Yousif Capital Management LLC Acquires 497,363 Shares of Axon Enterprise, Inc $AXON

Yousif Capital Management LLC lifted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 6,248.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 505,323 shares of the biotechnology company’s stock after acquiring an additional 497,363 shares during the quarter. Axon Enterprise comprises approximately 2.3% of Yousif Capital Management LLC’s holdings, making the stock its 5th biggest holding. Yousif Capital Management LLC owned approximately 0.62% of Axon Enterprise worth $213,509,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its position in Axon Enterprise by 5,700.2% in the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after purchasing an additional 209,879,882 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Axon Enterprise by 18,050.2% during the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after purchasing an additional 13,127,348 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Axon Enterprise by 391,214.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock worth $2,952,943,000 after buying an additional 6,987,098 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Axon Enterprise by 5,022.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after buying an additional 4,183,302 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Axon Enterprise by 8,432.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock worth $1,983,414,000 after buying an additional 3,496,493 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the transaction, the chief executive officer owned 3,118,012 shares of the company’s stock, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the transaction, the insider directly owned 56,264 shares in the company, valued at $27,032,038.80. The trade was a 1.78% decrease in their position. 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 a total of 47,397 shares of company stock worth $26,722,984 over the last three months. 4.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AXON shares. Argus increased their target price on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. UBS Group boosted their price target on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Barclays upped their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus target price of $689.94.

Axon Enterprise Stock Up 1.4%

AXON stock traded up $5.77 during trading on Friday, reaching $420.37. The stock had a trading volume of 844,988 shares, compared to its average volume of 1,031,962. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $764.02. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $34.15 billion, a P/E ratio of 174.43, a PEG ratio of 7.88 and a beta of 1.44. The firm has a fifty day moving average price of $480.64 and a 200 day moving average price of $473.90.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. The company had revenue of $904.39 million during 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 firm’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 EPS. On average, equities analysts anticipate that Axon Enterprise, Inc will post 2.10 earnings per share for the current year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.