Vanguard Group Inc. Boosts Stake in Axon Enterprise, Inc $AXON

Vanguard Group Inc. lifted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 4.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,314,164 shares of the biotechnology company’s stock after acquiring an additional 376,904 shares during the period. Vanguard Group Inc. owned approximately 0.12% of Axon Enterprise worth $6,684,217,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tobam raised its position in Axon Enterprise by 19.4% during the third quarter. Tobam now owns 4,974 shares of the biotechnology company’s stock valued at $3,570,000 after purchasing an additional 808 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Axon Enterprise by 6.1% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 2,503 shares of the biotechnology company’s stock worth $1,796,000 after purchasing an additional 144 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Axon Enterprise by 3.2% during the 3rd quarter. Fifth Third Bancorp now owns 3,284 shares of the biotechnology company’s stock valued at $2,357,000 after purchasing an additional 101 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Axon Enterprise by 4.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 25,885 shares of the biotechnology company’s stock valued at $18,576,000 after buying an additional 1,114 shares in the last quarter. Finally, Kapstone Financial Advisors LLC raised its holdings in shares of Axon Enterprise by 3.2% during the 3rd quarter. Kapstone Financial Advisors LLC now owns 969 shares of the biotechnology company’s stock valued at $695,000 after buying an additional 30 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $429.67 on Tuesday. The company’s fifty day simple moving average is $555.10 and its two-hundred day simple moving average is $645.15. Axon Enterprise, Inc has a 12-month low of $396.41 and a 12-month high of $885.91. The firm has a market cap of $33.91 billion, a PE ratio of 135.97, a price-to-earnings-growth ratio of 12.94 and a beta of 1.48. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $619.01, for a total transaction of $6,190,100.00. Following the transaction, the chief executive officer directly owned 3,100,997 shares of the company’s stock, valued at approximately $1,919,548,152.97. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer H. Mak sold 1,134 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $600.00, for a total value of $680,400.00. Following the transaction, the chief accounting officer owned 13,740 shares of the company’s stock, valued at approximately $8,244,000. This represents a 7.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,040 shares of company stock valued at $27,249,338 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AXON shares. Wall Street Zen lowered Axon Enterprise from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Northcoast Research raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 target price on the stock in a report on Tuesday, January 6th. William Blair reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. UBS Group cut their price target on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Finally, Morgan Stanley decreased their price objective on Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $805.71.

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.