Sun Financial Inc Makes New $1.03 Million Investment in Axon Enterprise, Inc $AXON

Sun Financial Inc acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,805 shares of the biotechnology company’s stock, valued at approximately $1,025,000.

A number of other large investors also recently bought and sold shares of AXON. Baillie Gifford & Co. raised its position in Axon Enterprise by 1,198.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after buying an additional 1,516,099 shares during the last quarter. Vanguard Group Inc. raised its position in Axon Enterprise by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock worth $6,684,217,000 after buying an additional 376,904 shares during the last quarter. Jennison Associates LLC raised its position in Axon Enterprise by 53.8% during the 3rd quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock worth $677,412,000 after buying an additional 330,213 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Axon Enterprise by 23.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company’s stock worth $476,089,000 after buying an additional 156,647 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Axon Enterprise by 2,541.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 96,053 shares of the biotechnology company’s stock worth $68,931,000 after buying an additional 99,988 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AXON. Northcoast Research upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target for the company in a report on Tuesday, January 6th. UBS Group lowered their price target on shares of Axon Enterprise from $610.00 to $570.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Robert W. Baird set a $800.00 price objective on shares of Axon Enterprise in a research note on Wednesday, February 25th. Needham & Company LLC lowered their target price on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Citigroup reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, February 25th. Sixteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $749.63.

Axon Enterprise Price Performance

AXON opened at $402.31 on Monday. The company’s 50 day simple moving average is $454.05 and its 200 day simple moving average is $532.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The stock has a market capitalization of $32.41 billion, a PE ratio of 264.68, a P/E/G ratio of 8.59 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The business had revenue of $796.72 million for the quarter, compared to analysts’ expectations of $755.29 million. During the same period last year, the company earned $2.08 earnings per share. The company’s quarterly revenue was up 38.5% on a year-over-year basis. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 1.41 EPS for the current year.

Insiders Place Their Bets

In related news, insider Isaiah Fields sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $535.01, for a total value of $1,070,020.00. Following the sale, the insider directly owned 55,588 shares of the company’s stock, valued at approximately $29,740,135.88. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer H. Mak sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total transaction of $860,175.00. Following the completion of the sale, the chief accounting officer directly owned 12,240 shares in the company, valued at $7,019,028. This represents a 10.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 13,855 shares of company stock valued at $7,109,828. 5.70% of the stock is currently owned by corporate insiders.

Axon Enterprise 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.