Aigen Investment Management LP Buys 587 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Aigen Investment Management LP increased its holdings in Axon Enterprise by 42.7%, now owning 1,961 shares valued at over $1 million.
• Axon Enterprise reported a profit of $2.12 EPS for the last quarter, significantly surpassing analyst expectations, with a year-over-year revenue increase of 32.6%.
• Wall Street analysts are optimistic about the company's future, with thirteen analysts rating it as a "buy" and a consensus price target of approximately $837.69.

Aigen Investment Management LP grew its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 42.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,961 shares of the biotechnology company's stock after purchasing an additional 587 shares during the period. Aigen Investment Management LP's holdings in Axon Enterprise were worth $1,031,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Axon Enterprise during the fourth quarter worth approximately $30,000. TCTC Holdings LLC lifted its position in shares of Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 24 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in shares of Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Axon Enterprise during the first quarter worth approximately $32,000. Finally, Alpine Bank Wealth Management acquired a new position in shares of Axon Enterprise during the first quarter worth approximately $40,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXON. Morgan Stanley set a $885.00 price objective on shares of Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. Bank of America raised their target price on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and issued a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Northland Securities set a $800.00 price target on shares of Axon Enterprise in a research note on Tuesday, August 5th. Finally, Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target for the company in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $837.69.

Axon Enterprise Stock Down 0.4%

Shares of NASDAQ:AXON traded down $3.05 on Wednesday, hitting $765.52. 1,128,938 shares of the company traded hands, compared to its average volume of 744,388. Axon Enterprise, Inc has a 52 week low of $346.71 and a 52 week high of $885.91. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $775.38 and a 200-day simple moving average of $668.28. The company has a market cap of $60.09 billion, a PE ratio of 189.02, a PEG ratio of 28.21 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The company had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. During the same period last year, the company earned $1.20 EPS. Axon Enterprise's revenue for the quarter was up 32.6% on a year-over-year basis. As a group, research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CRO Cameron Brooks sold 3,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the sale, the executive directly owned 19,447 shares in the company, valued at $14,405,559.72. The trade was a 13.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer H. Mak sold 75 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $771.81, for a total value of $57,885.75. Following the completion of the transaction, the chief accounting officer directly owned 15,240 shares in the company, valued at approximately $11,762,384.40. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,185 shares of company stock worth $24,126,378. 4.40% of the stock is owned by corporate insiders.

Axon Enterprise Company 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.