Chapin Davis Inc. Invests $324,000 in Axon Enterprise, Inc (NASDAQ:AXON)

Chapin Davis Inc. bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 616 shares of the biotechnology company's stock, valued at approximately $324,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXON. Fourth Dimension Wealth LLC acquired a new position in shares of Axon Enterprise in the fourth quarter valued at $30,000. Elequin Capital LP bought a new stake in shares of Axon Enterprise during the fourth quarter worth approximately $46,000. CoreFirst Bank & Trust acquired a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $59,000. Global Financial Private Client LLC increased its stake in shares of Axon Enterprise by 11,100.0% during the first quarter. Global Financial Private Client LLC now owns 112 shares of the biotechnology company's stock worth $59,000 after purchasing an additional 111 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Axon Enterprise during the 1st quarter worth approximately $77,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, President Joshua Isner sold 9,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $683.31, for a total transaction of $6,149,790.00. Following the transaction, the president now directly owns 308,714 shares of the company's stock, valued at $210,947,363.34. This trade represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the transaction, the chief executive officer now owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,642 shares of company stock worth $30,500,428 over the last quarter. 5.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Bank of America increased their price target on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Needham & Company LLC lifted their price objective on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Craig Hallum lowered Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. Finally, The Goldman Sachs Group raised their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $699.55.

Axon Enterprise Trading Down 1.2%

AXON traded down $9.18 during midday trading on Wednesday, hitting $785.07. 436,643 shares of the company were exchanged, compared to its average volume of 710,905. The firm has a market capitalization of $61.12 billion, a P/E ratio of 189.63, a P/E/G ratio of 90.16 and a beta of 1.29. The firm's 50 day moving average price is $700.64 and its 200-day moving average price is $627.10. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68. Axon Enterprise, Inc has a 1-year low of $279.02 and a 1-year high of $806.64.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The business had revenue of $603.63 million for the quarter, compared to analysts' expectations of $585.67 million. During the same period in the prior year, the business posted $1.15 earnings per share. The firm's revenue was up 31.3% on a year-over-year basis. As a group, equities analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Axon Enterprise Profile

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.