Legal & General Group Plc Makes New Investment in Axon Enterprise, Inc $AXON

Legal & General Group Plc bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the 2nd quarter, Holdings Channel reports. The firm bought 436,433 shares of the biotechnology company’s stock, valued at approximately $244,669,000.

Several other hedge funds have also made changes to their positions in AXON. BlackRock Inc. increased its holdings in shares of Axon Enterprise by 4.3% during the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock worth $4,672,432,000 after buying an additional 345,365 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Axon Enterprise by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock valued at $1,265,657,000 after acquiring an additional 35,544 shares during the last quarter. Sands Capital Management LLC lifted its holdings in Axon Enterprise by 11.6% in the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after acquiring an additional 167,095 shares during the last quarter. Wellington Management Group LLP grew its position in Axon Enterprise by 326.9% in the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after acquiring an additional 1,179,038 shares during the period. Finally, Edgewood Management LLC purchased a new position in Axon Enterprise in the fourth quarter worth approximately $846,516,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. UBS Group increased their price objective on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Finally, Piper Sandler raised their target price on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $730.92.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CRO Cameron Brooks sold 1,242 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 $621,000.00. Following the completion of the transaction, the executive owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the transaction, the insider directly owned 34,024 shares of the company’s stock, valued at approximately $16,501,640. This represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 76,594 shares of company stock valued at $41,236,386 in the last ninety days. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $607.48 on Thursday. The firm has a market cap of $49.35 billion, a P/E ratio of 252.07, a P/E/G ratio of 9.95 and a beta of 1.39. 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’s 50-day moving average price is $553.45 and its 200 day moving average price is $480.77. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $794.29.

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

About Axon Enterprise

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.