Northwestern Mutual Wealth Management Co. Acquires New Position in Axon Enterprise, Inc $AXON

Northwestern Mutual Wealth Management Co. acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,345 shares of the biotechnology company’s stock, valued at approximately $1,875,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Evolve Private Wealth LLC acquired a new stake in shares of Axon Enterprise in the 2nd quarter worth approximately $674,000. George Kaiser Family Foundation acquired a new position in Axon Enterprise during the second quarter worth $423,000. Landscape Capital Management L.L.C. purchased a new stake in Axon Enterprise during the second quarter worth $1,257,000. Korea Investment CORP purchased a new stake in Axon Enterprise during the second quarter worth $21,562,000. Finally, Rakuten Securities Inc. acquired a new stake in Axon Enterprise in the second quarter valued at $247,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Axon Enterprise

In other news, 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 sale, the chief executive officer owned 3,060,997 shares in the company, valued at $1,530,498,500. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction on 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 completion of the sale, the insider directly owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. This represents a 8.95% decrease in their position. 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 quarter, insiders have sold 76,594 shares of company stock worth $41,236,386. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AXON. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Citizens Jmp reissued a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. Morgan Stanley raised their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $715.00 price target on shares of Axon Enterprise in a report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $730.92.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $597.59 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The firm has a market cap of $48.55 billion, a PE ratio of 247.96, a P/E/G ratio of 10.19 and a beta of 1.39. The firm has a 50 day simple moving average of $546.20 and a 200-day simple moving average of $478.02. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $794.29.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The firm had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise’s revenue was up 35.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.12 earnings per share. On average, equities analysts expect that Axon Enterprise, Inc will post 2.04 EPS for the current year.

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.