Westfield Capital Management Co. LP Has $487.98 Million Stake in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Westfield Capital Management Co. LP has increased its stake in Axon Enterprise by 29.8% in the first quarter, making it the 8th largest holding in their portfolio.
• Major analysts have issued positive ratings and target price upgrades for Axon Enterprise, with JPMorgan Chase & Co. raising their target price from $730.00 to $850.00.
• Insider sales have occurred, with Director Michael Garnreiter selling 5,913 shares valued at approximately $4.5 million, reducing his ownership by 25%.

Westfield Capital Management Co. LP boosted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 29.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 927,801 shares of the biotechnology company's stock after acquiring an additional 212,931 shares during the period. Axon Enterprise accounts for 2.4% of Westfield Capital Management Co. LP's portfolio, making the stock its 8th largest position. Westfield Capital Management Co. LP owned 1.19% of Axon Enterprise worth $487,977,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Capital World Investors lifted its holdings in Axon Enterprise by 86.4% during the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after purchasing an additional 841,772 shares during the last quarter. GAMMA Investing LLC grew its position in Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after buying an additional 763,431 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Axon Enterprise by 19.8% during the 4th quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock worth $426,083,000 after purchasing an additional 118,469 shares in the last quarter. Jennison Associates LLC increased its position in shares of Axon Enterprise by 23,203.7% in the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after purchasing an additional 611,418 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Axon Enterprise by 0.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 554,382 shares of the biotechnology company's stock worth $291,577,000 after purchasing an additional 3,185 shares during the period. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Down 3.3%

AXON stock traded down $28.47 during trading on Friday, reaching $842.50. 664,261 shares of the stock were exchanged, compared to its average volume of 708,595. The company has a current ratio of 2.95, a quick ratio of 2.62 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a twelve month low of $346.71 and a twelve month high of $885.91. The firm's 50 day moving average is $772.30 and its 200 day moving average is $663.05. The firm has a market cap of $66.14 billion, a P/E ratio of 208.02, a price-to-earnings-growth ratio of 19.36 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $641.77 million. During the same period last year, the business earned $1.20 EPS. Axon Enterprise's quarterly revenue was up 32.6% compared to the same quarter last year. As a group, research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating and issued a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a research note on Tuesday. JMP Securities lifted their price target on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a report on Tuesday, July 22nd. Northland Securities set a $800.00 target price on shares of Axon Enterprise in a research report on Tuesday. Wolfe Research initiated coverage on Axon Enterprise in a research note on Monday, July 7th. They issued an "outperform" rating for the company. Finally, UBS Group restated a "neutral" rating and set a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $837.69.

Insider Buying and Selling at Axon Enterprise

In other news, CRO Cameron Brooks sold 3,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $740.76, for a total value of $2,222,280.00. Following the completion of the sale, the executive directly owned 19,447 shares of the company's stock, valued at $14,405,559.72. This represents a 13.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total value of $4,493,880.00. Following the transaction, the director directly owned 17,740 shares in the company, valued at approximately $13,482,400. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,642 shares of company stock worth $25,090,528. 4.40% of the stock is currently owned by corporate insiders.

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.