Delta Global Management LP Invests $1.95 Million in Axon Enterprise, Inc $AXON

Delta Global Management LP purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,598 shares of the biotechnology company’s stock, valued at approximately $1,953,000.

Other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its stake in Axon Enterprise by 53.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock valued at $6,542,000 after acquiring an additional 4,002 shares in the last quarter. Legal & General Group Plc grew its position in shares of Axon Enterprise by 1.3% during the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock valued at $242,241,000 after acquiring an additional 5,419 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in Axon Enterprise during the fourth quarter valued at $13,116,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Axon Enterprise by 40.7% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,083 shares of the biotechnology company’s stock worth $6,406,000 after acquiring an additional 4,360 shares during the period. Finally, Clearbridge Investments LLC boosted its position in Axon Enterprise by 21.1% during the fourth quarter. Clearbridge Investments LLC now owns 343,910 shares of the biotechnology company’s stock worth $195,317,000 after purchasing an additional 59,821 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,060,997 shares of the company’s stock, valued at $1,530,498,500. This trade represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 2,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $400.00, for a total transaction of $800,000.00. Following the sale, the insider directly owned 52,813 shares in the company, valued at $21,125,200. The trade was a 3.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,989 shares of company stock worth $30,527,983 over the last 90 days. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Price Performance

AXON opened at $502.34 on Monday. The stock has a fifty day simple moving average of $483.26 and a two-hundred day simple moving average of $478.81. 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 cap of $40.49 billion, a price-to-earnings ratio of 201.74, a price-to-earnings-growth ratio of 10.25 and a beta of 1.38. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.47 EPS. Research analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on AXON. Morgan Stanley set a $600.00 target price on Axon Enterprise in a report on Thursday, May 7th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday. The Goldman Sachs Group set a $535.00 price target on shares of Axon Enterprise in a research note on Thursday, May 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, Needham & Company LLC upped their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a report on Monday, July 6th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and a consensus price target of $725.25.

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.