Fifth Third Bancorp Has $6.86 Million Stock Position in Axon Enterprise, Inc $AXON

Fifth Third Bancorp boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 396.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,154 shares of the biotechnology company’s stock after acquiring an additional 12,898 shares during the quarter. Fifth Third Bancorp’s holdings in Axon Enterprise were worth $6,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its stake in shares of Axon Enterprise by 6.1% during the first quarter. Sequoia Financial Advisors LLC now owns 4,380 shares of the biotechnology company’s stock valued at $1,860,000 after purchasing an additional 253 shares during the last quarter. Roman Butler Fullerton & Co. lifted its holdings in Axon Enterprise by 2.4% during the 1st quarter. Roman Butler Fullerton & Co. now owns 1,278 shares of the biotechnology company’s stock worth $500,000 after buying an additional 30 shares in the last quarter. Kestra Advisory Services LLC lifted its holdings in Axon Enterprise by 11.3% during the 1st quarter. Kestra Advisory Services LLC now owns 3,674 shares of the biotechnology company’s stock worth $1,560,000 after buying an additional 372 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its position in Axon Enterprise by 3.8% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 1,558 shares of the biotechnology company’s stock valued at $662,000 after buying an additional 57 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its position in Axon Enterprise by 11.7% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 136,615 shares of the biotechnology company’s stock valued at $57,618,000 after buying an additional 14,257 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Shares of AXON opened at $541.75 on Friday. The stock has a market cap of $43.67 billion, a P/E ratio of 217.57, a price-to-earnings-growth ratio of 11.04 and a beta of 1.38. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The stock’s 50-day moving average price is $469.54 and its two-hundred day moving average price is $481.68. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. Axon Enterprise’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.47 EPS. On average, equities analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AXON shares. JPMorgan Chase & Co. boosted their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Piper Sandler lifted their price objective on Axon Enterprise from $674.00 to $724.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley set a $600.00 price objective on Axon Enterprise in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Finally, Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $725.25.

Insiders Place Their Bets

In related news, CRO Cameron Brooks sold 1,242 shares of the company’s 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 sale, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Axon Enterprise stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president directly owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 58,989 shares of company stock valued at $30,527,983 over the last 90 days. 4.20% of the stock is currently owned by company 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.