Strategy Capital LLC Raises Stock Position in Axon Enterprise, Inc $AXON

Strategy Capital LLC grew its position in Axon Enterprise, Inc (NASDAQ:AXON) by 4.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 432,664 shares of the biotechnology company’s stock after buying an additional 18,727 shares during the period. Axon Enterprise makes up approximately 24.1% of Strategy Capital LLC’s investment portfolio, making the stock its largest position. Strategy Capital LLC’s holdings in Axon Enterprise were worth $358,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AXON. Vestor Capital LLC grew its holdings in Axon Enterprise by 438,636.3% in the 2nd quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock worth $690,170,000 after buying an additional 833,409 shares in the last quarter. Nuveen LLC bought a new stake in Axon Enterprise during the 1st quarter valued at $264,796,000. McElhenny Sheffield Capital Management LLC acquired a new position in Axon Enterprise during the 2nd quarter worth $255,833,000. Vanguard Group Inc. grew its stake in shares of Axon Enterprise by 3.5% in the second quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock worth $7,399,515,000 after purchasing an additional 305,252 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in Axon Enterprise by 29.8% in the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock worth $487,977,000 after purchasing an additional 212,931 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Trading Up 0.8%

NASDAQ:AXON opened at $528.89 on Wednesday. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $672.17 and its 200-day moving average is $730.64. The firm has a market cap of $41.73 billion, a price-to-earnings ratio of 130.59, a P/E/G ratio of 29.49 and a beta of 1.45. Axon Enterprise, Inc has a 12 month low of $469.24 and a 12 month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The firm had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The firm’s revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 EPS. Equities analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler dropped their price objective on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. JMP Securities restated a “market outperform” rating and set a $825.00 price objective on shares of Axon Enterprise in a research report on Monday, September 29th. Northland Securities set a $800.00 target price on shares of Axon Enterprise in a report on Tuesday, August 5th. UBS Group reduced their target price on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group dropped their target price on Axon Enterprise from $940.00 to $800.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $814.00.

Insiders Place Their Bets

In other news, CFO Brittany Bagley sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the completion of the transaction, the chief financial officer directly owned 93,592 shares in the company, valued at $66,813,456.96. The trade was a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeri Williams sold 100 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $752.54, for a total value of $75,254.00. Following the completion of the sale, the director directly owned 1,416 shares of the company’s stock, valued at $1,065,596.64. This represents a 6.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 38,622 shares of company stock valued at $26,439,364. Corporate 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.