Edgestream Partners L.P. Makes New $1.04 Million Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

Edgestream Partners L.P. purchased a new position in Axon Enterprise, Inc. (NASDAQ:AXON) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 3,333 shares of the biotechnology company’s stock, valued at approximately $1,043,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Axon Enterprise by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock valued at $2,547,878,000 after buying an additional 212,401 shares during the last quarter. Sands Capital Management LLC grew its holdings in shares of Axon Enterprise by 0.6% during the fourth quarter. Sands Capital Management LLC now owns 2,628,652 shares of the biotechnology company’s stock valued at $679,060,000 after buying an additional 16,347 shares during the last quarter. Norges Bank purchased a new stake in shares of Axon Enterprise during the fourth quarter valued at $195,406,000. Westfield Capital Management Co. LP grew its holdings in shares of Axon Enterprise by 5.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 731,721 shares of the biotechnology company’s stock valued at $189,025,000 after buying an additional 35,528 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Axon Enterprise by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 580,757 shares of the biotechnology company’s stock valued at $150,027,000 after buying an additional 15,840 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on AXON. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Axon Enterprise in a report on Tuesday, May 7th. Morgan Stanley upped their price target on shares of Axon Enterprise from $285.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. William Blair reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Wednesday, April 24th. JPMorgan Chase & Co. upped their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Barclays upped their price target on shares of Axon Enterprise from $308.00 to $381.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and an average price target of $342.54.

Axon Enterprise Price Performance

Shares of AXON traded up $4.01 during mid-day trading on Tuesday, hitting $320.77. 135,673 shares of the company were exchanged, compared to its average volume of 486,122. Axon Enterprise, Inc. has a 1-year low of $175.37 and a 1-year high of $329.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.55 and a current ratio of 2.91. The company has a 50 day moving average of $292.80 and a 200-day moving average of $290.50. The stock has a market cap of $24.21 billion, a price-to-earnings ratio of 92.62, a price-to-earnings-growth ratio of 6.95 and a beta of 0.95.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Friday, May 10th. The biotechnology company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.20. Axon Enterprise had a net margin of 15.60% and a return on equity of 11.71%. The firm had revenue of $460.74 million during the quarter, compared to the consensus estimate of $441.57 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s revenue for the quarter was up 34.3% on a year-over-year basis. Analysts expect that Axon Enterprise, Inc. will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Julie A. Cullivan sold 993 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $281.72, for a total transaction of $279,747.96. Following the completion of the transaction, the director now owns 4,553 shares in the company, valued at approximately $1,282,671.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Axon Enterprise news, Director Jeri Williams sold 308 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $310.07, for a total value of $95,501.56. Following the completion of the sale, the director now owns 1,607 shares in the company, valued at approximately $498,282.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Julie A. Cullivan sold 993 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $281.72, for a total transaction of $279,747.96. Following the completion of the sale, the director now owns 4,553 shares of the company’s stock, valued at approximately $1,282,671.16. The disclosure for this sale can be found here. Insiders sold a total of 89,447 shares of company stock worth $27,684,677 in the last 90 days. Insiders own 6.10% 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.