Nykredit A S Invests $21.02 Million in Axon Enterprise, Inc $AXON

Nykredit A S bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 37,491 shares of the biotechnology company’s stock, valued at approximately $21,018,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AXON. Creative Financial Designs Inc. ADV purchased a new position in Axon Enterprise during the 4th quarter worth $28,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Axon Enterprise in the second quarter valued at about $31,000. AlphaCentric Advisors LLC acquired a new stake in shares of Axon Enterprise during the fourth quarter worth about $34,000. Darwin Wealth Management LLC acquired a new stake in shares of Axon Enterprise during the second quarter worth about $37,000. Finally, Strive Financial Group LLC acquired a new stake in shares of Axon Enterprise during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research cut Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Morgan Stanley increased their price objective on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 target price 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 report on Wednesday, July 22nd. Finally, Barclays boosted their target price on Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.57.

Insiders Place Their Bets

In related news, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the sale, the insider directly owned 97,761 shares in the company, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $643.79, for a total value of $6,437,900.00. Following the transaction, the chief executive officer directly owned 3,040,997 shares in the company, valued at $1,957,763,458.63. This represents a 0.33% 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. In the last 90 days, insiders have sold 56,380 shares of company stock worth $32,582,366. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Up 6.1%

Shares of NASDAQ:AXON opened at $538.15 on Friday. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $792.16. 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 firm’s 50-day simple moving average is $568.46 and its 200-day simple moving average is $486.03. The company has a market cap of $43.72 billion, a price-to-earnings ratio of 223.30, a PEG ratio of 8.23 and a beta of 1.40.

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. 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%. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 earnings per share. As a group, equities research analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share 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.