Korea Investment CORP Makes New Investment in Axon Enterprise, Inc $AXON

Korea Investment CORP purchased a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the second quarter, HoldingsChannel reports. The institutional investor purchased 38,461 shares of the biotechnology company’s stock, valued at approximately $21,562,000.

A number of other large investors have also made changes to their positions in AXON. Brighton Jones LLC bought a new stake in Axon Enterprise during the fourth quarter valued at approximately $480,000. NewEdge Advisors LLC increased its holdings in Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after buying an additional 668 shares during the last quarter. Empowered Funds LLC increased its holdings in Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after buying an additional 157 shares during the last quarter. Woodline Partners LP raised its position in Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after acquiring an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC bought a new position in Axon Enterprise in the second quarter worth approximately $284,000. 79.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AXON has been the topic of several analyst reports. Barclays lifted their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Piper Sandler raised their target price on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. 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. JPMorgan Chase & Co. lifted their target price on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $715.00 price target on shares of Axon Enterprise in a report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $730.92.

Axon Enterprise Stock Performance

AXON opened at $627.75 on Monday. The firm has a market cap of $51.00 billion, a P/E ratio of 260.48, a PEG ratio of 10.19 and a beta of 1.39. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $794.29. The company has a 50 day simple moving average of $543.11 and a two-hundred day simple moving average of $476.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. During the same period last year, the firm earned $2.12 EPS. The company’s revenue was up 35.3% on a year-over-year basis. Equities analysts forecast that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In related news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the sale, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the transaction, the president directly owned 169,125 shares in the company, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 66,989 shares of company stock valued at $35,216,932. 4.20% of the stock is currently owned by corporate insiders.

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.