Delta Global Management LP Acquires New Holdings in Axon Enterprise, Inc $AXON

Delta Global Management LP bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,598 shares of the biotechnology company’s stock, valued at approximately $1,953,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Insight Holdings Group LLC acquired a new stake in shares of Axon Enterprise during the 1st quarter valued at $6,787,000. OMERS ADMINISTRATION Corp increased its holdings in Axon Enterprise by 33.3% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 3,420 shares of the biotechnology company’s stock worth $1,452,000 after purchasing an additional 854 shares in the last quarter. 44 Wealth Management LLC raised its position in Axon Enterprise by 6.0% in the first quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company’s stock valued at $225,000 after purchasing an additional 30 shares during the last quarter. Themes Management Co LLC boosted its stake in shares of Axon Enterprise by 65.8% during the first quarter. Themes Management Co LLC now owns 3,668 shares of the biotechnology company’s stock valued at $1,558,000 after purchasing an additional 1,456 shares in the last quarter. Finally, Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Axon Enterprise during the first quarter valued at about $529,000. Institutional investors own 79.08% of the company’s stock.

Insiders Place Their Bets

In other Axon Enterprise news, CRO Cameron Brooks sold 1,242 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the transaction, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $478.97, for a total transaction of $270,139.08. Following the completion of the transaction, the director owned 3,632 shares in the company, valued at $1,739,619.04. This trade represents a 13.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 58,989 shares of company stock valued at $30,527,983 over the last three months. Insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

AXON has been the subject of several recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Needham & Company LLC lifted their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Morgan Stanley set a $600.00 target price on shares of Axon Enterprise in a research report on Thursday, May 7th. Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Finally, TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average target price of $725.25.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $502.34 on Monday. The business’s 50-day moving average price is $483.26 and its two-hundred day moving average price is $478.81. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. The firm has a market capitalization of $40.49 billion, a PE ratio of 201.74, a price-to-earnings-growth ratio of 10.25 and a beta of 1.38. The company has a current ratio of 2.27, a quick ratio of 1.93 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 for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.90 million. During the same quarter in the prior year, the firm posted $1.47 earnings per share. The business’s quarterly revenue was up 33.7% on a year-over-year basis. On average, analysts expect that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Axon Enterprise Profile

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.