Alta Park Capital LP Makes New Investment in Axon Enterprise, Inc $AXON

Alta Park Capital LP purchased a new position in Axon Enterprise, Inc (NASDAQ:AXON) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 16,523 shares of the biotechnology company’s stock, valued at approximately $9,384,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Axon Enterprise by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock worth $5,319,928,000 after acquiring an additional 53,060 shares during the period. Geode Capital Management LLC boosted its holdings in Axon Enterprise by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock worth $1,265,657,000 after acquiring an additional 35,544 shares during the period. Baillie Gifford & Co. boosted its holdings in Axon Enterprise by 1,198.7% in 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. Sands Capital Management LLC boosted its holdings in 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 worth $914,047,000 after acquiring an additional 167,095 shares during the period. Finally, Edgewood Management LLC purchased a new position in Axon Enterprise in the 4th quarter worth approximately $846,516,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $423.01 on Thursday. The stock has a market cap of $34.09 billion, a P/E ratio of 169.88, a price-to-earnings-growth ratio of 7.92 and a beta of 1.45. 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 stock has a 50 day moving average of $411.60 and a 200-day moving average of $486.87. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91.

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

Analyst Ratings Changes

A number of research firms have weighed in on AXON. The Goldman Sachs Group set a $535.00 price target on Axon Enterprise in a report on Thursday, May 7th. UBS Group decreased their price target on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. TD Cowen decreased their price target on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Needham & Company LLC reduced their target price on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Zacks Research upgraded Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $712.75.

Insider Buying and Selling at Axon Enterprise

In related news, CEO Patrick W. Smith sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the sale, the chief executive officer directly owned 3,060,997 shares of the company’s stock, valued at approximately $1,530,498,500. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $478.97, for a total value of $270,139.08. Following the sale, the director directly owned 3,632 shares in the company, valued at approximately $1,739,619.04. This represents a 13.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 38,989 shares of company stock worth $19,090,083. 4.20% of the stock is owned by 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.