Canal Insurance CO Acquires New Holdings in Axon Enterprise, Inc $AXON

Canal Insurance CO bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the biotechnology company’s stock, valued at approximately $4,247,000.

Several other large investors also recently added to or reduced their stakes in AXON. Rockefeller Capital Management L.P. raised its stake in shares of Axon Enterprise by 53.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock valued at $6,542,000 after acquiring an additional 4,002 shares in the last quarter. Legal & General Group Plc boosted its position in Axon Enterprise by 1.3% during the fourth quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock worth $242,241,000 after purchasing an additional 5,419 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in Axon Enterprise during the fourth quarter worth approximately $13,116,000. Wealth Enhancement Advisory Services LLC grew its holdings in Axon Enterprise by 93.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company’s stock valued at $13,270,000 after purchasing an additional 11,262 shares during the last quarter. Finally, Teamwork Financial Advisors LLC grew its holdings in Axon Enterprise by 40.5% during the fourth quarter. Teamwork Financial Advisors LLC now owns 25,352 shares of the biotechnology company’s stock valued at $14,398,000 after purchasing an additional 7,307 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $547.00 on Tuesday. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $460.80 and its two-hundred day moving average is $482.64. The company has a market cap of $44.09 billion, a P/E ratio of 219.68, a P/E/G ratio of 11.54 and a beta of 1.38. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.90 million. During the same period in the previous year, the company earned $1.47 earnings per share. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, equities analysts expect that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the completion of the sale, the insider directly owned 52,813 shares of the company’s stock, valued at $21,125,200. This represents a 3.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the completion of the sale, the chief executive officer owned 3,060,997 shares in the company, valued at $1,530,498,500. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 58,989 shares of company stock valued at $30,527,983 in the last three months. 4.20% of the stock is owned by insiders.

Analyst Ratings Changes

AXON has been the topic of a number of recent analyst reports. Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Needham & Company LLC raised their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a research note on Thursday, June 25th. Weiss Ratings upgraded shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Finally, The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $725.25.

About Axon Enterprise

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.