Castleark Management LLC Buys 8,800 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Castleark Management LLC boosted its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 317.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,570 shares of the biotechnology company’s stock after acquiring an additional 8,800 shares during the period. Castleark Management LLC’s holdings in Axon Enterprise were worth $6,876,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Elequin Capital LP purchased a new position in shares of Axon Enterprise during the 4th quarter valued at $46,000. Voloridge Investment Management LLC raised its holdings in Axon Enterprise by 66.8% during the fourth quarter. Voloridge Investment Management LLC now owns 169,295 shares of the biotechnology company’s stock valued at $100,615,000 after acquiring an additional 67,813 shares during the period. Waverly Advisors LLC bought a new stake in Axon Enterprise during the fourth quarter valued at about $596,000. Worldquant Millennium Advisors LLC bought a new position in shares of Axon Enterprise in the fourth quarter worth about $13,775,000. Finally, Willis Johnson & Associates Inc. bought a new position in shares of Axon Enterprise in the fourth quarter worth about $225,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Up 0.1%

AXON opened at $742.75 on Wednesday. The stock has a 50-day moving average of $592.46 and a 200 day moving average of $598.92. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. Axon Enterprise, Inc. has a 12 month low of $273.52 and a 12 month high of $744.51. The firm has a market cap of $57.82 billion, a P/E ratio of 191.93, a P/E/G ratio of 5.17 and a beta of 1.24.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The business had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. During the same period last year, the company earned $1.15 EPS. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. As a group, research analysts forecast that Axon Enterprise, Inc. will post 5.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AXON shares. JMP Securities reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Craig Hallum cut shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research report on Monday, March 10th. Needham & Company LLC upped 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 Thursday, May 8th. Barclays raised their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $652.73.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the completion of the sale, the chief executive officer now owns 3,063,982 shares in the company, valued at $1,657,583,622.18. This trade represents a 0.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeri Williams sold 307 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the transaction, the director now owns 1,627 shares in the company, valued at $899,275.44. This represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,064 shares of company stock worth $15,817,127. Insiders own 4.40% of the company’s stock.

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.