Rathbones Group PLC Buys 5,100 Shares of Axon Enterprise, Inc $AXON

Rathbones Group PLC boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 11.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,908 shares of the biotechnology company’s stock after purchasing an additional 5,100 shares during the quarter. Rathbones Group PLC’s holdings in Axon Enterprise were worth $21,620,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV acquired a new stake in Axon Enterprise in the 4th quarter worth $28,000. Sound Income Strategies LLC raised its position in shares of Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 44 shares during the last quarter. Camelot Portfolios LLC bought a new stake in shares of Axon Enterprise in the fourth quarter valued at about $30,000. AlphaCentric Advisors LLC bought a new stake in shares of Axon Enterprise in the fourth quarter valued at about $34,000. Finally, Darwin Wealth Management LLC acquired a new stake in Axon Enterprise during the second quarter worth about $37,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Stock Up 9.1%

Shares of AXON opened at $575.88 on Tuesday. The company has a market capitalization of $46.42 billion, a P/E ratio of 231.28, a PEG ratio of 10.77 and a beta of 1.39. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The business’s 50 day simple moving average is $500.89 and its 200-day simple moving average is $475.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.90 million. During the same period last year, the firm posted $1.47 EPS. The business’s revenue was up 33.7% on a year-over-year basis. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler boosted their price target on Axon Enterprise from $674.00 to $724.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. The Goldman Sachs Group set a $535.00 price objective on Axon Enterprise in a research report on Thursday, May 7th. Weiss Ratings raised Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Needham & Company LLC boosted their price objective on Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Finally, Morgan Stanley set a $600.00 target price on Axon Enterprise in a research note on Thursday, May 7th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $725.25.

Insider Activity at Axon Enterprise

In related news, Director Caitlin Elizabeth Kalinowski sold 564 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the transaction, the director owned 3,632 shares in the company, valued at $1,739,619.04. This represents a 13.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the sale, the insider directly owned 34,024 shares in the company, valued at approximately $16,501,640. This represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is currently owned by company insiders.

About Axon Enterprise

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.