Dorsey Wright & Associates Boosts Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Dorsey Wright & Associates grew its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,053 shares of the biotechnology company’s stock after buying an additional 39 shares during the period. Axon Enterprise accounts for 1.1% of Dorsey Wright & Associates’ portfolio, making the stock its 25th biggest holding. Dorsey Wright & Associates’ holdings in Axon Enterprise were worth $4,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AXON. Vanguard Group Inc. lifted its holdings in Axon Enterprise by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock worth $2,547,878,000 after purchasing an additional 212,401 shares in the last quarter. Sands Capital Management LLC lifted its holdings in Axon Enterprise by 0.6% in the 4th quarter. Sands Capital Management LLC now owns 2,628,652 shares of the biotechnology company’s stock worth $679,060,000 after purchasing an additional 16,347 shares in the last quarter. Motley Fool Asset Management LLC lifted its holdings in Axon Enterprise by 238.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock worth $153,981,000 after purchasing an additional 346,838 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Axon Enterprise by 44.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 375,700 shares of the biotechnology company’s stock worth $110,546,000 after purchasing an additional 114,800 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Axon Enterprise by 13.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 368,732 shares of the biotechnology company’s stock worth $108,496,000 after purchasing an additional 45,049 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 25,811 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $359.84, for a total value of $9,287,830.24. Following the completion of the sale, the president now directly owns 228,166 shares in the company, valued at approximately $82,103,253.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $380.99, for a total value of $380,990.00. Following the completion of the sale, the director now directly owns 27,259 shares in the company, valued at approximately $10,385,406.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Joshua Isner sold 25,811 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $359.84, for a total value of $9,287,830.24. Following the completion of the sale, the president now owns 228,166 shares of the company’s stock, valued at $82,103,253.44. The disclosure for this sale can be found here. Insiders sold a total of 317,981 shares of company stock worth $115,662,734 in the last quarter. 6.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AXON. Barclays lifted their price objective on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Craig Hallum lifted their price objective on Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Northland Securities lifted their price objective on Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. JMP Securities lifted their price objective on Axon Enterprise from $375.00 to $430.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, Robert W. Baird lifted their price objective on Axon Enterprise from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.38.

Axon Enterprise Price Performance

AXON opened at $395.34 on Friday. The business has a fifty day moving average of $356.27 and a 200 day moving average of $320.00. Axon Enterprise, Inc. has a 52-week low of $190.01 and a 52-week high of $398.74. The company has a quick ratio of 2.52, a current ratio of 2.88 and a debt-to-equity ratio of 0.35. The stock has a market cap of $29.88 billion, a P/E ratio of 115.60, a PEG ratio of 10.55 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The company had revenue of $504.00 million during the quarter, compared to analysts’ expectations of $478.35 million. During the same quarter in the previous year, the business earned $0.80 EPS. Axon Enterprise’s revenue was up 34.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Axon Enterprise, Inc. will post 1.79 EPS for the current year.

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.