Oak Ridge Investments LLC Increases Position in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Oak Ridge Investments LLC increased its holdings in Axon Enterprise by 6.4% in the first quarter, owning 16,117 shares valued at approximately $8.48 million.
• Major institutional investors, including Vanguard Group and Capital World Investors, have also significantly expanded their positions in Axon Enterprise recently, indicating strong confidence in the company.
• Axon Enterprise reported earnings of $2.12 per share for the last quarter, exceeding analysts' expectations and marking a 32.6% increase in revenue year-over-year.

Oak Ridge Investments LLC boosted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,117 shares of the biotechnology company's stock after acquiring an additional 964 shares during the period. Axon Enterprise accounts for 0.7% of Oak Ridge Investments LLC's holdings, making the stock its 29th biggest position. Oak Ridge Investments LLC's holdings in Axon Enterprise were worth $8,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter worth $480,000. Scotia Capital Inc. acquired a new stake in shares of Axon Enterprise in the fourth quarter worth $281,000. Kennedy Capital Management LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter worth $212,000. Townsquare Capital LLC increased its stake in shares of Axon Enterprise by 40.0% in the fourth quarter. Townsquare Capital LLC now owns 913 shares of the biotechnology company's stock worth $542,000 after acquiring an additional 261 shares during the period. Finally, Sagespring Wealth Partners LLC purchased a new stake in shares of Axon Enterprise during the 4th quarter worth about $452,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Analysts Set New Price Targets

AXON has been the subject of a number of analyst reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Wolfe Research began coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating on the stock. Needham & Company LLC set a $870.00 target price on shares of Axon Enterprise and gave the company a "buy" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target on the stock in a research report on Tuesday, August 5th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Stock Up 0.6%

AXON traded up $4.41 during trading hours on Friday, hitting $754.24. 583,176 shares of the company's stock were exchanged, compared to its average volume of 783,867. Axon Enterprise, Inc has a 12-month low of $346.71 and a 12-month high of $885.91. The firm has a 50 day moving average of $773.85 and a 200 day moving average of $670.30. The firm has a market cap of $59.21 billion, a P/E ratio of 186.23, a price-to-earnings-growth ratio of 27.68 and a beta of 1.36. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced 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 net margin of 13.64% and a return on equity of 6.80%. 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 firm earned $1.20 EPS. The firm's revenue for the quarter was up 32.6% on a year-over-year basis. Analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeffrey C. Kunins sold 7,891 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total value of $5,919,039.10. Following the completion of the transaction, the insider owned 144,538 shares in the company, valued at approximately $108,417,953.80. This represents a 5.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Joshua Isner sold 15,919 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the completion of the transaction, the president owned 238,379 shares of the company's stock, valued at approximately $177,892,712.54. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,995 shares of company stock worth $41,925,130. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise Company 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.