Scalar Gauge Management LLC Takes $7.59 Million Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Scalar Gauge Management LLC acquired a new position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,000 shares of the biotechnology company’s stock, valued at approximately $7,592,000. Axon Enterprise makes up approximately 4.0% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 8th biggest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in shares of Axon Enterprise by 22.4% in the first quarter. Tidal Investments LLC now owns 4,833 shares of the biotechnology company’s stock worth $1,512,000 after purchasing an additional 884 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Axon Enterprise by 280.6% in the 1st quarter. Cetera Investment Advisers now owns 21,067 shares of the biotechnology company’s stock valued at $6,592,000 after acquiring an additional 15,532 shares in the last quarter. Cetera Advisors LLC increased its stake in Axon Enterprise by 49.7% in the first quarter. Cetera Advisors LLC now owns 7,623 shares of the biotechnology company’s stock valued at $2,385,000 after purchasing an additional 2,532 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Axon Enterprise by 45.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 16,986 shares of the biotechnology company’s stock worth $5,321,000 after buying an additional 5,301 shares during the period. Finally, Transcend Capital Advisors LLC acquired a new position in shares of Axon Enterprise during the second quarter worth approximately $206,000. Institutional investors own 79.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays upped their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Needham & Company LLC raised their price target on shares of Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group lifted their price target on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Craig Hallum increased their price objective on Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird lifted their target price on Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $427.83.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $646.96 on Friday. The company has a market capitalization of $49.33 billion, a P/E ratio of 167.17, a price-to-earnings-growth ratio of 13.97 and a beta of 0.94. The company’s 50-day moving average is $483.18 and its 200 day moving average is $376.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. Axon Enterprise, Inc. has a fifty-two week low of $224.28 and a fifty-two week high of $652.22.

Insiders Place Their Bets

In other news, Director Jeri Williams sold 110 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $400.00, for a total transaction of $44,000.00. Following the completion of the sale, the director now owns 1,934 shares in the company, valued at $773,600. This trade represents a 5.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julie A. Cullivan sold 900 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $353.53, for a total value of $318,177.00. Following the transaction, the director now owns 3,653 shares of the company’s stock, valued at $1,291,445.09. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 210,256 shares of company stock valued at $87,783,120. Company insiders own 6.10% 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.