Clare Market Investments LLC Invests $9.73 Million in Axon Enterprise, Inc $AXON

Clare Market Investments LLC purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,914 shares of the biotechnology company’s stock, valued at approximately $9,731,000. Axon Enterprise makes up 2.0% of Clare Market Investments LLC’s investment portfolio, making the stock its 10th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise during the 4th quarter worth approximately $28,000. Sound Income Strategies LLC raised its position in Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 44 shares during the period. Camelot Portfolios LLC acquired a new position in shares of Axon Enterprise in the 4th quarter valued at $30,000. AlphaCentric Advisors LLC purchased a new position in shares of Axon Enterprise during the 4th quarter worth $34,000. Finally, Lodestone Wealth Management LLC acquired a new position in Axon Enterprise in the fourth quarter valued at about $35,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AXON shares. Needham & Company LLC boosted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research note on Monday. Barclays dropped their price objective on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. UBS Group reduced their price target on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a report on Thursday, May 7th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $722.12.

Insider Buying and Selling

In related news, Director Caitlin Elizabeth Kalinowski sold 564 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the completion of the transaction, the director directly owned 3,632 shares of the company’s stock, valued at $1,739,619.04. This represents a 13.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the sale, the insider directly owned 34,024 shares in the company, valued at $16,501,640. This represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 48,989 shares of company stock worth $24,090,083. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Trading Up 4.1%

NASDAQ AXON opened at $647.56 on Tuesday. The firm’s fifty day moving average is $442.27 and its two-hundred day moving average is $482.38. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The firm has a market cap of $52.19 billion, a PE ratio of 261.80, a P/E/G ratio of 12.18 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period last year, the company earned $1.47 earnings per share. Analysts expect that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Axon Enterprise 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.