On September 20, 2023, it was reported that the Czech National Bank had acquired a new stake in shares of Axon Enterprise, Inc. (NASDAQ: AXON) during the second quarter. This information was derived from the company’s Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased a total of 8,309 shares of Axon Enterprise, valued at approximately $1,621,000.
Axon Enterprise is a biotechnology company that recently released its quarterly earnings results on August 8th, 2023. During this period, the company reported an earnings per share (EPS) of $0.80. This figure surpassed the consensus estimate of $0.33 by an impressive margin of $0.47. Additionally, Axon Enterprise demonstrated a return on equity (ROE) of 10.88% and a net margin of 7.24%. The business generated revenue amounting to $374.61 million for the quarter, exceeding analyst predictions of $347.53 million.
Looking ahead, research analysts anticipate that Axon Enterprise will post earnings per share of 1.96 for the current year.
While this news might be intriguing to some investors and financial enthusiasts, it is important to recognize that investing involves risks and uncertainties. Therefore, individual investors should carefully consider their financial goals and conduct thorough research before making any investment decisions.
In conclusion, the recent purchase of shares in Axon Enterprise by the Czech National Bank suggests confidence in the biotechnology company’s prospects for future growth. Furthermore, Axon Enterprise’s positive quarterly earnings results have provided additional validation for its potential as a profitable investment opportunity. However, as always when it comes to investing in stocks or any other financial instruments, it is essential for investors to exercise caution and make informed choices based on their unique circumstances and risk tolerance levels.
Please note that this article does not constitute investment advice and should not be interpreted as such.
ArrowMark Financial Corp.
Updated on: 05/12/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Buy
Price to book ratio: Buy
DCF: Strong Buy
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Axon Enterprise: Stability, Growth, and Investor Confidence in Law Enforcement Technology
Axon Enterprise, a prominent company in the field of law enforcement technology, has recently experienced changes in its positions due to various hedge funds and institutional investors. ICA Group Wealth Management LLC, Hollencrest Capital Management, Spire Wealth Management, WealthPLAN Partners LLC, and FNY Investment Advisers LLC have all acquired new positions in shares of Axon Enterprise. The acquisitions varied in value from $25,000 to $44,000. These investments reflect the confidence that these firms have in Axon Enterprise.
With regards to analyst evaluations, several research analysts have provided their opinions on Axon Enterprise. Barclays lowered their price target for the company from $256.00 to $239.00 but maintained an “overweight” rating for it in their report. StockNews.com initiated coverage on Axon Enterprise with a “hold” rating. Northland Securities increased their price target for the company from $227.00 to $235.00 and gave it an “outperform” rating. Morgan Stanley also initiated coverage on the stock with an “equal weight” rating and a price target of $230.00. TheStreet downgraded Axon Enterprise’s rating from “b-” to “c+.” Overall, there are two hold ratings and nine buy ratings for this stock according to Bloomberg data. It is worth noting that the consensus price target stands at $244.73.
In recent news related to Axon Enterprise, Director Julie A. Cullivan sold 515 shares of the firm’s stock on September 11th for approximately $110,452.05 ($214.47 per share). The director now owns 5,367 shares valued at approximately $1,151,060.49 following this transaction.
Additionally, Director Hadi Partovi purchased 25,000 shares of the stock on June 23rd at an average price of $191.10 per share for a total value of $4,777,500.00. After this transaction, the director currently holds 413,817 shares valued at $79,080,428.70. Insider activity shows that company insiders have sold a total of 50,298 shares amounting to $9,724,007 over the past ninety days. Insiders now own 6.10% of Axon Enterprise’s stock.
As of September 20, 2023, Axon Enterprise opened at $203.80 per share. The company has a market capitalization of $15.24 billion and a price-to-earnings ratio of 152.09 with a beta value of 0.87. Over the past year, Axon Enterprise’s stock has seen movement between its lowest point of $109.31 and its highest point of $229.95. The firm maintains a debt-to-equity ratio of 0.47 and possesses a quick ratio of 2.98 along with a current ratio of 3.38.
Axon Enterprise continues to demonstrate stability and growth in the law enforcement technology sector with key acquisitions by hedge funds and institutional investors and positive analyst evaluations supporting its potential for success in the market.