Axon Enterprise, Inc $AXON Shares Acquired by Dilation Capital Management LP

Dilation Capital Management LP increased its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 64.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,596 shares of the biotechnology company’s stock after buying an additional 2,989 shares during the quarter. Axon Enterprise comprises about 2.7% of Dilation Capital Management LP’s holdings, making the stock its 16th largest position. Dilation Capital Management LP’s holdings in Axon Enterprise were worth $5,451,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Westside Investment Management Inc. grew its stake in shares of Axon Enterprise by 4.8% in the 2nd quarter. Westside Investment Management Inc. now owns 283 shares of the biotechnology company’s stock valued at $225,000 after purchasing an additional 13 shares during the last quarter. CVA Family Office LLC lifted its holdings in shares of Axon Enterprise by 26.9% during the second quarter. CVA Family Office LLC now owns 66 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 14 shares during the period. Newbridge Financial Services Group Inc. grew its position in Axon Enterprise by 2.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 508 shares of the biotechnology company’s stock valued at $421,000 after buying an additional 14 shares during the last quarter. Vicus Capital increased its stake in Axon Enterprise by 3.7% in the 3rd quarter. Vicus Capital now owns 396 shares of the biotechnology company’s stock valued at $284,000 after buying an additional 14 shares during the period. Finally, Evergreen Capital Management LLC raised its position in Axon Enterprise by 3.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $610.25 on Thursday. The business has a 50 day moving average price of $573.99 and a 200 day moving average price of $678.74. The company has a market capitalization of $48.15 billion, a P/E ratio of 193.12, a PEG ratio of 19.54 and a beta of 1.41. 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 current ratio of 3.12 and a quick ratio of 2.89.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Monday, December 29th. Northcoast Research upgraded Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 target price on the stock in a research report on Tuesday, January 6th. Piper Sandler cut their target price on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $825.00 price objective on shares of Axon Enterprise in a report on Monday, September 29th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Axon Enterprise presently has an average rating of “Moderate Buy” and an average price target of $805.71.

Insider Activity

In other news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $551.92, for a total transaction of $5,519,200.00. Following the completion of the transaction, the chief executive officer directly owned 3,110,997 shares of the company’s stock, valued at $1,717,021,464.24. This trade represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey C. Kunins sold 1,797 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $539.23, for a total transaction of $968,996.31. Following the transaction, the insider directly owned 83,485 shares of the company’s stock, valued at approximately $45,017,616.55. This trade represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,540 shares of company stock worth $34,684,738 in the last three months. Company insiders own 4.40% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.