Cache Advisors LLC Makes New $2.38 Million Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

Cache Advisors LLC bought a new stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,003 shares of the biotechnology company's stock, valued at approximately $2,379,000. Axon Enterprise makes up about 0.9% of Cache Advisors LLC's investment portfolio, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Axon Enterprise by 3.4% in the fourth 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 during the last quarter. Geode Capital Management LLC boosted its holdings in Axon Enterprise by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company's stock valued at $1,095,542,000 after acquiring an additional 65,097 shares in the last quarter. Capital World Investors boosted its holdings in 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 acquiring an additional 841,772 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Axon Enterprise by 273.8% in the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock valued at $659,128,000 after acquiring an additional 812,337 shares in the last quarter. Finally, Norges Bank bought a new stake in Axon Enterprise in the fourth quarter valued at $482,081,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jeri Williams sold 307 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total value of $169,685.04. Following the transaction, the director now owns 1,627 shares in the company, valued at $899,275.44. The trade was a 15.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Joshua Isner sold 9,905 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $738.03, for a total value of $7,310,187.15. Following the completion of the transaction, the president now directly owns 298,809 shares of the company's stock, 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 a total of 34,969 shares of company stock worth $23,127,314 in the last quarter. Corporate insiders own 4.40% of the company's stock.

Axon Enterprise Stock Up 2.0%

Axon Enterprise stock traded up $14.71 during mid-day trading on Tuesday, reaching $746.08. The stock had a trading volume of 477,301 shares, compared to its average volume of 741,273. The company has a market capitalization of $58.08 billion, a price-to-earnings ratio of 192.79, a PEG ratio of 5.17 and a beta of 1.24. The company has a 50-day moving average price of $606.52 and a two-hundred day moving average price of $606.73. Axon Enterprise, Inc. has a one year low of $273.52 and a one year high of $748.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly 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. The company had revenue of $603.63 million for the quarter, compared to analysts' expectations of $585.67 million. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. Axon Enterprise's revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 EPS. On average, analysts expect that Axon Enterprise, Inc. will post 5.8 EPS for the current fiscal year.

Analysts Set New Price Targets

AXON has been the topic of several recent analyst reports. Craig Hallum cut shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. JMP Securities reiterated an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, February 4th. Barclays lifted their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Northcoast Research cut shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC boosted their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and an average target price of $652.73.

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.