Spirepoint Private Client LLC Increases Position in Axon Enterprise, Inc (NASDAQ:AXON)

Spirepoint Private Client LLC grew its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 14.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,460 shares of the biotechnology company's stock after purchasing an additional 2,339 shares during the period. Axon Enterprise comprises approximately 1.3% of Spirepoint Private Client LLC's investment portfolio, making the stock its 22nd largest position. Spirepoint Private Client LLC's holdings in Axon Enterprise were worth $9,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AXON. Vanguard Group Inc. increased its holdings in Axon Enterprise by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company's stock worth $5,019,886,000 after purchasing an additional 275,959 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Axon Enterprise by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company's stock worth $1,095,542,000 after purchasing an additional 65,097 shares during the last quarter. Capital World Investors increased its stake in shares of Axon Enterprise by 86.4% in the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after buying an additional 841,772 shares during the period. Alliancebernstein L.P. raised its holdings in Axon Enterprise by 273.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock valued at $659,128,000 after buying an additional 812,337 shares during the last quarter. Finally, Norges Bank acquired a new stake in Axon Enterprise during the 4th quarter worth approximately $482,081,000. 79.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Axon Enterprise Stock Down 1.2%

NASDAQ AXON traded down $9.18 on Wednesday, hitting $785.07. 440,266 shares of the company were exchanged, compared to its average volume of 712,356. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68. The company has a market cap of $61.12 billion, a PE ratio of 189.63, a PEG ratio of 90.16 and a beta of 1.29. The stock has a fifty day moving average of $700.64 and a 200-day moving average of $627.10. Axon Enterprise, Inc has a 12 month low of $279.02 and a 12 month high of $806.64.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued 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 company had revenue of $603.63 million during the quarter, compared to the consensus estimate of $585.67 million. During the same period last year, the business posted $1.15 EPS. The firm's revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Activity

In other news, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the completion of the sale, the chief executive officer now directly owns 3,063,982 shares of the company's stock, valued at $1,657,583,622.18. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the president now directly owns 308,714 shares in the company, valued at approximately $210,947,363.34. The trade was a 2.83% decrease in their position. 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.

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.