Atreides Management LP Increases Position in Axon Enterprise, Inc $AXON

Atreides Management LP raised its position in Axon Enterprise, Inc (NASDAQ:AXON) by 189.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,469 shares of the biotechnology company’s stock after purchasing an additional 69,008 shares during the period. Axon Enterprise accounts for 0.7% of Atreides Management LP’s investment portfolio, making the stock its 28th largest holding. Atreides Management LP owned approximately 0.13% of Axon Enterprise worth $59,899,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Axon Enterprise by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock valued at $5,319,928,000 after purchasing an additional 53,060 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Axon Enterprise by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock valued at $1,265,657,000 after purchasing an additional 35,544 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Axon Enterprise by 1,198.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock valued at $932,869,000 after purchasing an additional 1,516,099 shares during the last quarter. Sands Capital Management LLC increased its position in shares of Axon Enterprise by 11.6% in the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after purchasing an additional 167,095 shares during the last quarter. Finally, Edgewood Management LLC purchased a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $846,516,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Axon Enterprise news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the sale, the executive directly owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the sale, the insider directly owned 34,024 shares of the company’s stock, valued at $16,501,640. The trade was a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 38,989 shares of company stock worth $19,090,083 over the last quarter. 4.20% of the stock is owned by insiders.

Axon Enterprise Price Performance

AXON stock opened at $423.01 on Thursday. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $34.09 billion, a P/E ratio of 169.88, a PEG ratio of 7.92 and a beta of 1.45. The business has a 50 day simple moving average of $411.60 and a 200-day simple moving average of $486.87. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $778.91 million. During the same quarter in the prior year, the business earned $1.47 EPS. Axon Enterprise’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, equities analysts anticipate that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on AXON. Craig Hallum reissued a “buy” rating and issued a $820.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. Needham & Company LLC dropped their target price on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Barclays cut their price target on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $712.75.

About Axon Enterprise

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.