AustralianSuper Pty Ltd Raises Stock Holdings in Axon Enterprise, Inc $AXON

AustralianSuper Pty Ltd grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,779 shares of the biotechnology company’s stock after buying an additional 1,806 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Axon Enterprise were worth $59,406,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter worth approximately $480,000. NewEdge Advisors LLC boosted its stake in Axon Enterprise by 41.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 668 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after buying an additional 157 shares in the last quarter. Woodline Partners LP raised its position in shares of Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after buying an additional 2,003 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in shares of Axon Enterprise in the second quarter worth about $284,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Axon Enterprise

In related news, CFO Brittany Bagley sold 2,500 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $610.00, for a total transaction of $1,525,000.00. Following the completion of the transaction, the chief financial officer owned 91,092 shares of the company’s stock, valued at approximately $55,566,120. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $551.92, for a total transaction of $5,519,200.00. Following the completion of the sale, the chief executive officer owned 3,110,997 shares of the company’s stock, valued at $1,717,021,464.24. This trade represents a 0.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 60,540 shares of company stock worth $34,684,738. 5.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AXON has been the subject of several research reports. Northcoast Research raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective for the company in a research note on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, November 5th. Morgan Stanley cut their price target on Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. The Goldman Sachs Group lowered their price objective on Axon Enterprise from $940.00 to $800.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, UBS Group cut their target price on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $805.71.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $549.86 on Thursday. The firm has a market cap of $43.39 billion, a PE ratio of 174.01, a price-to-earnings-growth ratio of 19.21 and a beta of 1.41. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57. Axon Enterprise, Inc has a 52 week low of $469.24 and a 52 week high of $885.91. The business’s fifty day simple moving average is $579.31 and its 200-day simple moving average is $672.62.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.46). The company had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 earnings per share. Equities analysts forecast that Axon Enterprise, Inc will post 5.8 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.