8,185 Shares in Axon Enterprise, Inc $AXON Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the third quarter, Holdings Channel reports. The firm acquired 8,185 shares of the biotechnology company’s stock, valued at approximately $5,874,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stone House Investment Management LLC bought a new position in Axon Enterprise in the 3rd quarter worth approximately $29,000. Hemington Wealth Management raised its holdings in Axon Enterprise by 70.8% during the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 17 shares during the period. Whipplewood Advisors LLC raised its holdings in Axon Enterprise by 192.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 27 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Axon Enterprise during the second quarter worth $37,000. Finally, Root Financial Partners LLC bought a new position in shares of Axon Enterprise in the third quarter worth $34,000. Institutional investors own 79.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday, December 29th. Barclays cut their price objective on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Morgan Stanley lowered their target price on shares of Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Finally, Northcoast Research upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target for the company in a research report on Tuesday, January 6th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $805.71.

Insider Activity

In related news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $551.92, for a total transaction of $5,519,200.00. Following the transaction, the chief executive officer directly owned 3,110,997 shares of the company’s stock, valued at approximately $1,717,021,464.24. This trade represents a 0.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Jennifer H. Mak sold 1,134 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $600.00, for a total value of $680,400.00. Following the completion of the sale, the chief accounting officer directly owned 13,740 shares of the company’s stock, valued at approximately $8,244,000. This represents a 7.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 60,540 shares of company stock worth $34,684,738. 5.70% of the stock is currently owned by insiders.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $610.22 on Wednesday. Axon Enterprise, Inc has a fifty-two week low of $469.24 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12. The stock has a market cap 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. The firm’s fifty day moving average price is $578.93 and its 200-day moving average price is $673.48.

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). Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The company had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. During the same quarter last year, the firm posted $1.45 earnings per share. The firm’s revenue was up 30.6% on a year-over-year basis. On average, equities research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

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.