Axon Enterprise, Inc $AXON Shares Acquired by Yousif Capital Management LLC

Yousif Capital Management LLC increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 6,248.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 505,323 shares of the biotechnology company’s stock after purchasing an additional 497,363 shares during the quarter. Axon Enterprise accounts for about 2.3% of Yousif Capital Management LLC’s investment portfolio, making the stock its 5th largest holding. Yousif Capital Management LLC’s holdings in Axon Enterprise were worth $213,509,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp increased its stake in Axon Enterprise by 5,700.2% during the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after purchasing an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Axon Enterprise by 18,050.2% during the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after purchasing an additional 13,127,348 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Axon Enterprise by 391,214.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock worth $2,952,943,000 after buying an additional 6,987,098 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Axon Enterprise by 5,022.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after buying an additional 4,183,302 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Axon Enterprise by 8,432.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock worth $1,983,414,000 after buying an additional 3,496,493 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Activity

In related news, insider Jeffrey Kunins sold 9,605 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $626.70, for a total value of $6,019,453.50. Following the sale, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Smith sold 10,000 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the sale, the chief executive officer directly owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 47,397 shares of company stock worth $26,722,984 over the last ninety days. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AXON has been the subject of several research reports. Piper Sandler decreased their price target on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating for the company in a report on Tuesday. The Goldman Sachs Group dropped their price objective on shares of Axon Enterprise from $715.00 to $675.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Tuesday, October 13th. Raymond James Financial set a $675.00 target price on Axon Enterprise in a research note on Thursday, October 15th. Finally, Barclays upped their target price on Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $689.94.

Axon Enterprise Stock Performance

NASDAQ AXON traded up $5.77 during trading hours on Friday, hitting $420.37. The company had a trading volume of 844,988 shares, compared to its average volume of 1,031,962. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $764.02. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $480.64 and a 200-day simple moving average of $473.90. The firm has a market cap of $34.15 billion, a P/E ratio of 174.43, a price-to-earnings-growth ratio of 7.88 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $876.42 million. During the same period last year, the business posted $2.12 earnings per share. The firm’s quarterly revenue was up 35.3% compared to the same quarter last year. Equities analysts predict that Axon Enterprise, Inc will post 2.10 EPS for the current year.

About Axon Enterprise

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.