Axon Enterprise, Inc $AXON Shares Bought by Chicago Capital LLC

Key Points

• Chicago Capital LLC boosted its Axon stake by 24.7% in Q4 to 22,145 shares (an additional 4,384 shares), valuing its position at about $12.58 million.
• Q4 results beat: Axon reported $2.15 EPS vs. $1.60 expected and revenue of $796.7M (up 38.5% YoY), topping analysts' revenue forecast of $755.3M.
• Institutional ownership is high at 79.08%, analysts' consensus is a "Moderate Buy" with a $749.63 target, while the stock trades at a lofty valuation (P/E ~265) and a ~$32.4B market cap.

Chicago Capital LLC increased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 24.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,145 shares of the biotechnology company's stock after acquiring an additional 4,384 shares during the period. Chicago Capital LLC's holdings in Axon Enterprise were worth $12,577,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Axon Enterprise by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company's stock worth $6,684,217,000 after buying an additional 376,904 shares during the period. Baillie Gifford & Co. raised its stake in shares of Axon Enterprise by 1,198.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock worth $932,869,000 after buying an additional 1,516,099 shares during the period. Jennison Associates LLC raised its stake in shares of Axon Enterprise by 53.8% during the 3rd quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company's stock worth $677,412,000 after buying an additional 330,213 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Axon Enterprise by 23.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company's stock worth $476,089,000 after buying an additional 156,647 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Axon Enterprise by 1.6% during the 3rd quarter. Northern Trust Corp now owns 743,926 shares of the biotechnology company's stock worth $533,871,000 after buying an additional 11,726 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Up 2.5%

Shares of NASDAQ:AXON opened at $402.85 on Friday. The business has a 50-day moving average price of $460.07 and a 200 day moving average price of $555.21. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91. The company has a market capitalization of $32.39 billion, a price-to-earnings ratio of 265.03, a PEG ratio of 8.39 and a beta of 1.61. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.55. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The company had revenue of $796.72 million during the quarter, compared to analysts' expectations of $755.29 million. During the same period last year, the business posted $2.08 EPS. Axon Enterprise's revenue for the quarter was up 38.5% on a year-over-year basis. Sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Erika Nardini sold 198 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total transaction of $100,302.84. Following the transaction, the director owned 1,946 shares of the company's stock, valued at $985,804.68. The trade was a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeri Williams sold 157 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total value of $76,930.00. Following the transaction, the director directly owned 1,159 shares in the company, valued at approximately $567,910. This trade represents a 11.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,855 shares of company stock valued at $7,109,828 in the last quarter. Company insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

AXON has been the subject of several research analyst reports. The Goldman Sachs Group reduced their target price on Axon Enterprise from $720.00 to $625.00 and set a "buy" rating for the company in a research note on Wednesday, April 8th. Royal Bank Of Canada dropped their price target on Axon Enterprise from $860.00 to $735.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. Morgan Stanley reiterated an "overweight" rating on shares of Axon Enterprise in a research report on Wednesday, April 8th. JPMorgan Chase & Co. dropped their price target on Axon Enterprise from $925.00 to $750.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, William Blair reiterated an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Sixteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $749.63.

About Axon Enterprise

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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