16,523 Shares in Axon Enterprise, Inc $AXON Purchased by Alta Park Capital LP

Key Points

• Alta Park Capital LP opened a new position in Axon Enterprise, buying 16,523 shares worth about $9.38 million in the fourth quarter.
• Institutional ownership remains high, with 79.08% of Axon stock held by hedge funds and other institutions. Several other funds also added or expanded positions during the period.
• Wall Street sentiment is still constructive: analysts have a Moderate Buy consensus and an average price target of $712.75, even as some firms recently trimmed their targets.

Alta Park Capital LP acquired a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 16,523 shares of the biotechnology company's stock, valued at approximately $9,384,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Creative Financial Designs Inc. ADV acquired a new position in Axon Enterprise in the 4th quarter valued at about $28,000. New Millennium Group LLC acquired a new position in Axon Enterprise in the 3rd quarter valued at about $29,000. Sound Income Strategies LLC raised its stake in Axon Enterprise by 550.0% in the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. Camelot Portfolios LLC acquired a new position in Axon Enterprise in the 4th quarter valued at about $30,000. Finally, AlphaCentric Advisors LLC acquired a new position in Axon Enterprise in the 4th quarter valued at about $34,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXON. Piper Sandler reissued an "overweight" rating and issued a $674.00 target price on shares of Axon Enterprise in a research note on Monday. Citizens Jmp cut their target price on shares of Axon Enterprise from $825.00 to $700.00 and set a "market outperform" rating for the company in a research note on Thursday, May 7th. Zacks Research raised shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 19th. Needham & Company LLC dropped their price objective on shares of 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, JPMorgan Chase & Co. upped their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and an average price target of $712.75.

Insider Activity

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the sale, the insider owned 34,024 shares of the company's stock, valued at approximately $16,501,640. This represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Cameron Brooks sold 1,242 shares of the 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 $621,000.00. Following the sale, the executive directly owned 49,710 shares of the company's stock, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 38,989 shares of company stock worth $19,090,083. Insiders own 4.20% of the company's stock.

Axon Enterprise Trading Down 2.8%

NASDAQ AXON opened at $423.01 on Thursday. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. The company has a 50-day moving average of $411.60 and a 200-day moving average 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. The company has a market cap of $34.09 billion, a P/E ratio of 169.88, a P/E/G ratio of 7.92 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company's quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 EPS. As a group, equities analysts predict that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

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.

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