609,878 Axon Enterprise, Inc $AXON Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 6,204.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 619,707 shares of the biotechnology company’s stock after acquiring an additional 609,878 shares during the quarter. Axon Enterprise accounts for about 1.7% of Sumitomo Mitsui DS Asset Management Company Ltd’s investment portfolio, making the stock its 9th largest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Axon Enterprise were worth $261,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AXON. Rockefeller Capital Management L.P. lifted its holdings in shares of Axon Enterprise by 53.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock valued at $6,542,000 after buying an additional 4,002 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Axon Enterprise by 122,993.6% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 461,601 shares of the biotechnology company’s stock worth $195,036,000 after buying an additional 461,226 shares during the last quarter. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Axon Enterprise in the second quarter worth $3,854,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Axon Enterprise in the first quarter worth $15,067,000. Finally, Brown Lisle Cummings Inc. grew its holdings in shares of Axon Enterprise by 97,231.4% in the second quarter. Brown Lisle Cummings Inc. now owns 34,066 shares of the biotechnology company’s stock worth $19,098,000 after acquiring an additional 34,031 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Down 1.8%

AXON opened at $383.09 on Tuesday. 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, Inc has a 1-year low of $339.01 and a 1-year high of $764.02. The company has a market capitalization of $31.12 billion, a PE ratio of 158.96, a PEG ratio of 7.34 and a beta of 1.44. The firm’s 50 day simple moving average is $497.33 and its two-hundred day simple moving average is $474.55.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. During the same quarter last year, the company posted $2.12 EPS. The company’s revenue was up 35.3% compared to the same quarter last year. As a group, equities analysts forecast that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Insider Buying and Selling

In related news, CEO Patrick Smith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the transaction, the chief executive officer directly owned 3,118,012 shares of the company’s stock, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of Axon Enterprise stock in a transaction on Friday, September 11th. The shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the transaction, the insider owned 56,264 shares in the company, valued at $27,032,038.80. This trade represents a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 47,397 shares of company stock valued at $26,722,984. Company insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. 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. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Citigroup restated a “market outperform” rating on shares of Axon Enterprise in a research note on Thursday, September 17th. UBS Group boosted their price target on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $718.47.

About Axon Enterprise

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.