Bridgewater Advisors Inc. Makes New $434,000 Investment in Axon Enterprise, Inc (NASDAQ:AXON)

Bridgewater Advisors Inc. purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 826 shares of the biotechnology company's stock, valued at approximately $434,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors raised its holdings in Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after acquiring an additional 841,772 shares during the last quarter. Alliancebernstein L.P. grew 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 period. Norges Bank acquired a new position in shares of Axon Enterprise during the 4th quarter valued at about $482,081,000. GQG Partners LLC purchased a new position in shares of Axon Enterprise during the 4th quarter worth about $478,349,000. Finally, GAMMA Investing LLC boosted its position in shares of Axon Enterprise by 58,725.5% in the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after acquiring an additional 763,431 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Buying and Selling at Axon Enterprise

In other news, CFO Brittany Bagley sold 3,400 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the completion of the sale, the chief financial officer owned 131,833 shares of the company's stock, valued at approximately $92,283,100. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Joshua Isner sold 9,905 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was 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 approximately $220,530,006.27. This trade represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,642 shares of company stock worth $30,500,428 over the last three months. 5.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AXON shares. Needham & Company LLC boosted their target price on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. The Goldman Sachs Group raised their target price on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Wolfe Research began coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating for the company. Bank of America boosted their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, UBS Group started coverage on Axon Enterprise in a research note on Wednesday. They set a "neutral" rating and a $820.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $763.75.

Axon Enterprise Stock Up 1.4%

Axon Enterprise stock traded up $10.23 during mid-day trading on Friday, hitting $756.09. 404,179 shares of the company's stock were exchanged, compared to its average volume of 563,283. Axon Enterprise, Inc has a 1-year low of $279.02 and a 1-year high of $830.21. The stock has a 50 day moving average of $763.54 and a two-hundred day moving average of $646.31. 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 stock has a market cap of $58.86 billion, a P/E ratio of 182.63, a P/E/G ratio of 87.03 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The business had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. During the same quarter in the previous year, the firm posted $1.15 earnings per share. Axon Enterprise's revenue was up 31.3% compared to the same quarter last year. As a group, analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

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.