Northwestern Mutual Wealth Management Co. Purchases New Position in Axon Enterprise, Inc $AXON

Northwestern Mutual Wealth Management Co. purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,345 shares of the biotechnology company’s stock, valued at approximately $1,875,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXON. Edgewood Management LLC acquired a new position in shares of Axon Enterprise in the 4th quarter valued at $846,516,000. Wellington Management Group LLP boosted its stake in Axon Enterprise by 326.9% in the fourth 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 in the last quarter. Norges Bank purchased a new position in shares of Axon Enterprise during the fourth quarter worth about $515,764,000. BlackRock Inc. grew its holdings in shares of Axon Enterprise by 4.3% during the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock worth $4,672,432,000 after purchasing an additional 345,365 shares during the last quarter. Finally, Styrax Capital LP acquired a new stake in shares of Axon Enterprise during the first quarter worth about $84,938,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $597.59 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The stock has a fifty day moving average price of $546.20 and a 200 day moving average price of $478.02. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $794.29. The company has a market cap of $48.55 billion, a PE ratio of 247.96, a P/E/G ratio of 10.19 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.04. The company 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%. Axon Enterprise’s revenue was up 35.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.12 EPS. Sell-side analysts forecast that Axon Enterprise, Inc will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other news, President Joshua Isner sold 13,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares in the company, valued at $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, the insider directly owned 34,024 shares of the company’s stock, valued at $16,501,640. This represents a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 76,594 shares of company stock valued at $41,236,386. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AXON. JPMorgan Chase & Co. boosted their target price on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. UBS Group lifted 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. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $715.00 target price on shares of Axon Enterprise in a research report on Thursday, August 6th. Thirteen investment 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, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $730.92.

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.