Axon Enterprise, Inc $AXON Holdings Increased by QRG Capital Management Inc.

QRG Capital Management Inc. increased its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 70,966.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 838,579 shares of the biotechnology company’s stock after acquiring an additional 837,399 shares during the quarter. Axon Enterprise comprises about 3.4% of QRG Capital Management Inc.’s investment portfolio, making the stock its 4th biggest holding. QRG Capital Management Inc.’s holdings in Axon Enterprise were worth $470,116,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Pure Financial Advisors LLC boosted its stake in Axon Enterprise by 6.7% during the fourth quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 23 shares in the last quarter. Keel Point LLC increased its stake in shares of Axon Enterprise by 4.4% during the first quarter. Keel Point LLC now owns 599 shares of the biotechnology company’s stock valued at $254,000 after purchasing an additional 25 shares in the last quarter. Bridgewater Advisors Inc. increased its stake in shares of Axon Enterprise by 4.4% during the second quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company’s stock valued at $352,000 after purchasing an additional 26 shares in the last quarter. Roman Butler Fullerton & Co. lifted its holdings in shares of Axon Enterprise by 2.4% during the first quarter. Roman Butler Fullerton & Co. now owns 1,278 shares of the biotechnology company’s stock valued at $500,000 after purchasing an additional 30 shares during the last quarter. Finally, 44 Wealth Management LLC lifted its holdings in shares of Axon Enterprise by 6.0% during the first quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company’s stock valued at $225,000 after purchasing an additional 30 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on AXON shares. Piper Sandler upped their price target on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Argus lifted their price objective on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Citizens Jmp reissued a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a report on Thursday, June 25th. UBS Group increased their target price on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, TD Cowen restated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Fourteen investment 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 stock has a consensus rating of “Moderate Buy” and an average target price of $721.57.

Trending Headlines about Axon Enterprise

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Chattanooga’s city council renewed its contract with Axon for five years, reinforcing the company’s recurring public-sector revenue base and customer retention. Chattanooga City Council renews five-year contract with Axon Enterprise
• Positive Sentiment: The Los Angeles Police Department approved a license-plate-reader pilot as a broader Axon technology agreement moves toward consideration by the city council. The pilot could create an opportunity for a larger contract, although approval is not yet certain. LAPD ALPR Pilot Approved as Axon Tech Deal Heads to City Council
• Neutral Sentiment: Reports that AXON gained in premarket trading and during the Nasdaq session describe market performance rather than identifying a new fundamental catalyst. Axon Enterprise stock gains 1.61 percent on Nasdaq
• Negative Sentiment: Axon and Flock executives did not attend a Senate hearing on surveillance technology after Chair Josh Hawley warned that subpoenas could be issued. The episode raises regulatory, political and reputational risks for Axon’s public-safety technology business. Flock, Axon dodge Senate hearing after invite from Chair Josh Hawley
• Negative Sentiment: Recent commentary points to margin and debt concerns, while another analysis questions whether Axon’s valuation and growth justify choosing it over ServiceNow. These concerns are especially significant given AXON’s elevated earnings multiple and recent weakness. Axon Enterprise stock slips as margins and debt pressure sentiment

Insiders Place Their Bets

In related news, CEO Patrick Smith sold 10,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the sale, the chief executive officer directly owned 3,118,012 shares of the company’s stock, valued at $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the completion of the sale, the president owned 296,974 shares of the company’s stock, valued at $170,590,774.82. The trade was a 5.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 67,397 shares of company stock valued at $38,160,884. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Down 1.9%

Shares of AXON traded down $8.71 on Wednesday, hitting $450.61. 770,373 shares of the stock traded hands, compared to its average volume of 1,054,314. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $789.29. The company has a market capitalization of $36.61 billion, a PE ratio of 186.98, a P/E/G ratio of 8.51 and a beta of 1.40. The business has a 50 day simple moving average of $543.84 and a 200 day simple moving average of $484.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to the consensus estimate 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 was up 35.3% compared to the same quarter last year. During the same period last year, the business posted $2.12 EPS. As a group, equities analysts forecast that Axon Enterprise, Inc will post 2.12 earnings per share for the current fiscal year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and equipment for law enforcement, public safety and other government agencies. Its product portfolio includes TASER energy weapons, body-worn cameras, in-car cameras and related connected devices designed to support safer interactions, improve transparency and collect operational data.

The company also provides cloud-based software for managing digital evidence, conducting investigations, overseeing records and workflows, coordinating dispatch and supporting real-time public safety operations.