Nissay Asset Management Corp Japan Has $13.10 Million Stock Position in Axon Enterprise, Inc $AXON

Nissay Asset Management Corp Japan increased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 7.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 23,360 shares of the biotechnology company’s stock after purchasing an additional 1,627 shares during the period. Nissay Asset Management Corp Japan’s holdings in Axon Enterprise were worth $13,096,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Edgewood Management LLC bought a new position in shares of Axon Enterprise during the 4th quarter worth approximately $846,516,000. Wellington Management Group LLP raised its stake in Axon Enterprise by 326.9% in the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock valued at $874,463,000 after acquiring an additional 1,179,038 shares during the period. Norges Bank bought a new stake in Axon Enterprise in the 4th quarter valued at $515,764,000. Bank of America Corp DE acquired a new stake in Axon Enterprise during the 2nd quarter valued at $286,684,000. Finally, Legal & General Group Plc acquired a new stake in Axon Enterprise during the 2nd quarter valued at $244,669,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Buying and Selling

In related news, insider Jeffrey C. Kunins sold 9,605 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the transaction, the insider directly owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 76,594 shares of company stock valued at $41,236,386 in the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on AXON. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a report on Thursday, June 25th. Morgan Stanley increased their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a research note on Thursday, August 6th. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. 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. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $730.92.

Axon Enterprise Stock Performance

AXON opened at $600.73 on Friday. The business has a fifty day simple moving average of $560.75 and a 200 day simple moving average of $482.99. The company has a market capitalization of $48.80 billion, a PE ratio of 249.27, a price-to-earnings-growth ratio of 9.75 and a beta of 1.39. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $792.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

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

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.