Rakuten Investment Management Inc. Buys New Shares in Axon Enterprise, Inc $AXON

Rakuten Investment Management Inc. purchased a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,177 shares of the biotechnology company’s stock, valued at approximately $9,792,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV purchased a new position in shares of Axon Enterprise during the 4th quarter valued at about $28,000. Keating Financial Advisory Services Inc. bought a new stake in Axon Enterprise in the 2nd quarter worth approximately $31,000. AlphaCentric Advisors LLC purchased a new stake in Axon Enterprise in the fourth quarter worth approximately $34,000. Darwin Wealth Management LLC purchased a new stake in Axon Enterprise in the second quarter worth approximately $37,000. Finally, Strive Financial Group LLC purchased a new stake in Axon Enterprise in the fourth quarter worth approximately $41,000. Institutional investors own 79.08% of the company’s stock.

Insider Buying and Selling

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the sale, the insider owned 97,761 shares in the company, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 9,930 shares of Axon Enterprise stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $548.77, for a total value of $5,449,286.10. Following the completion of the sale, the chief executive officer owned 3,031,067 shares in the company, valued at approximately $1,663,358,637.59. This represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 76,594 shares of company stock valued at $41,236,386 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AXON shares. Barclays lifted their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $730.92.

Axon Enterprise Trading Down 1.7%

Shares of AXON opened at $600.73 on Friday. The stock has a market capitalization of $48.80 billion, a P/E ratio of 249.27, a PEG ratio of 9.75 and a beta of 1.39. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $560.75 and a two-hundred day simple moving average of $482.99. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $792.16.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (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 analysts’ expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 earnings per share. On average, research analysts anticipate 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.