TimesSquare Capital Management LLC Buys 42,226 Shares of Axon Enterprise, Inc $AXON

Key Points

• TimesSquare Capital Management increased its Axon Enterprise stake by 34.2% in the fourth quarter, buying 42,226 additional shares and bringing its total holding to 165,530 shares worth about $94 million.
• Axon reported better-than-expected quarterly results, with earnings of $1.61 per share and revenue of $807.35 million, while revenue jumped 33.7% year over year.
• Analysts remain broadly positive on the stock: Axon has a “Moderate Buy” consensus rating, with 16 Buy ratings and a consensus price target of $712.75.

TimesSquare Capital Management LLC lifted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 34.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 165,530 shares of the biotechnology company's stock after purchasing an additional 42,226 shares during the quarter. Axon Enterprise accounts for about 1.4% of TimesSquare Capital Management LLC's holdings, making the stock its 11th largest position. TimesSquare Capital Management LLC owned about 0.21% of Axon Enterprise worth $94,009,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXON. Brighton Jones LLC bought a new stake in shares of Axon Enterprise during the 4th quarter valued at $480,000. NewEdge Advisors LLC grew its position in Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock worth $1,207,000 after buying an additional 668 shares in the last quarter. Empowered Funds LLC grew its position in Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock worth $1,067,000 after buying an additional 157 shares in the last quarter. Woodline Partners LP grew its position in Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock worth $3,646,000 after buying an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Axon Enterprise during the second quarter worth about $284,000. 79.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a research report on Thursday, May 7th. William Blair restated an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Wall Street Zen upgraded Axon Enterprise from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Craig Hallum restated a "buy" rating and set a $820.00 target price on shares of Axon Enterprise in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. boosted their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $712.75.

Axon Enterprise Trading Up 1.9%

AXON opened at $399.37 on Tuesday. The business has a 50 day simple moving average of $428.80 and a two-hundred day simple moving average of $511.32. The firm has a market capitalization of $32.19 billion, a price-to-earnings ratio of 160.39, a PEG ratio of 9.22 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. The business had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.Axon Enterprise's quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 EPS. Analysts predict that Axon Enterprise, Inc will post 1.41 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, Director Erika Nardini sold 198 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total transaction of $100,302.84. Following the completion of the transaction, the director owned 1,946 shares of the company's stock, valued at $985,804.68. This represents a 9.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jennifer H. Mak sold 1,500 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $573.45, for a total value of $860,175.00. Following the transaction, the chief accounting officer directly owned 12,240 shares of the company's stock, valued at $7,019,028. The trade was a 10.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,855 shares of company stock worth $7,109,828 over the last three months. 4.20% of the stock is owned by corporate insiders.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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