Osmosis Investment Management UK Ltd Makes New $7.26 Million Investment in Axon Enterprise, Inc $AXON

Osmosis Investment Management UK Ltd purchased a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,950 shares of the biotechnology company’s stock, valued at approximately $7,260,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXON. Sanctuary Advisors LLC purchased a new stake in shares of Axon Enterprise during the second quarter valued at $1,757,000. Barbara Oil Co. acquired a new stake in Axon Enterprise during the 2nd quarter worth about $2,046,000. Clear Harbor Asset Management LLC purchased a new stake in Axon Enterprise during the 2nd quarter valued at about $3,085,000. Bank of Nova Scotia purchased a new stake in Axon Enterprise during the 2nd quarter valued at about $3,587,000. Finally, Kirtland Hills Capital Management LLC acquired a new position in shares of Axon Enterprise in the second quarter valued at about $413,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $627.75 on Monday. The firm has a market cap of $51.00 billion, a price-to-earnings ratio of 260.48, a price-to-earnings-growth ratio of 10.19 and a beta of 1.39. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $794.29. The business’s 50-day moving average price is $543.11 and its 200 day moving average price is $476.99. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company had revenue of $904.39 million during the quarter, compared to analysts’ expectations of $876.42 million. During the same period last year, the business earned $2.12 earnings per share. Axon Enterprise’s quarterly revenue was up 35.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Insider Buying and Selling at Axon Enterprise

In related news, CEO Patrick W. Smith sold 9,930 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $548.77, for a total value of $5,449,286.10. Following the completion of the transaction, the chief executive officer directly owned 3,031,067 shares in the company, valued at $1,663,358,637.59. The trade was a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the sale, the insider directly owned 34,024 shares in the company, valued at $16,501,640. This trade represents a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 66,989 shares of company stock worth $35,216,932. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AXON. Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Morgan Stanley increased their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $715.00 price objective on shares of Axon Enterprise in a research note on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.