Norges Bank Invests $195.41 Million in Axon Enterprise, Inc. (NASDAQ:AXON)

Norges Bank bought a new position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 756,421 shares of the biotechnology company’s stock, valued at approximately $195,406,000. Norges Bank owned approximately 1.01% of Axon Enterprise as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AXON. HB Wealth Management LLC lifted its position in Axon Enterprise by 3.9% in the fourth quarter. HB Wealth Management LLC now owns 1,139 shares of the biotechnology company’s stock valued at $294,000 after buying an additional 43 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Axon Enterprise by 1.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,997 shares of the biotechnology company’s stock worth $1,033,000 after purchasing an additional 43 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Axon Enterprise by 11.0% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 44 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Axon Enterprise by 43.3% during the fourth quarter. Lindbrook Capital LLC now owns 172 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 52 shares in the last quarter. Finally, NBC Securities Inc. lifted its position in shares of Axon Enterprise by 1.4% during the fourth quarter. NBC Securities Inc. now owns 3,843 shares of the biotechnology company’s stock worth $992,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Activity

In other news, Director Jeri Williams sold 308 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $310.07, for a total value of $95,501.56. Following the completion of the transaction, the director now owns 1,607 shares in the company, valued at approximately $498,282.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jeri Williams sold 308 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $310.07, for a total value of $95,501.56. Following the completion of the transaction, the director now owns 1,607 shares in the company, valued at approximately $498,282.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua Isner sold 44,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $309.96, for a total transaction of $13,638,240.00. Following the completion of the transaction, the president now owns 275,843 shares of the company’s stock, valued at approximately $85,500,296.28. The disclosure for this sale can be found here. Insiders sold 87,976 shares of company stock worth $27,268,201 in the last 90 days. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AXON shares. William Blair reissued an “outperform” rating on shares of Axon Enterprise in a research report on Wednesday, April 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $375.00 target price on shares of Axon Enterprise in a report on Tuesday, May 7th. Argus began coverage on shares of Axon Enterprise in a report on Wednesday, March 13th. They issued a “buy” rating and a $380.00 target price on the stock. Robert W. Baird raised their target price on shares of Axon Enterprise from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, Morgan Stanley raised their target price on shares of Axon Enterprise from $285.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $335.27.

Axon Enterprise Stock Performance

Shares of AXON opened at $284.87 on Thursday. The firm has a market cap of $21.50 billion, a PE ratio of 83.30 and a beta of 0.91. The company has a current ratio of 2.91, a quick ratio of 2.55 and a debt-to-equity ratio of 0.37. Axon Enterprise, Inc. has a 12-month low of $175.37 and a 12-month high of $329.87. The company’s 50 day simple moving average is $307.19 and its 200-day simple moving average is $273.52.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Friday, May 10th. The biotechnology company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.20. The company had revenue of $460.74 million during the quarter, compared to the consensus estimate of $441.57 million. Axon Enterprise had a net margin of 15.60% and a return on equity of 11.71%. Axon Enterprise’s quarterly revenue was up 34.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. As a group, equities analysts predict that Axon Enterprise, Inc. will post 2.35 EPS for the current year.

Axon Enterprise Company Profile

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.