EFG International AG Makes New $22.10 Million Investment in Axon Enterprise, Inc $AXON

EFG International AG bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 39,424 shares of the biotechnology company’s stock, valued at approximately $22,097,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Delos Wealth Advisors LLC purchased a new stake in shares of Axon Enterprise during the 2nd quarter worth approximately $45,000. Primecap Management Co. CA acquired a new stake in shares of Axon Enterprise in the 2nd quarter worth approximately $75,021,000. Canada Pension Plan Investment Board purchased a new position in Axon Enterprise in the 2nd quarter valued at approximately $9,177,000. Castleark Management LLC purchased a new position in Axon Enterprise in the 2nd quarter valued at approximately $13,131,000. Finally, Legal & General Group Plc acquired a new position in Axon Enterprise during the second quarter worth $244,669,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXON has been the topic of a number of research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a research report on Thursday, August 6th. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Finally, Piper Sandler increased their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $730.92.

Axon Enterprise Trading Up 2.6%

Shares of AXON stock opened at $613.26 on Wednesday. The company has a market capitalization of $49.82 billion, a price-to-earnings ratio of 254.47, a PEG ratio of 9.70 and a beta of 1.39. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $549.76 and a 200 day moving average price of $479.31. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $794.29.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.04. The company had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same period last year, the company earned $2.12 EPS. Research analysts forecast that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In related news, President Joshua Isner sold 13,000 shares of the company’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 transaction, the president owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the sale, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. This trade represents a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 76,594 shares of company stock valued at $41,236,386. 4.20% of the stock is owned by corporate insiders.

Axon Enterprise 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.