Axon Enterprise, Inc $AXON Shares Bought by Sit Investment Associates Inc.

Sit Investment Associates Inc. lifted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 23.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,374 shares of the biotechnology company’s stock after buying an additional 1,574 shares during the period. Sit Investment Associates Inc.’s holdings in Axon Enterprise were worth $4,756,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AXON. Evergreen Capital Management LLC grew its holdings in Axon Enterprise by 3.8% during the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after acquiring an additional 15 shares during the period. Wealth Alliance LLC grew its holdings in Axon Enterprise by 3.2% in the third quarter. Wealth Alliance LLC now owns 583 shares of the biotechnology company’s stock valued at $419,000 after purchasing an additional 18 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Axon Enterprise by 0.5% in the third quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company’s stock valued at $2,848,000 after buying an additional 19 shares in the last quarter. CWA Asset Management Group LLC increased its position in shares of Axon Enterprise by 5.2% in the fourth quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company’s stock valued at $220,000 after buying an additional 19 shares in the last quarter. Finally, Synergy Financial Group LTD increased its position in shares of Axon Enterprise by 1.4% in the third quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock valued at $996,000 after buying an additional 19 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Needham & Company LLC decreased their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Citizens Jmp cut their target price on shares of Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. Royal Bank Of Canada reduced their price target on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Piper Sandler reiterated an “overweight” rating and issued a $674.00 price target on shares of Axon Enterprise in a research report on Monday. Finally, Citigroup reiterated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $712.75.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $423.40 on Friday. The firm has a market cap of $34.13 billion, a P/E ratio of 170.04, a PEG ratio of 7.70 and a beta of 1.45. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The firm’s 50-day simple moving average is $413.25 and its 200-day simple moving average is $485.61.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. During the same period in the previous year, the firm earned $1.47 earnings per share. Axon Enterprise’s revenue was up 33.7% compared to the same quarter last year. As a group, equities analysts forecast that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Insider Buying and Selling

In other news, CRO Cameron Brooks sold 1,242 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the sale, the executive directly owned 49,710 shares in the company, valued at $24,855,000. This represents a 2.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value 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. Insiders have sold 38,989 shares of company stock worth $19,090,083 over the last 90 days. Company insiders own 4.20% of the company’s stock.

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.