Kornitzer Capital Management Inc. KS Acquires New Stake in Axon Enterprise, Inc $AXON

Kornitzer Capital Management Inc. KS bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 8,185 shares of the biotechnology company’s stock, valued at approximately $5,874,000.

Other large investors also recently made changes to their positions in the company. Scalar Gauge Management LLC raised its stake in Axon Enterprise by 82.4% during the 3rd quarter. Scalar Gauge Management LLC now owns 15,500 shares of the biotechnology company’s stock worth $11,123,000 after buying an additional 7,000 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Axon Enterprise by 1.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,741 shares of the biotechnology company’s stock valued at $8,426,000 after acquiring an additional 141 shares in the last quarter. Monte Financial Group LLC raised its position in shares of Axon Enterprise by 5.5% during the third quarter. Monte Financial Group LLC now owns 325 shares of the biotechnology company’s stock worth $233,000 after purchasing an additional 17 shares during the period. Mutual of America Capital Management LLC lifted its holdings in shares of Axon Enterprise by 7.9% in the 3rd quarter. Mutual of America Capital Management LLC now owns 10,947 shares of the biotechnology company’s stock worth $7,856,000 after purchasing an additional 803 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Axon Enterprise by 4.5% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 439 shares of the biotechnology company’s stock worth $316,000 after purchasing an additional 19 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $552.60, for a total value of $11,052,000.00. Following the sale, the president owned 249,502 shares of the company’s stock, valued at approximately $137,874,805.20. The trade was a 7.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer H. Mak sold 1,134 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $600.00, for a total value of $680,400.00. Following the transaction, the chief accounting officer directly owned 13,740 shares of the company’s stock, valued at approximately $8,244,000. This trade represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 60,540 shares of company stock valued at $34,684,738. Company insiders own 5.70% of the company’s stock.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $610.22 on Wednesday. The business’s fifty day simple moving average is $578.93 and its 200 day simple moving average is $673.48. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57. Axon Enterprise, Inc has a 12 month low of $469.24 and a 12 month high of $885.91. The firm has a market capitalization of $48.15 billion, a P/E ratio of 193.11, a price-to-earnings-growth ratio of 19.05 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.46). The business had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 earnings per share. As a group, analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on AXON shares. Piper Sandler lowered their price objective on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. The Goldman Sachs Group decreased their target price on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Monday, December 29th. Royal Bank Of Canada initiated coverage on Axon Enterprise in a report on Monday, November 17th. They set an “outperform” rating and a $860.00 price target for the company. Finally, Wall Street Zen cut Axon Enterprise from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $805.71.

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.