Square Wave Partners L.P. Buys Shares of 28,975 Axon Enterprise, Inc. (NASDAQ:AXON)

Square Wave Partners L.P. acquired a new position in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 28,975 shares of the biotechnology company's stock, valued at approximately $17,220,000. Axon Enterprise makes up about 16.6% of Square Wave Partners L.P.'s holdings, making the stock its largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ritholtz Wealth Management boosted its stake in shares of Axon Enterprise by 22.7% during the 4th quarter. Ritholtz Wealth Management now owns 616 shares of the biotechnology company's stock worth $366,000 after purchasing an additional 114 shares during the last quarter. Merit Financial Group LLC increased its holdings in shares of Axon Enterprise by 19.0% during the 4th quarter. Merit Financial Group LLC now owns 5,579 shares of the biotechnology company's stock worth $3,316,000 after buying an additional 889 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of Axon Enterprise by 255.3% during the 4th quarter. Brooklyn Investment Group now owns 366 shares of the biotechnology company's stock worth $218,000 after buying an additional 263 shares during the last quarter. Premier Path Wealth Partners LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth $222,000. Finally, HB Wealth Management LLC boosted its holdings in Axon Enterprise by 5.0% in the fourth quarter. HB Wealth Management LLC now owns 1,441 shares of the biotechnology company's stock valued at $856,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Activity at Axon Enterprise

In related news, Director Jeri Williams sold 307 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the transaction, the director now owns 1,627 shares in the company, valued at $899,275.44. The trade was a 15.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $540.99, for a total value of $5,409,900.00. Following the completion of the sale, the chief executive officer now directly owns 3,063,982 shares in the company, valued at $1,657,583,622.18. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,764 shares of company stock valued at $14,856,635 in the last quarter. Insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AXON. The Goldman Sachs Group raised their price objective on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Barclays increased their target price on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Craig Hallum cut shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a research report on Monday, March 10th. JMP Securities reaffirmed an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, February 4th. Finally, Needham & Company LLC upped their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $652.73.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $733.18 on Monday. The firm has a market cap of $57.08 billion, a PE ratio of 189.45, a price-to-earnings-growth ratio of 5.17 and a beta of 1.24. Axon Enterprise, Inc. has a 1 year low of $273.52 and a 1 year high of $735.68. The firm's 50-day simple moving average is $584.61 and its 200-day simple moving average is $595.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. The company had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The business's revenue was up 31.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 EPS. Equities analysts forecast that Axon Enterprise, Inc. will post 5.8 earnings per share for the current fiscal year.

About Axon Enterprise

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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