Clear Harbor Asset Management LLC Takes Position in Axon Enterprise, Inc $AXON

Clear Harbor Asset Management LLC bought a new position in Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,504 shares of the biotechnology company’s stock, valued at approximately $3,085,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXON. Rockefeller Capital Management L.P. increased its stake in shares of Axon Enterprise by 53.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock worth $6,542,000 after purchasing an additional 4,002 shares in the last quarter. Legal & General Group Plc raised its holdings in Axon Enterprise by 1.3% in the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock worth $242,241,000 after purchasing an additional 5,419 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in Axon Enterprise during the fourth quarter valued at $13,116,000. B. Metzler seel. Sohn & Co. AG purchased a new position in Axon Enterprise during the second quarter valued at $3,854,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Axon Enterprise during the first quarter valued at about $15,067,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays upped their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted 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. Morgan Stanley increased their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Citizens Jmp restated a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a research note on Thursday, June 25th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $730.92.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $627.75 on Friday. 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, Inc has a 12-month low of $339.01 and a 12-month high of $794.29. The stock has a 50-day moving average price of $543.11 and a 200 day moving average price of $476.87. The stock has a market capitalization of $51.00 billion, a P/E ratio of 260.48, a P/E/G ratio of 10.19 and a beta of 1.39.

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

Insider Buying and Selling at Axon Enterprise

In related news, CEO Patrick W. Smith sold 9,930 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $548.77, for a total transaction of $5,449,286.10. Following the completion of the transaction, the chief executive officer owned 3,031,067 shares in the company, valued at approximately $1,663,358,637.59. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares of the company’s stock, valued at $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 66,989 shares of company stock worth $35,216,932. Insiders own 4.20% of the company’s stock.

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.