Moore Capital Management LP Purchases 2,364 Shares of Axon Enterprise, Inc $AXON

Moore Capital Management LP raised its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 274.2% during the second quarter, Holdings Channel reports. The fund owned 3,226 shares of the biotechnology company’s stock after buying an additional 2,364 shares during the period. Moore Capital Management LP’s holdings in Axon Enterprise were worth $1,809,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Edgewood Management LLC bought a new stake in shares of Axon Enterprise in the fourth quarter worth approximately $846,516,000. Wellington Management Group LLP lifted its position in Axon Enterprise by 326.9% during the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock valued at $874,463,000 after purchasing an additional 1,179,038 shares during the period. Norges Bank purchased a new stake in Axon Enterprise in the fourth quarter worth approximately $515,764,000. Bank of America Corp DE bought a new stake in Axon Enterprise in the 2nd quarter worth approximately $286,684,000. Finally, Legal & General Group Plc purchased a new stake in Axon Enterprise during the 2nd quarter valued at $244,669,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

NASDAQ AXON opened at $566.56 on Tuesday. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $792.16. The stock has a market cap of $46.03 billion, a price-to-earnings ratio of 235.09, a PEG ratio of 9.75 and a beta of 1.39. The company’s 50 day moving average is $563.88 and its two-hundred day moving average is $484.18. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company’s revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 earnings per share. As a group, research analysts anticipate that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Insider Buying and Selling

In other Axon Enterprise news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the completion of the sale, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This represents a 2.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the sale, the president directly owned 169,125 shares in the company, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 75,401 shares of company stock worth $40,670,843 in the last three months. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley lifted their price objective on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Barclays increased their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $715.00 target price on shares of Axon Enterprise in a report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $730.92.

Axon Enterprise Company 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.