Skye Global Management LP Makes New Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

Skye Global Management LP acquired a new stake in Axon Enterprise, Inc. (NASDAQ:AXON) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,200 shares of the biotechnology company’s stock, valued at approximately $1,902,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXON. New Wave Wealth Advisors LLC bought a new position in Axon Enterprise during the fourth quarter worth about $40,000. Y.D. More Investments Ltd acquired a new position in shares of Axon Enterprise in the 4th quarter worth approximately $45,000. Stonebridge Financial Group LLC bought a new position in shares of Axon Enterprise during the 4th quarter worth approximately $53,000. GPS Wealth Strategies Group LLC boosted its stake in Axon Enterprise by 74.1% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 94 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 40 shares in the last quarter. Finally, Berbice Capital Management LLC bought a new stake in Axon Enterprise in the fourth quarter valued at $59,000. 79.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AXON shares. Northcoast Research cut Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Barclays lifted their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 9th. The Goldman Sachs Group upped 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. JMP Securities reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Finally, Needham & Company LLC increased their price target on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and a consensus target price of $652.73.

Axon Enterprise Trading Down 0.0%

AXON stock opened at $728.39 on Friday. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. Axon Enterprise, Inc. has a twelve month low of $273.52 and a twelve month high of $732.22. The company has a market cap of $56.71 billion, a P/E ratio of 188.21, a PEG ratio of 5.17 and a beta of 1.24. The business has a fifty day moving average of $580.48 and a 200-day moving average of $591.44.

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

Insiders Place Their Bets

In other Axon Enterprise news, Director Julie A. Cullivan sold 657 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $700.00, for a total value of $459,900.00. Following the transaction, the director now owns 1,735 shares of the company’s stock, valued at approximately $1,214,500. This represents a 27.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew R. Mcbrady sold 400 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $718.40, for a total value of $287,360.00. Following the transaction, the director now owns 3,492 shares of the company’s stock, valued at $2,508,652.80. The trade was a 10.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,764 shares of company stock valued at $14,856,635. Company insiders own 4.40% of the company’s stock.

Axon Enterprise Company Profile

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.