Skye Global Management LP Invests $1.90 Million in Axon Enterprise, Inc. (NASDAQ:AXON)

Skye Global Management LP acquired a new stake in Axon Enterprise, Inc. (NASDAQ:AXON) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,200 shares of the biotechnology company’s stock, valued at approximately $1,902,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Axon Enterprise by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company’s stock valued at $5,019,886,000 after acquiring an additional 275,959 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Axon Enterprise by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company’s stock valued at $1,095,542,000 after purchasing an additional 65,097 shares in the last quarter. Capital World Investors grew its position in shares of Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company’s stock valued at $1,079,145,000 after purchasing an additional 841,772 shares during the period. Alliancebernstein L.P. increased its stake in Axon Enterprise by 273.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock worth $659,128,000 after purchasing an additional 812,337 shares in the last quarter. Finally, Norges Bank acquired a new stake in Axon Enterprise during the 4th quarter worth approximately $482,081,000. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Down 0.0%

Shares of NASDAQ:AXON opened at $728.39 on Friday. The company’s 50-day moving average price is $580.48 and its two-hundred day moving average price is $591.44. Axon Enterprise, Inc. has a one year low of $273.52 and a one year high of $732.22. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The stock has a market capitalization of $56.71 billion, a PE ratio of 188.21, a price-to-earnings-growth ratio of 5.17 and a beta of 1.24.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The business had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. Axon Enterprise’s revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.15 earnings per share. On average, equities analysts forecast that Axon Enterprise, Inc. will post 5.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. JMP Securities reaffirmed an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. Craig Hallum lowered shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. Needham & Company LLC increased their target price on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group boosted their price target on Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average target price of $652.73.

Insider Transactions at Axon Enterprise

In other news, Director Jeri Williams sold 307 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total value of $169,685.04. Following the sale, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $899,275.44. This represents a 15.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the completion of the sale, the chief executive officer now owns 3,063,982 shares of the company’s stock, valued at $1,657,583,622.18. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,764 shares of company stock worth $14,856,635 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

About Axon Enterprise

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.