CIBC Asset Management Inc Buys 1,374 Shares of Axon Enterprise, Inc $AXON

CIBC Asset Management Inc raised its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,083 shares of the biotechnology company’s stock after purchasing an additional 1,374 shares during the period. CIBC Asset Management Inc’s holdings in Axon Enterprise were worth $23,742,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AXON. Vestor Capital LLC increased its position in Axon Enterprise by 438,636.3% in the 2nd quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock valued at $690,170,000 after buying an additional 833,409 shares in the last quarter. Norges Bank bought a new position in Axon Enterprise in the second quarter worth approximately $637,806,000. Jennison Associates LLC grew its stake in Axon Enterprise by 53.8% in the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock valued at $677,412,000 after acquiring an additional 330,213 shares during the period. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Axon Enterprise during the second quarter valued at approximately $255,833,000. Finally, Vanguard Group Inc. increased its holdings in shares of Axon Enterprise by 3.5% during the second quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock valued at $7,399,515,000 after acquiring an additional 305,252 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Analysts Set New Price Targets

AXON has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen downgraded shares of Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Piper Sandler reduced their price objective on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research report on Monday, December 29th. Finally, Morgan Stanley lowered their target price on shares of Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $805.71.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $613.14 on Monday. The company has a fifty day moving average price of $576.17 and a 200-day moving average price of $675.22. The firm has a market cap of $48.38 billion, a price-to-earnings ratio of 194.03, a PEG ratio of 19.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89. Axon Enterprise, Inc has a 1 year low of $469.24 and a 1 year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.46). The firm had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $704.83 million. Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.45 earnings per share. As a group, equities research analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In related news, CAO Jennifer H. Mak sold 1,134 shares of Axon Enterprise stock in a transaction on Friday, December 19th. The stock was sold at an average price of $600.00, for a total transaction of $680,400.00. Following the sale, the chief accounting officer directly owned 13,740 shares in the company, valued at approximately $8,244,000. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Joshua Isner sold 20,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $552.60, for a total value of $11,052,000.00. Following the completion of the transaction, the president owned 249,502 shares of the company’s stock, valued at $137,874,805.20. This trade represents a 7.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,540 shares of company stock valued at $34,684,738 in the last ninety days. Insiders own 5.70% of the company’s stock.

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.