Axon Enterprise, Inc $AXON Shares Bought by Atreides Management LP

Atreides Management LP boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 189.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,469 shares of the biotechnology company’s stock after acquiring an additional 69,008 shares during the quarter. Axon Enterprise comprises 0.7% of Atreides Management LP’s investment portfolio, making the stock its 28th biggest holding. Atreides Management LP’s holdings in Axon Enterprise were worth $59,899,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AXON. Baillie Gifford & Co. lifted its position in Axon Enterprise by 1,198.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after acquiring an additional 1,516,099 shares during the period. Edgewood Management LLC acquired a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $846,516,000. Norges Bank acquired a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $515,764,000. Sands Capital Management LLC lifted its holdings in shares of Axon Enterprise by 11.6% in the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after buying an additional 167,095 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Axon Enterprise by 23.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company’s stock valued at $476,089,000 after buying an additional 156,647 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $423.01 on Thursday. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91. The company has a market capitalization of $34.09 billion, a P/E ratio of 169.88, a PEG ratio of 7.92 and a beta of 1.45. The business has a 50 day moving average price of $411.60 and a 200 day moving average price of $486.87. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.91 million. During the same period last year, the business posted $1.47 EPS. Axon Enterprise’s quarterly revenue was up 33.7% on a year-over-year basis. Sell-side analysts expect that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AXON has been the subject of several recent analyst reports. Citizens Jmp reduced their price target on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating for the company in a report on Thursday, May 7th. Morgan Stanley set a $600.00 price target on Axon Enterprise in a report on Thursday, May 7th. Citigroup reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, February 25th. Zacks Research raised Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings raised Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. One investment 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 company’s stock. Based on data from MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus target price of $712.75.

Insider Transactions at Axon Enterprise

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the transaction, the insider directly owned 34,024 shares of the company’s stock, valued at $16,501,640. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,060,997 shares of the company’s stock, valued at $1,530,498,500. The trade was a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 38,989 shares of company stock worth $19,090,083 over the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

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.