Cibc World Market Inc. Purchases New Position in Axon Enterprise, Inc $AXON

Cibc World Market Inc. bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 7,496 shares of the biotechnology company’s stock, valued at approximately $4,202,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV acquired a new stake in Axon Enterprise during the fourth quarter valued at $28,000. Camelot Portfolios LLC acquired a new position in shares of Axon Enterprise in the fourth quarter worth about $30,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Axon Enterprise during the 2nd quarter worth about $31,000. AlphaCentric Advisors LLC purchased a new stake in shares of Axon Enterprise during the 4th quarter worth about $34,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Axon Enterprise during the 2nd quarter valued at about $37,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Patrick W. Smith sold 9,930 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $548.77, for a total transaction of $5,449,286.10. Following the sale, the chief executive officer owned 3,031,067 shares of the company’s stock, valued at approximately $1,663,358,637.59. The trade was a 0.33% 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. Over the last ninety days, insiders sold 76,594 shares of company stock valued at $41,236,386. Insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Performance

AXON opened at $613.26 on Wednesday. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $794.29. The firm has a market capitalization of $49.82 billion, a PE ratio of 254.47, a PEG ratio of 9.70 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 50-day moving average price is $549.76 and its 200 day moving average price is $479.31.

Axon Enterprise (NASDAQ:AXON) last released 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. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same quarter in the prior year, the firm earned $2.12 EPS. Axon Enterprise’s quarterly revenue was up 35.3% on a year-over-year basis. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on AXON. Citizens Jmp restated a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a research note on Thursday, June 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. UBS Group lifted their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Finally, TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.