7,458 Shares in Axon Enterprise, Inc (NASDAQ:AXON) Bought by Ithaka Group LLC

Key Points

• Ithaka Group LLC acquired a new stake in Axon Enterprise, Inc., purchasing 7,458 shares valued at approximately $3.9 million in the first quarter.
• Several large investors, including Capital World Investors and GAMMA Investing LLC, significantly increased their holdings in Axon, with institutional investors now owning 79.08% of the stock.
• AxonEnterprise reported earnings of $2.12 per share for the last quarter, exceeding analysts' expectations, with a revenue increase of 32.6% year-over-year.

Ithaka Group LLC acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,458 shares of the biotechnology company's stock, valued at approximately $3,923,000.

A number of other hedge funds have also modified their holdings of the business. Vision Financial Markets LLC acquired a new stake in Axon Enterprise during the 1st quarter worth approximately $53,000. iA Global Asset Management Inc. lifted its holdings in shares of Axon Enterprise by 2.6% during the first quarter. iA Global Asset Management Inc. now owns 8,434 shares of the biotechnology company's stock worth $4,436,000 after purchasing an additional 215 shares during the period. Westfield Capital Management Co. LP grew its position in Axon Enterprise by 29.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock valued at $487,977,000 after buying an additional 212,931 shares during the last quarter. IPG Investment Advisors LLC increased its stake in Axon Enterprise by 28.1% in the 1st quarter. IPG Investment Advisors LLC now owns 2,230 shares of the biotechnology company's stock valued at $1,173,000 after buying an additional 489 shares during the period. Finally, Cheviot Value Management LLC purchased a new position in Axon Enterprise during the 1st quarter worth $86,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Needham & Company LLC set a $870.00 price objective on Axon Enterprise and gave the company a "buy" rating in a report on Tuesday. Barclays upped their price objective on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price for the company in a report on Tuesday. JMP Securities upped their price target on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 22nd. Finally, Bank of America increased their price target on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $837.69.

Axon Enterprise Trading Up 0.8%

Shares of Axon Enterprise stock traded up $7.32 during trading hours on Thursday, reaching $870.97. 700,010 shares of the company's stock were exchanged, compared to its average volume of 758,261. Axon Enterprise, Inc has a 52-week low of $344.00 and a 52-week high of $885.91. The company has a fifty day moving average of $772.30 and a 200-day moving average of $663.05. The company has a current ratio of 2.95, a quick ratio of 2.62 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $68.37 billion, a price-to-earnings ratio of 215.05, a price-to-earnings-growth ratio of 19.36 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The firm had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same period in the prior year, the business posted $1.20 earnings per share. The firm's revenue for the quarter was up 32.6% compared to the same quarter last year. Sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Activity

In other news, President Joshua Isner sold 9,905 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $738.03, for a total transaction of $7,310,187.15. Following the completion of the sale, the president directly owned 298,809 shares of the company's stock, valued at $220,530,006.27. The trade was a 3.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $738.84, for a total value of $960,492.00. Following the sale, the director owned 4,829 shares of the company's stock, valued at approximately $3,567,858.36. The trade was a 21.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,642 shares of company stock valued at $25,090,528 in the last ninety days. 4.40% of the stock is owned by company insiders.

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.