Insight Holdings Group LLC Makes New Investment in Axon Enterprise, Inc $AXON

Key Points

• Insight Holdings Group disclosed a new stake in Axon Enterprise during the first quarter, buying 15,980 shares valued at about $6.8 million. The position makes AXON its 19th-largest holding and about 0.5% of the portfolio.
• Axon reported better-than-expected quarterly results, with EPS of $1.61 versus estimates of $1.60 and revenue of $807.35 million, up 33.7% year over year. Analysts currently expect about $1.63 EPS for the full fiscal year.
• Despite strong analyst support, there has been recent insider selling, including sales by CRO Cameron Brooks and President Joshua Isner. Overall, insiders have sold 58,989 shares worth about $30.5 million over the last three months.

Insight Holdings Group LLC purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,980 shares of the biotechnology company's stock, valued at approximately $6,787,000. Axon Enterprise comprises approximately 0.5% of Insight Holdings Group LLC's holdings, making the stock its 19th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV bought a new position in shares of Axon Enterprise during the fourth quarter worth about $28,000. Sound Income Strategies LLC increased its position in Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after purchasing an additional 44 shares during the period. Camelot Portfolios LLC acquired a new stake in Axon Enterprise during the 4th quarter valued at approximately $30,000. AlphaCentric Advisors LLC acquired a new stake in Axon Enterprise during the 4th quarter valued at approximately $34,000. Finally, Lodestone Wealth Management LLC bought a new position in Axon Enterprise during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Up 2.1%

AXON stock opened at $502.34 on Friday. The stock's 50 day simple moving average is $483.26 and its 200 day simple moving average is $479.59. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The company has a market cap of $40.49 billion, a P/E ratio of 201.74, a price-to-earnings-growth ratio of 10.25 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (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 for the quarter, compared to analyst estimates of $778.90 million. During the same quarter in the prior year, the company earned $1.47 earnings per share. The company's quarterly revenue was up 33.7% on a year-over-year basis. On average, research analysts expect that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AXON has been the topic of a number of recent analyst reports. Morgan Stanley set a $600.00 price target on shares of Axon Enterprise in a research report on Thursday, May 7th. Royal Bank Of Canada reissued an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday. 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. TD Cowen reaffirmed a "buy" rating on shares of Axon Enterprise in a research report on Wednesday. Finally, Barclays decreased their price target on Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of "Moderate Buy" and a consensus target price of $725.25.

Insider Activity at Axon Enterprise

In related news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the transaction, the executive directly owned 49,710 shares in the company, valued at $24,855,000. This trade represents a 2.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president directly owned 169,125 shares of the company's stock, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 58,989 shares of company stock valued at $30,527,983 over the last three months. 4.20% of the stock is currently owned by company insiders.

About Axon Enterprise

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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