Paragon Capital Management Inc. Acquires New Stake in Axon Enterprise, Inc (NASDAQ:AXON)

Paragon Capital Management Inc. bought a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,259 shares of the biotechnology company's stock, valued at approximately $662,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AXON. Capital World Investors grew its holdings in shares of Axon Enterprise by 86.4% in the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after purchasing an additional 841,772 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Axon Enterprise by 273.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock worth $659,128,000 after buying an additional 812,337 shares in the last quarter. Norges Bank purchased a new position in Axon Enterprise in the 4th quarter valued at approximately $482,081,000. GQG Partners LLC acquired a new position in shares of Axon Enterprise in the fourth quarter worth $478,349,000. Finally, GAMMA Investing LLC increased its position in shares of Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after acquiring an additional 763,431 shares during the period. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Axon Enterprise

In related news, CAO Jennifer H. Mak sold 75 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $771.81, for a total transaction of $57,885.75. Following the completion of the sale, the chief accounting officer now owns 15,240 shares in the company, valued at $11,762,384.40. This represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Joshua Isner sold 905 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total transaction of $702,632.95. Following the transaction, the president now directly owns 268,735 shares in the company, valued at $208,643,166.65. The trade was a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,642 shares of company stock worth $30,500,428. Corporate insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Needham & Company LLC lifted their target price on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, May 8th. The Goldman Sachs Group lifted their price objective on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Barclays boosted their price objective on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Craig Hallum cut shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. Finally, Bank of America boosted their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Axon Enterprise has an average rating of "Moderate Buy" and an average target price of $699.55.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $803.95 on Friday. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68. Axon Enterprise, Inc has a 52 week low of $279.02 and a 52 week high of $806.64. The firm's 50 day moving average is $709.79 and its two-hundred day moving average is $629.30. The firm has a market capitalization of $62.59 billion, a P/E ratio of 194.19, a P/E/G ratio of 90.37 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The firm had revenue of $603.63 million for the quarter, compared to the consensus estimate of $585.67 million. During the same period last year, the firm posted $1.15 EPS. The company's revenue was up 31.3% on a year-over-year basis. Research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

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.

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