Deepwater Asset Management LLC Purchases Shares of 8,774 Axon Enterprise, Inc $AXON

Deepwater Asset Management LLC purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,774 shares of the biotechnology company’s stock, valued at approximately $4,983,000. Axon Enterprise makes up approximately 1.5% of Deepwater Asset Management LLC’s holdings, making the stock its 26th largest position.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC acquired a new stake in Axon Enterprise during the 4th quarter valued at $480,000. NewEdge Advisors LLC raised its stake in Axon Enterprise by 41.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after purchasing an additional 668 shares during the period. Empowered Funds LLC raised its stake in Axon Enterprise by 8.4% during the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after purchasing an additional 157 shares during the period. Woodline Partners LP raised its stake in Axon Enterprise by 40.6% during the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after purchasing an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in Axon Enterprise during the 2nd quarter valued at $284,000. Institutional investors own 79.08% of the company’s stock.

Insider Activity at Axon Enterprise

In other news, Director Jeri Williams sold 629 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $469.64, for a total value of $295,403.56. Following the transaction, the director directly owned 1,141 shares of the company’s stock, valued at approximately $535,859.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 2,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total transaction of $800,000.00. Following the completion of the transaction, the insider directly owned 52,813 shares in the company, valued at $21,125,200. This trade represents a 3.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,548 shares of company stock valued at $1,542,775. 4.20% of the stock is owned by insiders.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $486.12 on Monday. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $39.18 billion, a PE ratio of 195.23, a price-to-earnings-growth ratio of 8.84 and a beta of 1.45. The firm’s fifty day simple moving average is $408.04 and its 200-day simple moving average is $491.56.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share 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 business had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.91 million. During the same period in the prior year, the business posted $1.47 earnings per share. Axon Enterprise’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Axon Enterprise, Inc will post 1.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Royal Bank Of Canada cut their target price on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. TD Cowen cut their target price on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Piper Sandler cut their target price on shares of Axon Enterprise from $690.00 to $674.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Barclays cut their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and an average target price of $712.75.

Axon Enterprise Company 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.