Dala Group LLC Purchases New Stake in Axon Enterprise, Inc $AXON

Key Points

• Dala Group LLC acquired 3,075 Axon shares worth approximately $1.31 million in the first quarter, making Axon 1.1% of its portfolio. Institutional investors collectively own 79.08% of the company.
• Axon reported quarterly EPS of $1.61, narrowly beating estimates, while revenue rose 33.7% year over year to $807.35 million. Shares opened at $527.76, with a market capitalization of roughly $42.54 billion.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $725.25, although some firms recently cut targets. Insiders sold nearly $30.5 million of stock during the last quarter.

Dala Group LLC acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,075 shares of the biotechnology company's stock, valued at approximately $1,313,000. Axon Enterprise makes up 1.1% of Dala Group LLC's holdings, making the stock its 22nd biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in shares of Axon Enterprise during the 4th quarter valued at about $480,000. NewEdge Advisors LLC increased its position in Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock worth $1,207,000 after purchasing an additional 668 shares during the last quarter. Empowered Funds LLC increased its position in Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock worth $1,067,000 after purchasing an additional 157 shares during the last quarter. Woodline Partners LP raised its stake in Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock worth $3,646,000 after purchasing an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in Axon Enterprise during the second quarter worth about $284,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Up 0.5%

Shares of NASDAQ AXON opened at $527.76 on Friday. The firm has a market cap of $42.54 billion, a price-to-earnings ratio of 211.95, a PEG ratio of 10.77 and a beta of 1.38. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91. The business's 50 day moving average is $497.09 and its two-hundred day moving average is $476.61.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.90 million. During the same period last year, the business posted $1.47 earnings per share. The company's quarterly revenue was up 33.7% on a year-over-year basis. Research analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Analyst Ratings Changes

AXON has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 8th. Barclays reduced their price target on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. TD Cowen reiterated a "buy" rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Finally, UBS Group lowered their price objective on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $725.25.

Insider Activity

In related news, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $400.00, for a total transaction of $800,000.00. Following the completion of the transaction, the insider directly owned 52,813 shares in the company, valued at $21,125,200. This trade represents a 3.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Patrick W. Smith sold 20,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $10,000,000.00. Following the transaction, the chief executive officer owned 3,060,997 shares of the company's stock, valued at $1,530,498,500. This trade represents a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 58,989 shares of company stock worth $30,527,983 in the last quarter. Insiders own 4.20% of the company's stock.

Axon Enterprise Company 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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