 shares of company stock worth $26,722,984. 4.20% of the stock is currently owned by corporate insiders.

Axon Enterprise Stock Up 1.3%

Axon Enterprise stock opened at $422.89 on Friday. The company has a 50-day simple moving average of $518.44 and a 200-day simple moving average of $476.25. The firm has a market capitalization of $34.36 billion, a P/E ratio of 175.47, a P/E/G ratio of 7.86 and a beta of 1.44. 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 one year low of $339.01 and a one year high of $764.02.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, August 5th. 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 the consensus estimate of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same period last year, the firm posted $2.12 EPS. As a group, equities analysts expect that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays lifted their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Citigroup reaffirmed a “market outperform” rating on shares of Axon Enterprise in a report on Thursday, September 17th. Morgan Stanley lifted their target price on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Argus boosted their price target on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Finally, Citizens Jmp reissued a “market outperform” rating and set a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $721.57.

About Axon Enterprise

Axon Enterprise, Inc develops technology and connected systems for public safety and law enforcement agencies. Its product portfolio includes TASER conducted energy weapons, body-worn cameras, in-car cameras and other recording devices designed to support safer interactions, improve accountability and document incidents.

The company also provides cloud-based software for managing digital evidence, reports, records and agency operations. Its Axon platform connects hardware with services such as evidence management, real-time operations, computer-aided dispatch and other workflow tools, enabling agencies to store, organize and share information across their organizations.

Founded in 1993 as AIR TASER by Rick Smith and Tom Smith, the company later operated as TASER International before adopting the name Axon Enterprise in 2017.