40,682 Shares in Axon Enterprise, Inc $AXON Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 40,682 shares of the biotechnology company’s stock, valued at approximately $22,799,000.

Several other large investors also recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in Axon Enterprise during the 4th quarter valued at about $480,000. NewEdge Advisors LLC grew its position in shares of Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after purchasing an additional 668 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Axon Enterprise by 8.4% during the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after purchasing an additional 157 shares in the last quarter. Woodline Partners LP raised its position in shares of Axon Enterprise by 40.6% during the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after purchasing an additional 2,003 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in shares of Axon Enterprise during the 2nd quarter worth approximately $284,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insiders Place Their Bets

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, the insider directly owned 34,024 shares in the company, valued at approximately $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 value of $5,449,286.10. Following the completion of the sale, the chief executive officer directly owned 3,031,067 shares in the company, 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 90 days, insiders have sold 76,594 shares of company stock valued at $41,236,386. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Stock Up 0.6%

Shares of NASDAQ AXON opened at $611.20 on Friday. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $794.29. The firm’s 50 day moving average price is $557.20 and its 200 day moving average price is $482.16. The firm has a market cap of $49.65 billion, a P/E ratio of 253.61, a price-to-earnings-growth ratio of 9.86 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS 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 analysts’ expectations 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 for the quarter was up 35.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.12 EPS. As a group, sell-side analysts anticipate that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AXON shares. Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Piper Sandler boosted their price target on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Barclays upped their price objective on Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley increased their price objective on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $730.92.

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.