GAMMA Investing LLC Grows Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

GAMMA Investing LLC boosted its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 58,725.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 764,731 shares of the biotechnology company’s stock after purchasing an additional 763,431 shares during the quarter. GAMMA Investing LLC’s holdings in Axon Enterprise were worth $402,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AXON. Brighton Jones LLC purchased a new stake in Axon Enterprise in the 4th quarter valued at $480,000. Blue Trust Inc. raised its position in Axon Enterprise by 70.4% in the 4th quarter. Blue Trust Inc. now owns 496 shares of the biotechnology company’s stock valued at $295,000 after purchasing an additional 205 shares during the last quarter. Foundations Investment Advisors LLC raised its position in Axon Enterprise by 10.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 608 shares of the biotechnology company’s stock valued at $361,000 after purchasing an additional 56 shares during the last quarter. Perigon Wealth Management LLC purchased a new stake in Axon Enterprise in the 4th quarter valued at $488,000. Finally, R Squared Ltd purchased a new stake in Axon Enterprise in the 4th quarter valued at $91,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

AXON has been the subject of several research reports. Barclays upped their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research report on Monday, March 10th. JMP Securities restated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. Finally, Needham & Company LLC upped their price objective 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and a consensus target price of $652.73.

Insider Activity

In related news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $540.99, for a total value of $5,409,900.00. Following the sale, the chief executive officer now directly owns 3,063,982 shares of the company’s stock, valued at approximately $1,657,583,622.18. This represents a 0.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeri Williams sold 307 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the sale, the director now directly owns 1,627 shares in the company, valued at approximately $899,275.44. The trade was a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,969 shares of company stock worth $23,127,314 in the last 90 days. 5.70% of the stock is currently owned by corporate insiders.

Axon Enterprise Stock Performance

Shares of AXON opened at $743.63 on Friday. The company has a 50-day simple moving average of $620.57 and a 200-day simple moving average of $610.50. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $57.89 billion, a PE ratio of 192.15, a P/E/G ratio of 5.17 and a beta of 1.24. Axon Enterprise, Inc. has a 52-week low of $273.52 and a 52-week high of $755.05.

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

Axon Enterprise Company Profile

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.