Castleark Management LLC Makes New Investment in Axon Enterprise, Inc $AXON

Castleark Management LLC bought a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,423 shares of the biotechnology company's stock, valued at approximately $13,131,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Legal & General Group Plc purchased a new position in shares of Axon Enterprise during the second quarter valued at approximately $244,669,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Axon Enterprise in the 2nd quarter worth approximately $22,799,000. Fiduciary Financial Advisors purchased a new stake in shares of Axon Enterprise in the 2nd quarter worth approximately $128,000. L2 Asset Management LLC bought a new position in Axon Enterprise during the 2nd quarter valued at approximately $246,000. Finally, Whalen Wealth Management Inc. bought a new position in Axon Enterprise during the 2nd quarter valued at approximately $502,000. Institutional investors own 79.08% of the company's stock.

Insider Buying and Selling

In related news, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the sale, the insider directly owned 97,761 shares in the company, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the transaction, the insider directly owned 34,024 shares of the company's stock, valued at approximately $16,501,640. This trade represents a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 76,594 shares of company stock worth $41,236,386 in the last three months. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Stock Performance

AXON stock opened at $613.26 on Wednesday. The stock's 50 day simple moving average is $549.76 and its 200 day simple moving average is $479.31. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $794.29. The stock has a market capitalization of $49.82 billion, a PE ratio of 254.47, a price-to-earnings-growth ratio of 9.70 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same quarter last year, the company earned $2.12 EPS. The company's quarterly revenue was up 35.3% compared to the same quarter last year. As a group, research analysts forecast that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of recent research reports. Barclays lifted their price objective on Axon Enterprise from $523.00 to $688.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Piper Sandler raised their price target on Axon Enterprise from $724.00 to $732.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $715.00 price target on shares of Axon Enterprise in a research report on Thursday, August 6th. Needham & Company LLC reiterated a "buy" rating on shares of Axon Enterprise in a research note on Thursday, August 6th. Finally, Morgan Stanley upped their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and an average target price of $730.92.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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