Axon Enterprise, Inc $AXON Stake Lifted by Odyssean LLC

Odyssean LLC boosted its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 78.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,681 shares of the biotechnology company’s stock after buying an additional 1,619 shares during the period. Odyssean LLC’s holdings in Axon Enterprise were worth $2,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Edgewood Management LLC acquired a new position in Axon Enterprise during the 4th quarter worth $846,516,000. Wellington Management Group LLP increased its holdings in shares of Axon Enterprise by 326.9% during the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock valued at $874,463,000 after purchasing an additional 1,179,038 shares during the period. Norges Bank acquired a new position in shares of Axon Enterprise during the fourth quarter valued at $515,764,000. Legal & General Group Plc bought a new stake in shares of Axon Enterprise during the second quarter valued at about $244,669,000. Finally, BlackRock Inc. lifted its holdings in Axon Enterprise by 4.3% in the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock worth $4,672,432,000 after purchasing an additional 345,365 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insiders Place Their Bets

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the sale, the insider directly owned 34,024 shares of the company’s stock, valued at $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Joshua Isner sold 13,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the transaction, the president owned 169,125 shares of the company’s stock, valued at $82,609,106.25. This trade represents a 7.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 76,594 shares of company stock worth $41,236,386. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AXON. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research note on Thursday, August 6th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Zacks Research cut Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. The Goldman Sachs Group restated a “buy” rating and issued a $715.00 target price on shares of Axon Enterprise in a research report on Thursday, August 6th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $700.00 price target on shares of Axon Enterprise in a research note on Thursday, June 25th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $730.92.

Axon Enterprise Trading Up 2.6%

Shares of NASDAQ:AXON opened at $613.26 on Wednesday. The stock has a market capitalization of $49.82 billion, a price-to-earnings ratio of 254.47, a PEG ratio of 9.70 and a beta of 1.39. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $794.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The company has a 50 day moving average price of $549.76 and a 200 day moving average price of $479.31.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. During the same quarter in the prior year, the company earned $2.12 earnings per share. The firm’s revenue was up 35.3% on a year-over-year basis. On average, research analysts anticipate that Axon Enterprise, Inc will post 2.04 EPS for the current fiscal year.

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.