Allstate Corp Increases Position in Axon Enterprise, Inc $AXON

Allstate Corp increased its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 105.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,582 shares of the biotechnology company’s stock after acquiring an additional 2,862 shares during the quarter. Allstate Corp’s holdings in Axon Enterprise were worth $3,170,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Fisher Asset Management LLC increased its holdings in shares of Axon Enterprise by 5.7% in the 4th quarter. Fisher Asset Management LLC now owns 963 shares of the biotechnology company’s stock valued at $547,000 after purchasing an additional 52 shares in the last quarter. Clearstead Advisors LLC increased its holdings in Axon Enterprise by 18.4% during the 4th quarter. Clearstead Advisors LLC now owns 882 shares of the biotechnology company’s stock valued at $501,000 after acquiring an additional 137 shares in the last quarter. Legal & General Group Plc increased its holdings in Axon Enterprise by 1.3% during the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock valued at $242,241,000 after acquiring an additional 5,419 shares in the last quarter. SLT Holdings LLC increased its holdings in Axon Enterprise by 64.0% during the 4th quarter. SLT Holdings LLC now owns 564 shares of the biotechnology company’s stock valued at $320,000 after acquiring an additional 220 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Axon Enterprise by 9.5% during the 4th quarter. Hantz Financial Services Inc. now owns 761 shares of the biotechnology company’s stock valued at $432,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $391.32 on Thursday. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91. The stock has a market capitalization of $31.54 billion, a P/E ratio of 157.16, a P/E/G ratio of 7.01 and a beta of 1.44. The firm’s 50-day moving average is $410.07 and its two-hundred day moving average is $496.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.91 million. During the same period last year, the company earned $1.47 EPS. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. Equities analysts predict that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

Insider Activity

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $400.00, for a total transaction of $800,000.00. Following the sale, the insider directly owned 52,813 shares of the company’s stock, valued at $21,125,200. This trade represents a 3.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Erika Nardini sold 198 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total transaction of $100,302.84. Following the sale, the director directly owned 1,946 shares in the company, valued at $985,804.68. This represents a 9.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,855 shares of company stock valued at $2,907,428 over the last quarter. 4.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AXON has been the subject of several recent research reports. Royal Bank Of Canada dropped their target price on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Barclays dropped their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Craig Hallum restated a “buy” rating and set a $820.00 target price on shares of Axon Enterprise in a report on Wednesday, February 25th. UBS Group dropped their target price on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, William Blair restated an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and an average target price of $712.75.

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.