Axon Enterprise, Inc $AXON Position Increased by Scalar Gauge Management LLC

Scalar Gauge Management LLC raised its position in Axon Enterprise, Inc (NASDAQ:AXON) by 82.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,500 shares of the biotechnology company’s stock after acquiring an additional 7,000 shares during the quarter. Axon Enterprise makes up about 5.7% of Scalar Gauge Management LLC’s holdings, making the stock its 5th biggest holding. Scalar Gauge Management LLC’s holdings in Axon Enterprise were worth $11,123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in Axon Enterprise by 3.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,423 shares of the biotechnology company’s stock valued at $132,349,000 after purchasing an additional 5,953 shares during the last quarter. Wealthedge Investment Advisors LLC boosted its holdings in shares of Axon Enterprise by 180.7% in the 2nd quarter. Wealthedge Investment Advisors LLC now owns 1,204 shares of the biotechnology company’s stock valued at $997,000 after buying an additional 775 shares in the last quarter. Jaffetilchin Investment Partners LLC grew its position in shares of Axon Enterprise by 11.7% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,938 shares of the biotechnology company’s stock valued at $4,916,000 after buying an additional 624 shares during the last quarter. Vanguard Group Inc. raised its stake in Axon Enterprise by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock worth $7,399,515,000 after acquiring an additional 305,252 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted its position in Axon Enterprise by 3.2% in the second quarter. Duncker Streett & Co. Inc. now owns 14,501 shares of the biotechnology company’s stock valued at $12,006,000 after acquiring an additional 448 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Activity

In other news, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $551.92, for a total value of $5,519,200.00. Following the completion of the transaction, the chief executive officer directly owned 3,110,997 shares of the company’s stock, valued at $1,717,021,464.24. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Joshua Isner sold 20,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $552.60, for a total transaction of $11,052,000.00. Following the completion of the transaction, the president directly owned 249,502 shares of the company’s stock, valued at $137,874,805.20. The trade was a 7.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 60,540 shares of company stock worth $34,684,738. 5.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AXON. Morgan Stanley dropped their price target on Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Northcoast Research raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 target price for the company in a report on Tuesday, January 6th. Piper Sandler lowered their price target on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. The Goldman Sachs Group reduced their price objective on Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Barclays decreased their price objective on Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $805.71.

Axon Enterprise Price Performance

Shares of AXON opened at $605.07 on Tuesday. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average is $577.40 and its two-hundred day moving average is $674.32. Axon Enterprise, Inc has a twelve month low of $469.24 and a twelve month high of $885.91. The firm has a market capitalization of $47.75 billion, a PE ratio of 191.48, a P/E/G ratio of 19.30 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The company had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period last year, the company earned $1.45 earnings per share. Research analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

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.