Hudson Way Capital Management LLC Grows Stock Holdings in Axon Enterprise, Inc $AXON

Hudson Way Capital Management LLC grew its position in Axon Enterprise, Inc (NASDAQ:AXON) by 44.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,790 shares of the biotechnology company’s stock after buying an additional 14,682 shares during the quarter. Axon Enterprise accounts for 2.9% of Hudson Way Capital Management LLC’s holdings, making the stock its 15th largest holding. Hudson Way Capital Management LLC owned approximately 0.06% of Axon Enterprise worth $34,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AXON. NEOS Investment Management LLC boosted its stake in shares of Axon Enterprise by 82.7% in the third quarter. NEOS Investment Management LLC now owns 25,369 shares of the biotechnology company’s stock valued at $18,206,000 after purchasing an additional 11,482 shares during the period. Vanguard Group Inc. increased its stake in Axon Enterprise by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock worth $6,684,217,000 after buying an additional 376,904 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Axon Enterprise by 3.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,423 shares of the biotechnology company’s stock worth $132,349,000 after buying an additional 5,953 shares during the period. BIT Capital GmbH lifted its holdings in Axon Enterprise by 75.6% during the 3rd quarter. BIT Capital GmbH now owns 3,535 shares of the biotechnology company’s stock worth $2,537,000 after buying an additional 1,522 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Axon Enterprise by 3.1% during the 3rd quarter. Legal & General Group Plc now owns 421,114 shares of the biotechnology company’s stock worth $302,208,000 after buying an additional 12,736 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Transactions at Axon Enterprise

In other news, insider Isaiah Fields sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the sale, the insider owned 55,588 shares of the company’s stock, valued at approximately $29,740,135.88. This trade represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer H. Mak sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the transaction, the chief accounting officer directly owned 12,240 shares of the company’s stock, valued at $7,019,028. This trade represents a 10.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 24,634 shares of company stock valued at $13,803,095. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

AXON has been the subject of several research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Monday, December 29th. Northcoast Research upgraded Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective on the stock in a research note on Tuesday, January 6th. Citigroup reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, February 25th. Needham & Company LLC lowered their target price on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Craig Hallum restated a “buy” rating and set a $820.00 price target on shares of Axon Enterprise in a report on Wednesday, February 25th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $762.93.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $496.18 on Monday. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $531.08 and a 200-day simple moving average of $608.20. The stock has a market cap of $39.89 billion, a P/E ratio of 326.44, a price-to-earnings-growth ratio of 10.59 and a beta of 1.46. Axon Enterprise, Inc has a 12-month low of $396.41 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.60 by $0.55. The firm had revenue of $796.72 million for the quarter, compared to analyst estimates of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.Axon Enterprise’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 earnings per share. Equities analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Axon Enterprise Profile

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.