Versor Investments LP Raises Stock Position in Axon Enterprise, Inc $AXON

Key Points

• Versor Investments LP increased its stake in Axon Enterprise, Inc by 597.8% in the first quarter, now holding 2,798 shares valued at approximately $1.47 million.
• Analysts have set an optimistic price target for Axon, with Needham & Company estimating a target of $870.00, and the consensus price target being $837.69 according to MarketBeat.com.
• Insider trading activity includes Director Hadi Partovi purchasing 1,358 shares for about $1 million, while CEO Patrick W. Smith sold 10,000 shares worth over $8.3 million.

Versor Investments LP grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 597.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,798 shares of the biotechnology company's stock after buying an additional 2,397 shares during the period. Versor Investments LP's holdings in Axon Enterprise were worth $1,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital World Investors lifted its holdings in shares of Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after acquiring an additional 841,772 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Axon Enterprise by 58,725.5% in the 1st 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 last quarter. Jennison Associates LLC lifted its holdings in shares of Axon Enterprise by 23,203.7% in the 1st quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after acquiring an additional 611,418 shares during the last quarter. Nuveen LLC bought a new stake in shares of Axon Enterprise in the 1st quarter worth about $264,796,000. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Axon Enterprise by 29.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock worth $487,977,000 after acquiring an additional 212,931 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of research analyst reports. Needham & Company LLC set a $870.00 price objective on shares of Axon Enterprise and gave the company a "buy" rating in a report on Tuesday, August 5th. Northland Securities set a $800.00 price target on shares of Axon Enterprise in a report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective on the stock in a research report on Tuesday, August 5th. Finally, JMP Securities boosted their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of "Moderate Buy" and a consensus price target of $837.69.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, Director Hadi Partovi purchased 1,358 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $740.00 per share, for a total transaction of $1,004,920.00. Following the transaction, the director directly owned 237,938 shares in the company, valued at $176,074,120. This trade represents a 0.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the transaction, the chief executive officer owned 3,053,982 shares of the company's stock, valued at approximately $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 53,695 shares of company stock worth $40,964,638 over the last 90 days. Company insiders own 5.70% of the company's stock.

Axon Enterprise Stock Up 0.6%

Shares of NASDAQ:AXON opened at $754.24 on Monday. The firm's 50 day moving average price is $773.85 and its 200 day moving average price is $670.41. The stock has a market cap of $59.21 billion, a price-to-earnings ratio of 186.23, a price-to-earnings-growth ratio of 27.68 and a beta of 1.36. Axon Enterprise, Inc has a fifty-two week low of $346.71 and a fifty-two week high of $885.91. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.54 by $0.58. The company had revenue of $668.54 million for 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 firm's revenue was up 32.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. As a group, equities research analysts predict 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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