Russell Investments Group Ltd. Makes New Investment in Axon Enterprise Inc (NASDAQ:AAXN)

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Russell Investments Group Ltd. acquired a new position in Axon Enterprise Inc (NASDAQ:AAXN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 63,569 shares of the industrial products company’s stock, valued at approximately $4,190,000. Russell Investments Group Ltd. owned approximately 0.11% of Axon Enterprise as of its most recent SEC filing.

Several other large investors have also modified their holdings of AAXN. Quad Cities Investment Group LLC grew its stake in shares of Axon Enterprise by 400.0% in the 2nd quarter. Quad Cities Investment Group LLC now owns 500 shares of the industrial products company’s stock worth $32,000 after buying an additional 400 shares in the last quarter. Executive Wealth Management LLC purchased a new position in shares of Axon Enterprise in the 2nd quarter worth $32,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Axon Enterprise in the 2nd quarter worth $103,000. Stephens Inc. AR grew its stake in shares of Axon Enterprise by 201.1% in the 1st quarter. Stephens Inc. AR now owns 2,845 shares of the industrial products company’s stock worth $155,000 after buying an additional 1,900 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Axon Enterprise by 9.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,977 shares of the industrial products company’s stock worth $191,000 after buying an additional 254 shares in the last quarter. 83.99% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on AAXN. BidaskClub raised shares of Axon Enterprise from a “hold” rating to a “buy” rating in a research note on Saturday, August 3rd. Needham & Company LLC cut shares of Axon Enterprise from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $81.00 price objective (up from $73.00) on shares of Axon Enterprise in a research note on Thursday, June 20th. TheStreet cut shares of Axon Enterprise from a “b-” rating to a “c+” rating in a research note on Wednesday, July 10th. Finally, Zacks Investment Research cut shares of Axon Enterprise from a “buy” rating to a “sell” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $71.38.

Shares of Axon Enterprise stock traded up $0.74 during trading on Friday, hitting $65.11. The stock had a trading volume of 428,924 shares, compared to its average volume of 544,957. The firm’s fifty day simple moving average is $62.73 and its 200-day simple moving average is $62.11. The stock has a market cap of $3.81 billion, a PE ratio of 130.22, a PEG ratio of 8.41 and a beta of 0.71. Axon Enterprise Inc has a 12 month low of $39.43 and a 12 month high of $74.93.

Axon Enterprise (NASDAQ:AAXN) last released its earnings results on Thursday, August 8th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.05). The firm had revenue of $112.36 million during the quarter, compared to the consensus estimate of $115.41 million. Axon Enterprise had a return on equity of 3.19% and a net margin of 3.34%. Axon Enterprise’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. Analysts forecast that Axon Enterprise Inc will post 0.51 earnings per share for the current year.

In other news, Director Julie A. Cullivan sold 1,360 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.86, for a total value of $78,689.60. Following the completion of the sale, the director now owns 7,815 shares in the company, valued at approximately $452,175.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Axon Enterprise Company Profile

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.

Further Reading: When can a hold rating present a buying opportunity?

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

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