Fifth Third Bancorp Buys 12,898 Shares of Axon Enterprise, Inc $AXON

Fifth Third Bancorp grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 396.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,154 shares of the biotechnology company’s stock after buying an additional 12,898 shares during the period. Fifth Third Bancorp’s holdings in Axon Enterprise were worth $6,861,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Axon Enterprise by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock valued at $5,319,928,000 after acquiring an additional 53,060 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Axon Enterprise by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock valued at $1,265,657,000 after purchasing an additional 35,544 shares during the period. Baillie Gifford & Co. increased its position in shares of Axon Enterprise by 1,198.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock valued at $932,869,000 after purchasing an additional 1,516,099 shares during the period. Sands Capital Management LLC raised its stake in shares of Axon Enterprise by 11.6% in the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after purchasing an additional 167,095 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Axon Enterprise by 326.9% in the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock valued at $874,463,000 after purchasing an additional 1,179,038 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $541.75 on Friday. The firm has a market capitalization of $43.67 billion, a P/E ratio of 217.57, a P/E/G ratio of 11.04 and a beta of 1.38. The stock has a fifty day moving average price of $469.54 and a two-hundred day moving average price of $481.68. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91. 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 issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.47 EPS. As a group, analysts anticipate that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AXON shares. JPMorgan Chase & Co. lifted their price target on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. TD Cowen dropped their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a research report on Thursday, May 7th. Citizens Jmp reissued a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, Piper Sandler increased their price target on shares of Axon Enterprise from $674.00 to $724.00 and gave the stock an “overweight” rating in a research report on Monday. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $725.25.

Insider Activity

In other news, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of Axon Enterprise stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the completion of the transaction, the director owned 3,632 shares of the company’s stock, valued at $1,739,619.04. This trade represents a 13.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 58,989 shares of company stock valued at $30,527,983. Corporate insiders own 4.20% of the company’s stock.

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.