Sycale Advisors NY LLC Takes Position in Axon Enterprise, Inc $AXON

Sycale Advisors NY LLC purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 19,399 shares of the biotechnology company’s stock, valued at approximately $10,875,000. Axon Enterprise accounts for approximately 3.3% of Sycale Advisors NY LLC’s holdings, making the stock its 10th largest holding.

A number of other large investors have also added to or reduced their stakes in AXON. Edgewood Management LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter worth $846,516,000. Wellington Management Group LLP raised its stake in Axon Enterprise by 326.9% in 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 in the last quarter. Norges Bank acquired a new position in Axon Enterprise in the fourth quarter valued at about $515,764,000. BlackRock Inc. lifted its position in Axon Enterprise by 4.3% during the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock worth $4,672,432,000 after purchasing an additional 345,365 shares during the period. Finally, Styrax Capital LP bought a new stake in Axon Enterprise during the first quarter worth about $84,938,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Wall Street Analyst Weigh In

AXON has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Citizens Jmp restated a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. raised their price objective on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $730.92.

Insiders Place Their Bets

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the sale, the insider directly owned 34,024 shares in the company, valued at $16,501,640. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Cameron Brooks sold 1,242 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the sale, the executive directly owned 49,710 shares in the company, valued at $24,855,000. The trade was a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 66,989 shares of company stock worth $35,216,932 over the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Axon Enterprise Price Performance

Shares of AXON opened at $614.26 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The stock has a market cap of $49.90 billion, a PE ratio of 254.88, a PEG ratio of 10.48 and a beta of 1.39. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $794.29. The business has a 50-day simple moving average of $539.39 and a two-hundred day simple moving average of $475.81.

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

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.