Castleark Management LLC Increases Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Castleark Management LLC increased its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 317.7% in the fourth quarter, Holdings Channel reports. The fund owned 11,570 shares of the biotechnology company’s stock after purchasing an additional 8,800 shares during the quarter. Castleark Management LLC’s holdings in Axon Enterprise were worth $6,876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New Wave Wealth Advisors LLC purchased a new position in Axon Enterprise during the fourth quarter valued at approximately $40,000. Y.D. More Investments Ltd bought a new stake in Axon Enterprise during the 4th quarter valued at $45,000. Elequin Capital LP purchased a new position in shares of Axon Enterprise in the 4th quarter valued at $46,000. Stonebridge Financial Group LLC purchased a new position in shares of Axon Enterprise in the 4th quarter valued at $53,000. Finally, GPS Wealth Strategies Group LLC raised its position in shares of Axon Enterprise by 74.1% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 94 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 40 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Needham & Company LLC raised their price objective on Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. The Goldman Sachs Group boosted their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. JMP Securities reaffirmed an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. Finally, Barclays raised their price objective on Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $652.73.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the sale, the chief executive officer now directly owns 3,063,982 shares of the company’s stock, valued at approximately $1,657,583,622.18. This trade represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeri Williams sold 307 shares of Axon Enterprise stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total value of $169,685.04. Following the transaction, the director now owns 1,627 shares of the company’s stock, valued at $899,275.44. The trade was a 15.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,064 shares of company stock worth $15,817,127. Company insiders own 4.40% of the company’s stock.

Axon Enterprise Stock Up 0.1%

Axon Enterprise stock opened at $742.75 on Wednesday. The business’s 50-day simple moving average is $592.46 and its two-hundred day simple moving average is $598.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The company has a market cap of $57.82 billion, a PE ratio of 191.93, a PEG ratio of 5.17 and a beta of 1.24. Axon Enterprise, Inc. has a fifty-two week low of $273.52 and a fifty-two week high of $744.51.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The firm had revenue of $603.63 million during the quarter, compared to the consensus estimate of $585.67 million. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company’s revenue was up 31.3% compared to the same quarter last year. Equities analysts anticipate that Axon Enterprise, Inc. will post 5.8 EPS for the current year.

About Axon Enterprise

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.