Mangrove Partners IM LLC Makes New Investment in Axon Enterprise, Inc $AXON

Mangrove Partners IM LLC purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,828 shares of the biotechnology company’s stock, valued at approximately $1,038,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blair William & Co. IL raised its position in Axon Enterprise by 2.9% during the fourth quarter. Blair William & Co. IL now owns 101,737 shares of the biotechnology company’s stock worth $57,780,000 after acquiring an additional 2,829 shares in the last quarter. Barbara Oil Co. bought a new stake in Axon Enterprise during the fourth quarter worth $963,000. Rakuten Investment Management Inc. raised its position in Axon Enterprise by 631.9% during the fourth quarter. Rakuten Investment Management Inc. now owns 14,456 shares of the biotechnology company’s stock worth $8,392,000 after acquiring an additional 12,481 shares in the last quarter. L2 Asset Management LLC raised its position in Axon Enterprise by 8.4% during the fourth quarter. L2 Asset Management LLC now owns 376 shares of the biotechnology company’s stock worth $214,000 after acquiring an additional 29 shares in the last quarter. Finally, 71 West Capital Partners bought a new stake in Axon Enterprise during the fourth quarter worth $695,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $435.39 on Wednesday. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The company has a market cap of $35.09 billion, a P/E ratio of 174.86, a P/E/G ratio of 8.06 and a beta of 1.45. The firm’s fifty day moving average price is $411.40 and its two-hundred day moving average price is $487.65. 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 (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.91 million. During the same period in the previous year, the company earned $1.47 earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Equities analysts expect that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares in the company, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares in the company, valued at $16,501,640. This trade represents a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 38,989 shares of company stock valued at $19,090,083 in the last three months. Insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. The Goldman Sachs Group set a $535.00 price target on shares of Axon Enterprise in a research report on Thursday, May 7th. Royal Bank Of Canada decreased their price objective on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Needham & Company LLC decreased their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Barclays decreased their price objective on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Citizens Jmp decreased their price objective on shares of Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating on the stock in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and an average price target of $712.75.

Axon Enterprise Company 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.