Atreides Management LP Has $43.36 Million Stake in Axon Enterprise, Inc $AXON

Key Points

• Atreides Management trimmed its Axon stake by 3.2% in the first quarter, selling 3,374 shares and retaining 102,095 shares valued at approximately $43.36 million.
• Axon reported quarterly revenue of $807.35 million, up 33.7% year over year, and earnings of $1.61 per share, narrowly exceeding analyst expectations.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $725.25; however, insiders sold nearly $30.5 million of stock over the past 90 days.

Atreides Management LP trimmed its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 102,095 shares of the biotechnology company's stock after selling 3,374 shares during the period. Axon Enterprise accounts for 0.9% of Atreides Management LP's investment portfolio, making the stock its 28th biggest holding. Atreides Management LP owned 0.13% of Axon Enterprise worth $43,359,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AXON. Evergreen Capital Management LLC raised its position in Axon Enterprise by 3.8% during the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company's stock valued at $342,000 after buying an additional 15 shares during the period. Synergy Financial Group LTD grew its stake in Axon Enterprise by 1.4% during the 3rd quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company's stock valued at $996,000 after acquiring an additional 19 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Axon Enterprise by 1.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company's stock valued at $1,350,000 after purchasing an additional 19 shares during the period. Certuity LLC lifted its position in shares of Axon Enterprise by 5.1% in the fourth quarter. Certuity LLC now owns 474 shares of the biotechnology company's stock worth $269,000 after purchasing an additional 23 shares in the last quarter. Finally, Pure Financial Advisors LLC lifted its position in shares of Axon Enterprise by 6.7% in the fourth quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company's stock worth $207,000 after purchasing an additional 23 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Trading Up 4.2%

Shares of NASDAQ:AXON opened at $547.65 on Wednesday. The stock has a market capitalization of $44.14 billion, a PE ratio of 219.94, a P/E/G ratio of 10.72 and a beta of 1.38. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The firm has a fifty day moving average price of $488.89 and a 200 day moving average price of $477.58. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.90 million. During the same period last year, the company earned $1.47 earnings per share. The business's revenue was up 33.7% compared to the same quarter last year. Analysts expect that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AXON. UBS Group lowered their price objective on shares of Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a research note on Thursday, May 7th. Barclays lowered their price target on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Finally, Zacks Research downgraded shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $725.25.

Insider Buying and Selling

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the transaction, the insider owned 34,024 shares of the company's stock, valued at $16,501,640. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick W. Smith sold 20,000 shares of the company's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the sale, the chief executive officer directly owned 3,060,997 shares of the company's stock, valued at approximately $1,530,498,500. This represents a 0.65% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is owned by corporate insiders.

Axon Enterprise Company 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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