Scalar Gauge Management LLC Acquires New Shares in Axon Enterprise, Inc. (NASDAQ:AXON)

Scalar Gauge Management LLC bought a new position in Axon Enterprise, Inc. (NASDAQ:AXON) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 19,000 shares of the biotechnology company’s stock, valued at approximately $7,592,000. Axon Enterprise accounts for 4.0% of Scalar Gauge Management LLC’s portfolio, making the stock its 8th biggest position.

A number of other hedge funds have also added to or reduced their stakes in AXON. Fred Alger Management LLC boosted its holdings in Axon Enterprise by 3.1% in the 3rd quarter. Fred Alger Management LLC now owns 30,935 shares of the biotechnology company’s stock valued at $12,362,000 after purchasing an additional 930 shares during the period. Captrust Financial Advisors raised its position in shares of Axon Enterprise by 2.6% in the third quarter. Captrust Financial Advisors now owns 12,406 shares of the biotechnology company’s stock worth $4,958,000 after buying an additional 320 shares in the last quarter. Kingfisher Capital LLC bought a new stake in Axon Enterprise during the third quarter valued at $302,000. Capstone Investment Advisors LLC grew its holdings in shares of Axon Enterprise by 14.1% during the third quarter. Capstone Investment Advisors LLC now owns 1,438 shares of the biotechnology company’s stock worth $575,000 after purchasing an additional 178 shares in the last quarter. Finally, Martingale Asset Management L P bought a new position in shares of Axon Enterprise in the third quarter worth approximately $252,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AXON. Northland Securities boosted their price target on shares of Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird raised their price target on Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Craig Hallum increased their price target on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. JMP Securities boosted their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Finally, Barclays increased their target price 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. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $427.83.

Insider Activity

In other news, President Joshua Isner sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $606.15, for a total transaction of $12,123,000.00. Following the completion of the transaction, the president now directly owns 208,166 shares in the company, valued at $126,179,820.90. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brittany Bagley sold 4,338 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $378.95, for a total transaction of $1,643,885.10. Following the completion of the transaction, the chief financial officer now owns 98,825 shares in the company, valued at approximately $37,449,733.75. The trade was a 4.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 210,256 shares of company stock worth $87,783,120. Insiders own 6.10% of the company’s stock.

Axon Enterprise Trading Up 1.9 %

Shares of NASDAQ AXON opened at $646.96 on Friday. The stock has a market cap 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 has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. Axon Enterprise, Inc. has a 1 year low of $224.28 and a 1 year high of $652.22. The firm has a 50-day moving average of $483.18 and a 200 day moving average of $376.61.

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.