Rakuten Investment Management Inc. Invests $9.79 Million in Axon Enterprise, Inc $AXON

Rakuten Investment Management Inc. bought a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,177 shares of the biotechnology company’s stock, valued at approximately $9,792,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Axon Enterprise by 4.3% in the second 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 period. Geode Capital Management LLC boosted its position in Axon Enterprise by 1.6% during the 4th 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 in the last quarter. Sands Capital Management LLC grew its holdings in shares of Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock worth $914,047,000 after acquiring an additional 167,095 shares during the period. Wellington Management Group LLP grew its holdings in shares of Axon Enterprise by 326.9% during the 4th 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 bought a new position in shares of Axon Enterprise in the 4th quarter worth approximately $846,516,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the transaction, the president directly owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey C. Kunins sold 9,605 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares in the company, 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. Insiders sold a total of 76,594 shares of company stock worth $41,236,386 in the last ninety days. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group lifted their price target on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Morgan Stanley increased their price objective on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Citizens Jmp reissued a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. Piper Sandler boosted 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. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $730.92.

Axon Enterprise Trading Down 1.7%

Axon Enterprise stock opened at $600.73 on Friday. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $792.16. The company has a market capitalization of $48.80 billion, a price-to-earnings ratio of 249.27, a price-to-earnings-growth ratio of 9.75 and a beta of 1.39. The business’s fifty day simple moving average is $560.75 and its two-hundred day simple moving average is $482.99. 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 issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating 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 was up 35.3% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share. As a group, equities analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal 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.