Corient Private Wealth LP Takes Position in Axon Enterprise, Inc $AXON

by · The Markets Daily

Corient Private Wealth LP purchased a new position in Axon Enterprise, Inc (NASDAQ:AXON – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,525 shares of the biotechnology company’s stock, valued at approximately $4,763,000.

A number of other institutional investors also recently bought and sold shares of the stock. Edgewood Management LLC bought a new stake in shares of Axon Enterprise during the fourth quarter valued at approximately $846,516,000. Wellington Management Group LLP grew its stake in 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 worth $874,463,000 after purchasing an additional 1,179,038 shares during the period. Norges Bank bought a new position in Axon Enterprise in the fourth quarter worth $515,764,000. Bank of America Corp DE bought a new position in Axon Enterprise in the second quarter worth $286,684,000. Finally, Legal & General Group Plc purchased a new position in Axon Enterprise during the second quarter valued at $244,669,000. 79.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

AXON has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Barclays increased their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $730.92.

Read Our Latest Report on Axon Enterprise

Axon Enterprise Stock Down 5.7%

NASDAQ:AXON opened at $566.56 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The firm has a market cap of $46.03 billion, a P/E ratio of 235.09, a P/E/G ratio of 9.75 and a beta of 1.39. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $792.16. The firm has a 50-day simple moving average of $563.88 and a two-hundred day simple moving average of $484.18.

Axon Enterprise (NASDAQ:AXON – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. During the same quarter in the prior year, the company posted $2.12 earnings per share. The business’s revenue for the quarter was up 35.3% on a year-over-year basis. Analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axon Enterprise news, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the completion of the sale, the executive owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the sale, the chief executive officer directly owned 3,060,997 shares of the company’s stock, valued at approximately $1,530,498,500. The trade was a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 75,401 shares of company stock worth $40,670,843 over the last 90 days. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Profile

(Free Report)

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.

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