Cornerstone Advisors LLC Acquires 11,978 Shares of Axon Enterprise, Inc $AXON

Cornerstone Advisors LLC increased its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 64.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,660 shares of the biotechnology company’s stock after acquiring an additional 11,978 shares during the quarter. Cornerstone Advisors LLC’s holdings in Axon Enterprise were worth $17,188,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its stake in shares of Axon Enterprise by 53.2% during 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 purchasing an additional 4,002 shares in the last quarter. Legal & General Group Plc raised its stake in Axon Enterprise by 1.3% in the fourth quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock worth $242,241,000 after buying an additional 5,419 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Axon Enterprise in the fourth quarter worth about $13,116,000. Arrowstreet Capital Limited Partnership purchased a new stake in Axon Enterprise in the first quarter worth about $15,067,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Axon Enterprise by 40.7% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,083 shares of the biotechnology company’s stock worth $6,406,000 after buying an additional 4,360 shares during the period. Institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

AXON has been the topic of a number of research analyst reports. TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Barclays raised their target price on Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Morgan Stanley lifted their price target on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $730.92.

Insider Transactions at Axon Enterprise

In other news, insider Isaiah Fields sold 2,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $400.00, for a total transaction of $800,000.00. Following the sale, the insider owned 52,813 shares in the company, valued at $21,125,200. This represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick W. Smith sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the sale, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. The trade was a 0.65% 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. In the last quarter, insiders have sold 68,989 shares of company stock valued at $36,016,932. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Trading Down 1.4%

Axon Enterprise stock opened at $604.32 on Tuesday. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $794.29. The company has a market capitalization of $49.09 billion, a price-to-earnings ratio of 250.76, a price-to-earnings-growth ratio of 9.95 and a beta of 1.39. The business’s fifty day simple moving average is $528.72 and its two-hundred day simple moving average is $473.44. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the previous year, the firm earned $2.12 EPS. Axon Enterprise’s quarterly revenue was up 35.3% compared to the same quarter last year. As a group, equities analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

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.