1832 Asset Management L.P. Acquires 302,420 Shares of Axon Enterprise, Inc $AXON

1832 Asset Management L.P. raised its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 129.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 536,420 shares of the biotechnology company’s stock after purchasing an additional 302,420 shares during the period. 1832 Asset Management L.P. owned 0.68% of Axon Enterprise worth $444,124,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA bought a new position in Axon Enterprise in the first quarter worth approximately $31,000. Flaharty Asset Management LLC purchased a new position in shares of Axon Enterprise in the 1st quarter valued at $33,000. Hemington Wealth Management raised its position in shares of Axon Enterprise by 70.8% in the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 17 shares in the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Axon Enterprise by 192.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 27 shares during the last quarter. Finally, NewSquare Capital LLC lifted its stake in shares of Axon Enterprise by 96.2% during the 2nd quarter. NewSquare Capital LLC now owns 51 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brittany Bagley sold 2,500 shares of Axon Enterprise stock in a transaction on Monday, November 10th. The shares were sold at an average price of $610.00, for a total value of $1,525,000.00. Following the sale, the chief financial officer owned 91,092 shares of the company’s stock, valued at approximately $55,566,120. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeri Williams sold 100 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $752.54, for a total transaction of $75,254.00. Following the transaction, the director owned 1,416 shares of the company’s stock, valued at $1,065,596.64. This represents a 6.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,547 shares of company stock valued at $26,385,102 over the last ninety days. 5.70% of the stock is owned by corporate insiders.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $537.75 on Wednesday. The company’s fifty day moving average price is $648.77 and its 200 day moving average price is $724.08. The company has a market capitalization of $42.43 billion, a PE ratio of 170.17, a price-to-earnings-growth ratio of 122.46 and a beta of 1.40. Axon Enterprise, Inc has a 1 year low of $469.24 and a 1 year high of $885.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AXON shares. Barclays reduced their target price on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. 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 research note on Wednesday, November 5th. The Goldman Sachs Group lowered their target price on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Wall Street Zen lowered shares of Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $855.00 price objective (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $814.00.

About Axon Enterprise

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.