Kingdon Capital Management L.L.C. Takes Position in Axon Enterprise, Inc $AXON

Kingdon Capital Management L.L.C. bought a new position in Axon Enterprise, Inc (NASDAQ:AXON) during the 3rd quarter, Holdings Channel reports. The firm bought 10,000 shares of the biotechnology company’s stock, valued at approximately $7,176,000.

A number of other large investors have also bought and sold shares of the business. Stone House Investment Management LLC acquired a new position in Axon Enterprise in the third quarter worth $29,000. New Millennium Group LLC acquired a new stake in shares of Axon Enterprise in the third quarter valued at $29,000. Root Financial Partners LLC bought a new position in shares of Axon Enterprise in the third quarter valued at about $34,000. Darwin Wealth Management LLC bought a new position in shares of Axon Enterprise in the second quarter valued at about $37,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Axon Enterprise during the 2nd quarter worth about $56,000. 79.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AXON has been the topic of a number of research analyst reports. Northcoast Research raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective on the stock in a report on Tuesday, January 6th. Barclays reduced their target price on shares of Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Needham & Company LLC lowered their price target on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a report on Friday, February 20th. Piper Sandler dropped their price objective on shares of Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada decreased their price objective on Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $762.93.

Insiders Place Their Bets

In other news, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $500.24, for a total value of $5,002,400.00. Following the completion of the sale, the chief executive officer directly owned 3,090,997 shares of the company’s stock, valued at $1,546,240,339.28. This represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Isaiah Fields sold 2,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the completion of the sale, the insider owned 55,588 shares in the company, valued at $29,740,135.88. This represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 24,634 shares of company stock worth $13,803,095. Insiders own 5.70% of the company’s stock.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $496.18 on Monday. The firm has a fifty day moving average of $531.08 and a two-hundred day moving average of $608.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53. The stock has a market capitalization of $39.89 billion, a price-to-earnings ratio of 326.44, a PEG ratio of 10.59 and a beta of 1.46. Axon Enterprise, Inc has a 52 week low of $396.41 and a 52 week high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.55. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The business had revenue of $796.72 million for the quarter, compared to analyst estimates of $755.29 million. During the same period last year, the company earned $2.08 EPS. The firm’s revenue was up 38.5% on a year-over-year basis. As a group, equities research analysts predict that Axon Enterprise, Inc will post 5.8 EPS 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.