Hsbc Holdings PLC purchased a new stake in Axon Enterprise Inc (NASDAQ:AAXN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,483 shares of the industrial products company’s stock, valued at approximately $852,000.
A number of other hedge funds also recently bought and sold shares of AAXN. Assenagon Asset Management S.A. acquired a new stake in shares of Axon Enterprise during the 4th quarter worth about $2,290,000. Rhumbline Advisers increased its position in Axon Enterprise by 21.9% during the fourth quarter. Rhumbline Advisers now owns 168,675 shares of the industrial products company’s stock worth $7,380,000 after buying an additional 30,280 shares during the period. Morgan Stanley increased its position in Axon Enterprise by 23.8% during the third quarter. Morgan Stanley now owns 435,994 shares of the industrial products company’s stock worth $29,836,000 after buying an additional 83,938 shares during the period. Great Lakes Advisors LLC acquired a new position in Axon Enterprise during the third quarter worth approximately $236,000. Finally, US Bancorp DE increased its position in Axon Enterprise by 14.7% during the third quarter. US Bancorp DE now owns 8,307 shares of the industrial products company’s stock worth $568,000 after buying an additional 1,065 shares during the period. 80.08% of the stock is currently owned by institutional investors.
Shares of AAXN stock opened at $52.05 on Monday. Axon Enterprise Inc has a twelve month low of $37.52 and a twelve month high of $76.45. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 104.10, a P/E/G ratio of 3.94 and a beta of 0.89.
Axon Enterprise (NASDAQ:AAXN) last posted its quarterly earnings results on Tuesday, February 26th. The industrial products company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.03). Axon Enterprise had a net margin of 6.95% and a return on equity of 7.43%. The business had revenue of $114.79 million during the quarter, compared to analysts’ expectations of $104.03 million. During the same quarter last year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, equities research analysts predict that Axon Enterprise Inc will post 0.53 earnings per share for the current fiscal year.
In related news, Director Richard H. Carmona sold 23,810 shares of Axon Enterprise stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $47.76, for a total value of $1,137,165.60. Following the sale, the director now directly owns 94,457 shares in the company, valued at $4,511,266.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Luke Larson sold 36,295 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $51.59, for a total value of $1,872,459.05. Following the completion of the sale, the president now owns 103,110 shares in the company, valued at $5,319,444.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,057 shares of company stock worth $6,011,430. Company insiders own 2.40% of the company’s stock.
Several research analysts have commented on the company. Northland Securities reaffirmed a “buy” rating and set a $70.00 price target on shares of Axon Enterprise in a research report on Wednesday, February 27th. Zacks Investment Research lowered Axon Enterprise from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Northcoast Research raised Axon Enterprise from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Tuesday, March 19th. BidaskClub upgraded Axon Enterprise from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 10th. Finally, ValuEngine upgraded Axon Enterprise from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Axon Enterprise currently has an average rating of “Buy” and an average target price of $68.36.
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Axon Enterprise Company Profile
Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.
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