1832 Asset Management L.P. Invests $81.63 Million in Axon Enterprise, Inc. (NASDAQ:AXON)

1832 Asset Management L.P. purchased a new position in Axon Enterprise, Inc. (NASDAQ:AXON) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 260,900 shares of the biotechnology company’s stock, valued at approximately $81,630,000. 1832 Asset Management L.P. owned approximately 0.35% of Axon Enterprise at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AXON. Norges Bank purchased a new position in shares of Axon Enterprise in the fourth quarter worth about $195,406,000. Motley Fool Asset Management LLC increased its position in Axon Enterprise by 238.7% during the first quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock worth $153,981,000 after purchasing an additional 346,838 shares during the last quarter. Vanguard Group Inc. increased its position in Axon Enterprise by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock worth $2,547,878,000 after purchasing an additional 212,401 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Axon Enterprise during the fourth quarter worth about $39,907,000. Finally, Goldman Sachs Group Inc. increased its position in Axon Enterprise by 110.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 276,011 shares of the biotechnology company’s stock worth $71,302,000 after purchasing an additional 144,568 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Down 0.1 %

Shares of NASDAQ:AXON traded down $0.22 during trading on Friday, hitting $310.59. 347,882 shares of the company were exchanged, compared to its average volume of 449,251. The firm’s 50 day moving average price is $294.49 and its 200-day moving average price is $292.02. Axon Enterprise, Inc. has a 12-month low of $175.37 and a 12-month high of $329.87. The stock has a market capitalization of $23.44 billion, a P/E ratio of 90.82, a PEG ratio of 7.00 and a beta of 0.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.91 and a quick ratio of 2.55.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Friday, May 10th. The biotechnology company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.95 by $0.20. Axon Enterprise had a net margin of 15.60% and a return on equity of 11.71%. The firm had revenue of $460.74 million during the quarter, compared to the consensus estimate of $441.57 million. During the same quarter in the prior year, the firm earned $0.51 EPS. Axon Enterprise’s revenue for the quarter was up 34.3% on a year-over-year basis. On average, research analysts predict that Axon Enterprise, Inc. will post 2.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, Director Jeri Williams sold 308 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $310.07, for a total value of $95,501.56. Following the transaction, the director now directly owns 1,607 shares of the company’s stock, valued at approximately $498,282.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jeffrey C. Kunins sold 43,668 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $309.94, for a total transaction of $13,534,459.92. Following the transaction, the insider now directly owns 189,719 shares of the company’s stock, valued at approximately $58,801,506.86. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeri Williams sold 308 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $310.07, for a total transaction of $95,501.56. Following the transaction, the director now directly owns 1,607 shares in the company, valued at $498,282.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,447 shares of company stock valued at $27,684,677. 6.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AXON shares. Jefferies Financial Group started coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $385.00 price target for the company. Barclays lifted their price target on shares of Axon Enterprise from $308.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Morgan Stanley lifted their price target on shares of Axon Enterprise from $285.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Bank of America initiated coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $380.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and an average price target of $342.54.

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.