Vanguard Group Inc. Purchases Shares of 5,910,430 Axon Enterprise, Inc. (NASDAQ:AXON)

Vanguard Group Inc. purchased a new stake in Axon Enterprise, Inc. (NASDAQ:AXON) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,910,430 shares of the biotechnology company’s stock, valued at approximately $1,044,964,000. Vanguard Group Inc. owned approximately 0.09% of Axon Enterprise at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Axon Enterprise in the second quarter valued at approximately $1,220,167,000. Baillie Gifford & Co. acquired a new position in shares of Axon Enterprise in the second quarter valued at approximately $800,752,000. William Blair Investment Management LLC acquired a new position in shares of Axon Enterprise in the second quarter valued at approximately $340,588,000. Lord Abbett & CO. LLC acquired a new position in shares of Axon Enterprise in the second quarter valued at approximately $248,663,000. Finally, FMR LLC acquired a new position in shares of Axon Enterprise in the second quarter valued at approximately $224,988,000. 75.32% of the stock is currently owned by institutional investors.

In related news, insider Jeffrey C. Kunins sold 3,169 shares of the firm’s stock in a transaction that occurred on Friday, September 24th. The shares were sold at an average price of $175.61, for a total transaction of $556,508.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick W. Smith sold 31,289 shares of the firm’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $198.00, for a total transaction of $6,195,222.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,203 shares of company stock valued at $10,510,812. Corporate insiders own 2.30% of the company’s stock.

AXON has been the subject of several research analyst reports. Robert W. Baird upped their price target on shares of Axon Enterprise from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, August 6th. Zacks Investment Research raised shares of Axon Enterprise from a “strong sell” rating to a “hold” rating in a research report on Monday. Raymond James increased their price objective on shares of Axon Enterprise from $200.00 to $223.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 6th. Finally, Needham & Company LLC upped their target price on shares of Axon Enterprise from $190.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 6th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Axon Enterprise has a consensus rating of “Buy” and an average price target of $204.50.

Axon Enterprise stock opened at $176.62 on Thursday. The firm’s 50-day moving average is $180.00 and its 200-day moving average is $164.27. Axon Enterprise, Inc. has a 1 year low of $96.66 and a 1 year high of $212.37. The company has a market cap of $11.60 billion, a P/E ratio of -163.54 and a beta of 0.46.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Thursday, August 5th. The biotechnology company reported ($0.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.63). Axon Enterprise had a negative net margin of 8.69% and a negative return on equity of 7.35%. The business had revenue of $218.80 million for the quarter, compared to the consensus estimate of $173.07 million. As a group, equities analysts expect that Axon Enterprise, Inc. will post -1.5 EPS for the current year.

Axon Enterprise Profile

Axon Enterprise, Inc engages in the development, manufacturing, and sale of conducted electrical weapons for personal defense. It operates through the TASER Weapons and Software and Sensors segments. The TASER Weapons segment sells conducted electrical weapons, accessories, and other related products and services.

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Institutional Ownership by Quarter for Axon Enterprise (NASDAQ:AXON)

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