Connor Clark & Lunn Investment Management Ltd. Grows Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 48.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,148 shares of the biotechnology company’s stock after buying an additional 33,120 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.13% of Axon Enterprise worth $53,725,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXON. Brighton Jones LLC purchased a new stake in Axon Enterprise during the 4th quarter worth $480,000. Envestnet Asset Management Inc. grew its holdings in Axon Enterprise by 6.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 85,167 shares of the biotechnology company’s stock worth $50,616,000 after acquiring an additional 5,474 shares in the last quarter. Advisory Services Network LLC grew its holdings in Axon Enterprise by 60.8% during the 4th quarter. Advisory Services Network LLC now owns 2,497 shares of the biotechnology company’s stock worth $1,484,000 after acquiring an additional 944 shares in the last quarter. Phoenix Financial Ltd. acquired a new position in Axon Enterprise during the 4th quarter worth $265,000. Finally, Scotia Capital Inc. acquired a new position in Axon Enterprise during the 4th quarter worth $281,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Down 3.3%

NASDAQ AXON opened at $842.50 on Friday. Axon Enterprise, Inc has a one year low of $346.71 and a one year high of $885.91. The company has a 50-day simple moving average of $774.27 and a 200-day simple moving average of $664.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.62 and a current ratio of 2.95. The firm has a market capitalization of $66.14 billion, a PE ratio of 208.02, a price-to-earnings-growth ratio of 96.51 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.58. The firm had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise’s revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 EPS. On average, equities analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on AXON shares. Bank of America raised their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday. Northland Securities set a $800.00 price objective on shares of Axon Enterprise in a report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Craig Hallum raised shares of Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 price objective for the company in a report on Tuesday. Finally, JMP Securities raised their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $837.69.

Insider Activity

In other Axon Enterprise news, CRO Cameron Brooks sold 3,000 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the transaction, the executive directly owned 19,447 shares of the company’s stock, valued at $14,405,559.72. The trade was a 13.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $738.84, for a total transaction of $960,492.00. Following the transaction, the director directly owned 4,829 shares of the company’s stock, valued at $3,567,858.36. The trade was a 21.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,642 shares of company stock worth $25,090,528 over the last three months. Insiders own 4.40% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.