Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Axon Enterprise, Inc $AXON

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 24.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,826 shares of the biotechnology company’s stock after buying an additional 5,986 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Axon Enterprise were worth $25,522,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. TCI Wealth Advisors Inc. purchased a new position in shares of Axon Enterprise during the 2nd quarter worth approximately $214,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Axon Enterprise during the 1st quarter worth approximately $1,110,000. Quotient Wealth Partners LLC purchased a new position in shares of Axon Enterprise during the 1st quarter worth approximately $438,000. CX Institutional purchased a new position in shares of Axon Enterprise during the 1st quarter worth approximately $115,000. Finally, GAMMA Investing LLC raised its stake in shares of Axon Enterprise by 11.8% during the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company’s stock worth $765,000 after buying an additional 154 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axon Enterprise

In other news, insider Jeffrey C. Kunins sold 7,891 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the sale, the insider owned 144,538 shares in the company, valued at $108,417,953.80. This trade represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $831.29, for a total value of $8,312,900.00. Following the sale, the chief executive officer owned 3,053,982 shares in the company, valued at $2,538,744,696.78. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,932 shares of company stock valued at $37,978,216 in the last ninety days. 4.40% of the stock is owned by insiders.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $715.51 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The stock has a fifty day moving average of $757.79 and a two-hundred day moving average of $707.36. The company has a market capitalization of $56.17 billion, a price-to-earnings ratio of 176.67, a PEG ratio of 27.98 and a beta of 1.41. Axon Enterprise, Inc has a fifty-two week low of $413.68 and a fifty-two week high of $885.91.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.58. The company had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.Axon Enterprise’s revenue was up 32.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. On average, analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AXON shares. JMP Securities restated a “market outperform” rating and issued a $825.00 price target on shares of Axon Enterprise in a report on Monday, September 29th. JPMorgan Chase & Co. upped their price target on Axon Enterprise from $730.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Northland Securities set a $800.00 price target on Axon Enterprise in a report on Tuesday, August 5th. Wolfe Research started coverage on Axon Enterprise in a report on Monday, July 7th. They issued an “outperform” rating on the stock. Finally, Zacks Research cut Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $841.64.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.