Westfield Capital Management Co. LP Has $487.98 Million Position 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 grew its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 29.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 927,801 shares of the biotechnology company's stock after purchasing an additional 212,931 shares during the period. Axon Enterprise comprises about 2.4% of Westfield Capital Management Co. LP's investment portfolio, making the stock its 8th biggest position. Westfield Capital Management Co. LP owned about 1.19% of Axon Enterprise worth $487,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in Axon Enterprise in the fourth quarter valued at about $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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AXON shares. The Goldman Sachs Group boosted their price target 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. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price for the company in a research note on Tuesday. UBS Group increased their price objective on shares of Axon Enterprise from $820.00 to $840.00 and gave the stock a "neutral" rating in a research report on Tuesday. Raymond James Financial increased their price objective on shares of Axon Enterprise from $645.00 to $855.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Barclays increased their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $810.38.

Axon Enterprise Trading Up 16.4%

Shares of NASDAQ AXON traded up $122.24 during midday trading on Tuesday, reaching $867.12. The stock had a trading volume of 2,532,998 shares, compared to its average volume of 631,794. The firm has a market cap of $67.51 billion, a price-to-earnings ratio of 214.10, a price-to-earnings-growth ratio of 83.03 and a beta of 1.36. Axon Enterprise, Inc has a twelve month low of $286.19 and a twelve month high of $885.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.62 and a current ratio of 2.83. The company's 50 day moving average price is $767.23 and its 200 day moving average price is $659.73.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly 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. The firm had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 7.10%. The company's revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 EPS. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insider Activity at Axon Enterprise

In related news, Director Michael Garnreiter sold 5,913 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the transaction, the director owned 17,740 shares in the company, valued at $13,482,400. The trade was a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Joshua Isner sold 9,905 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $738.03, for a total transaction of $7,310,187.15. Following the transaction, the president owned 298,809 shares in the company, valued at $220,530,006.27. The trade was a 3.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,642 shares of company stock worth $25,090,528 over the last ninety days. 5.70% of the stock is owned by corporate insiders.

About Axon Enterprise

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.