Axon Enterprise, Inc (NASDAQ:AXON) Position Lifted by Strategy Capital LLC

Key Points

• Strategy Capital LLC increased its stake in Axon Enterprise, Inc by 7.0%, owning 406,647 shares worth approximately $213.88 million, making it the firm's largest investment at 20.4% of their portfolio.
• Axon Enterprise reported a quarterly earnings per share (EPS) of $2.12, exceeding analysts' estimates of $1.54, alongside a revenue of $668.54 million, up 32.6% year-over-year.
• Institutional investors hold 79.08% of Axon Enterprise's stock, with the current analyst consensus rating being a "Moderate Buy" and an average price target of $837.69.

Strategy Capital LLC increased its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,647 shares of the biotechnology company's stock after purchasing an additional 26,698 shares during the quarter. Axon Enterprise makes up approximately 20.4% of Strategy Capital LLC's holdings, making the stock its largest holding. Strategy Capital LLC owned about 0.52% of Axon Enterprise worth $213,876,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. TCTC Holdings LLC lifted its holdings in Axon Enterprise by 75.0% in the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after buying an additional 24 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in Axon Enterprise in the fourth quarter worth about $30,000. Bartlett & CO. Wealth Management LLC lifted its holdings in Axon Enterprise by 132.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after buying an additional 33 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Axon Enterprise in the first quarter worth about $32,000. Finally, Alpine Bank Wealth Management purchased a new stake in Axon Enterprise in the first quarter worth about $40,000. 79.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Wolfe Research assumed coverage on shares of Axon Enterprise in a research note on Monday, July 7th. They set an "outperform" rating for the company. Raymond James Financial reaffirmed an "outperform" rating and set a $855.00 target price (up previously from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. JMP Securities raised their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group raised their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Axon Enterprise currently has an average rating of "Moderate Buy" and a consensus price target of $837.69.

Insider Buying and Selling

In other Axon Enterprise news, CRO Cameron Brooks sold 3,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the sale, the executive directly owned 19,447 shares in the company, valued at $14,405,559.72. The trade was a 13.36% 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 company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the sale, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. The trade was a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,185 shares of company stock valued at $24,126,378 in the last 90 days. Insiders own 4.40% of the company's stock.

Axon Enterprise Stock Down 2.0%

Shares of AXON traded down $15.69 on Thursday, hitting $749.83. 516,445 shares of the stock traded hands, compared to its average volume of 712,537. The company has a market capitalization of $58.86 billion, a PE ratio of 185.14, a P/E/G ratio of 28.21 and a beta of 1.36. The business has a 50 day simple moving average of $775.38 and a 200 day simple moving average of $668.28. Axon Enterprise, Inc has a one year low of $346.71 and a one year high of $885.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95.

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, beating analysts' consensus estimates of $1.54 by $0.58. The business had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The company's quarterly revenue was up 32.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. As a group, equities analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share 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.