Axon Enterprise, Inc $AXON Shares Sold by Castleark Management LLC

Castleark Management LLC reduced its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 9.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,861 shares of the biotechnology company’s stock after selling 958 shares during the period. Castleark Management LLC’s holdings in Axon Enterprise were worth $3,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. lifted its stake in Axon Enterprise by 1,198.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after acquiring an additional 1,516,099 shares in the last quarter. Edgewood Management LLC purchased a new position in Axon Enterprise during the 4th quarter valued at about $846,516,000. Wellington Management Group LLP grew its position in Axon Enterprise by 326.9% in the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock valued at $874,463,000 after acquiring an additional 1,179,038 shares in the last quarter. Norges Bank acquired a new position in Axon Enterprise in the 4th quarter valued at about $515,764,000. Finally, Styrax Capital LP purchased a new stake in Axon Enterprise during the first quarter worth about $84,938,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Up 4.6%

Shares of NASDAQ:AXON opened at $525.48 on Tuesday. The firm’s 50 day moving average price is $485.78 and its 200 day moving average price is $478.09. The stock has a market cap of $42.35 billion, a price-to-earnings ratio of 211.04, a price-to-earnings-growth ratio of 10.25 and a beta of 1.38. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. During the same quarter in the previous year, the firm earned $1.47 earnings per share. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, equities research analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the transaction, the executive owned 49,710 shares of the company’s stock, valued at $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 58,989 shares of company stock valued at $30,527,983. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Morgan Stanley set a $600.00 price objective on shares of Axon Enterprise in a research note on Thursday, May 7th. The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a research note on Thursday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price target on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $725.25.

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.