Primecap Management Co. CA Invests $75.02 Million in Axon Enterprise, Inc $AXON

Primecap Management Co. CA acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 133,820 shares of the biotechnology company’s stock, valued at approximately $75,021,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Financial Designs Inc. ADV bought a new stake in Axon Enterprise in the 4th quarter valued at approximately $28,000. Camelot Portfolios LLC bought a new position in shares of Axon Enterprise during the 4th quarter worth approximately $30,000. Keating Financial Advisory Services Inc. bought a new position in shares of Axon Enterprise during the 2nd quarter worth approximately $31,000. AlphaCentric Advisors LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $34,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Axon Enterprise in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insiders Place Their Bets

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise 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 completion of the transaction, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey C. Kunins sold 9,605 shares of the business’s 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 transaction, the insider directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,594 shares of company stock worth $41,236,386 in the last three months. Insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $607.48 on Thursday. The firm has a market capitalization of $49.35 billion, a P/E ratio of 252.07, a price-to-earnings-growth ratio of 9.95 and a beta of 1.39. 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 firm’s fifty day moving average price is $553.45 and its two-hundred day moving average price is $480.77. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $794.29.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS 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 the consensus estimate of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 EPS. As a group, research analysts anticipate that Axon Enterprise, Inc will post 2.04 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Morgan Stanley lifted their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research report on Thursday, August 6th. Citizens Jmp restated a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, Piper Sandler raised their price objective on Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a 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 stock. According to MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average target price of $730.92.

Axon Enterprise Company 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.