Norges Bank Buys New Stake in Axon Enterprise Inc (AAXN)

Norges Bank bought a new stake in shares of Axon Enterprise Inc (NASDAQ:AAXN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 537,800 shares of the industrial products company’s stock, valued at approximately $23,529,000. Norges Bank owned 0.91% of Axon Enterprise at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LS Investment Advisors LLC grew its position in Axon Enterprise by 22.7% during the fourth quarter. LS Investment Advisors LLC now owns 3,829 shares of the industrial products company’s stock valued at $168,000 after buying an additional 708 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Axon Enterprise by 14.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,854 shares of the industrial products company’s stock worth $169,000 after purchasing an additional 491 shares during the period. Laurel Wealth Advisors LLC bought a new position in shares of Axon Enterprise in the fourth quarter worth approximately $179,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Axon Enterprise by 8.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 4,265 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 350 shares during the period. Finally, Advisors Asset Management Inc. bought a new position in shares of Axon Enterprise in the fourth quarter worth approximately $192,000. Institutional investors own 79.76% of the company’s stock.

AAXN has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Axon Enterprise from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Morgan Stanley dropped their price target on shares of Axon Enterprise from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, January 7th. Northcoast Research upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Tuesday, March 19th. BidaskClub upgraded shares of Axon Enterprise from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 10th. Finally, Dougherty & Co upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Friday, April 5th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $68.25.

AAXN stock opened at $59.82 on Monday. Axon Enterprise Inc has a one year low of $39.43 and a one year high of $76.45. The firm has a market capitalization of $3.54 billion, a PE ratio of 119.64, a P/E/G ratio of 4.43 and a beta of 0.89.

Axon Enterprise (NASDAQ:AAXN) last released its earnings results on Tuesday, February 26th. The industrial products company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.03). Axon Enterprise had a return on equity of 7.43% and a net margin of 6.95%. The company had revenue of $114.79 million during the quarter, compared to analysts’ expectations of $104.03 million. During the same period last year, the firm posted $0.17 EPS. Axon Enterprise’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, research analysts expect that Axon Enterprise Inc will post 0.54 EPS for the current fiscal year.

In related news, Director Michael Garnreiter sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $60.00, for a total transaction of $180,000.00. Following the sale, the director now owns 33,261 shares of the company’s stock, valued at $1,995,660. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Joshua Isner sold 6,223 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $51.60, for a total transaction of $321,106.80. Following the sale, the executive now directly owns 42,625 shares in the company, valued at approximately $2,199,450. The disclosure for this sale can be found here. Insiders sold 119,057 shares of company stock worth $6,131,430 in the last three months. Insiders own 2.30% of the company’s stock.

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About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy weapons (CEWs) worldwide. The company operates through two segments, TASER and Software and Sensors. It offers TASER X26P, TASER X2, TASER 7, and TASER Pulse and Bolt CEWs; and related cartridges. The company also provides on-officer body cameras and Axon Fleet in-car video systems; and Axon Evidence connected software network; Axon Records cloud-based records management system; Axon Signal enabled devices; and computer-aided dispatch software, as well as Axon docks, cartridges, and batteries.

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

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