Deepwater Asset Management LLC Invests $4.98 Million in Axon Enterprise, Inc $AXON

Deepwater Asset Management LLC acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,774 shares of the biotechnology company’s stock, valued at approximately $4,983,000. Axon Enterprise accounts for about 1.5% of Deepwater Asset Management LLC’s holdings, making the stock its 26th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in AXON. Brighton Jones LLC acquired a new position in shares of Axon Enterprise during the fourth quarter worth approximately $480,000. NewEdge Advisors LLC boosted its position in shares of Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after buying an additional 668 shares during the period. Empowered Funds LLC boosted its position in shares of Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after buying an additional 157 shares during the period. Woodline Partners LP boosted its position in shares of Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after buying an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC acquired a new position in shares of Axon Enterprise during the second quarter worth approximately $284,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AXON has been the subject of several analyst reports. TD Cowen reduced their price objective on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Wall Street Zen upgraded Axon Enterprise from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. JPMorgan Chase & Co. upped their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Robert W. Baird set a $800.00 target price on Axon Enterprise in a research report on Wednesday, February 25th. Finally, UBS Group cut their target price on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average target price of $712.75.

Insider Buying and Selling

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value of $800,000.00. Following the transaction, the insider owned 52,813 shares of the company’s stock, valued at approximately $21,125,200. This represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $478.97, for a total value of $270,139.08. Following the completion of the transaction, the director directly owned 3,632 shares in the company, valued at $1,739,619.04. This represents a 13.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,548 shares of company stock worth $1,542,775 over the last three months. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Performance

AXON opened at $486.12 on Monday. The company has a market capitalization of $39.18 billion, a price-to-earnings ratio of 195.23, a price-to-earnings-growth ratio of 8.84 and a beta of 1.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91. The business has a 50 day moving average price of $408.04 and a two-hundred day moving average price of $491.56.

Axon Enterprise (NASDAQ:AXON) last released its 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. The firm had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.47 earnings per share. Research analysts predict that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

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.