Voloridge Investment Management LLC Increases Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Voloridge Investment Management LLC boosted its stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 66.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,295 shares of the biotechnology company's stock after purchasing an additional 67,813 shares during the quarter. Voloridge Investment Management LLC owned about 0.22% of Axon Enterprise worth $100,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of AXON. Ritholtz Wealth Management raised its stake in Axon Enterprise by 22.7% in the fourth quarter. Ritholtz Wealth Management now owns 616 shares of the biotechnology company's stock valued at $366,000 after purchasing an additional 114 shares in the last quarter. Merit Financial Group LLC raised its stake in Axon Enterprise by 19.0% in the fourth quarter. Merit Financial Group LLC now owns 5,579 shares of the biotechnology company's stock valued at $3,316,000 after purchasing an additional 889 shares in the last quarter. Premier Path Wealth Partners LLC purchased a new stake in Axon Enterprise in the fourth quarter valued at approximately $222,000. HB Wealth Management LLC raised its stake 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 purchasing an additional 68 shares in the last quarter. Finally, Smith Salley Wealth Management purchased a new stake in Axon Enterprise in the fourth quarter valued at approximately $403,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Up 1.2%

Shares of Axon Enterprise stock opened at $742.32 on Tuesday. 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, Inc. has a 52-week low of $273.52 and a 52-week high of $742.34. The stock has a market capitalization of $57.79 billion, a price-to-earnings ratio of 191.81, a P/E/G ratio of 5.17 and a beta of 1.24. The company's 50 day moving average price is $588.30 and its 200-day moving average price is $597.92.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AXON shares. JMP Securities reaffirmed an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Barclays increased their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. The Goldman Sachs Group increased their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Needham & Company LLC increased their price target 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. Finally, Northcoast Research cut shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $652.73.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Monday, April 21st. The shares were sold at an average price of $540.99, for a total value of $5,409,900.00. Following the sale, the chief executive officer now owns 3,063,982 shares in the company, valued at $1,657,583,622.18. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brittany Bagley sold 3,400 shares of Axon Enterprise stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the completion of the sale, the chief financial officer now owns 131,833 shares in the company, valued at approximately $92,283,100. This trade represents a 2.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,764 shares of company stock worth $14,856,635 over the last quarter. Corporate insiders own 4.40% of the company's stock.

Axon Enterprise 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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