Axon Enterprise, Inc $AXON is Scalar Gauge Management LLC’s 5th Largest Position

Scalar Gauge Management LLC grew its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 82.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,500 shares of the biotechnology company’s stock after acquiring an additional 7,000 shares during the period. Axon Enterprise comprises about 5.7% of Scalar Gauge Management LLC’s holdings, making the stock its 5th largest position. Scalar Gauge Management LLC’s holdings in Axon Enterprise were worth $11,123,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AXON. Stone House Investment Management LLC acquired a new stake in Axon Enterprise during the 3rd quarter worth approximately $29,000. Hemington Wealth Management increased its position in shares of Axon Enterprise by 70.8% in the second quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 17 shares in the last quarter. Whipplewood Advisors LLC increased its position in shares of Axon Enterprise by 192.9% in the second quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 27 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Axon Enterprise in the 3rd quarter valued at $34,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Axon Enterprise during the 2nd quarter valued at $37,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $605.07 on Tuesday. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57. Axon Enterprise, Inc has a fifty-two week low of $469.24 and a fifty-two week high of $885.91. The business has a 50 day moving average price of $577.40 and a two-hundred day moving average price of $674.32. The firm has a market cap of $47.75 billion, a PE ratio of 191.48, a price-to-earnings-growth ratio of 19.30 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.46). Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The company had revenue of $710.64 million for the quarter, compared to the consensus estimate of $704.83 million. During the same period in the previous year, the business posted $1.45 EPS. The business’s revenue for the quarter was up 30.6% on a year-over-year basis. Sell-side analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on AXON. UBS Group cut their price objective on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Northcoast Research upgraded Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 target price on the stock in a report on Tuesday, January 6th. Piper Sandler decreased their price target on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Barclays dropped their price objective on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research report on Monday, December 29th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and an average target price of $805.71.

Insider Transactions at Axon Enterprise

In related news, insider Jeffrey C. Kunins sold 1,797 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $539.23, for a total value of $968,996.31. Following the sale, the insider owned 83,485 shares of the company’s stock, valued at approximately $45,017,616.55. This trade represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer H. Mak sold 1,134 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $600.00, for a total value of $680,400.00. Following the transaction, the chief accounting officer owned 13,740 shares of the company’s stock, valued at $8,244,000. This represents a 7.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,540 shares of company stock valued at $34,684,738 over the last ninety days. Insiders own 5.70% of the company’s stock.

Axon Enterprise 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.