Kingdon Capital Management L.L.C. Buys New Stake in Axon Enterprise, Inc $AXON

Kingdon Capital Management L.L.C. bought a new position in Axon Enterprise, Inc (NASDAQ:AXON) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the biotechnology company’s stock, valued at approximately $7,176,000.

A number of other hedge funds also recently bought and sold shares of AXON. Hilltop Holdings Inc. boosted its stake in Axon Enterprise by 11.2% during the 3rd quarter. Hilltop Holdings Inc. now owns 525 shares of the biotechnology company’s stock valued at $377,000 after purchasing an additional 53 shares during the period. Hudson Way Capital Management LLC boosted its position in shares of Axon Enterprise by 44.3% in the third quarter. Hudson Way Capital Management LLC now owns 47,790 shares of the biotechnology company’s stock valued at $34,296,000 after acquiring an additional 14,682 shares during the period. Hyperion Asset Management Ltd grew its stake in shares of Axon Enterprise by 32.6% in the third quarter. Hyperion Asset Management Ltd now owns 122,616 shares of the biotechnology company’s stock worth $87,994,000 after acquiring an additional 30,137 shares during the last quarter. EFG Asset Management Americas Corp. increased its position in Axon Enterprise by 9.7% during the third quarter. EFG Asset Management Americas Corp. now owns 3,809 shares of the biotechnology company’s stock worth $2,733,000 after acquiring an additional 336 shares during the period. Finally, Elevation Point Wealth Partners LLC increased its position in Axon Enterprise by 1,414.7% during the third quarter. Elevation Point Wealth Partners LLC now owns 1,030 shares of the biotechnology company’s stock worth $739,000 after acquiring an additional 962 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of research reports. Northcoast Research raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target for the company in a report on Tuesday, January 6th. Robert W. Baird set a $800.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. Barclays reduced their target price on shares of Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Craig Hallum restated a “buy” rating and set a $820.00 price target on shares of Axon Enterprise in a research note on Wednesday, February 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Wednesday, February 25th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $762.93.

Insider Buying and Selling

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the completion of the transaction, the chief executive officer directly owned 3,090,997 shares of the company’s stock, valued at approximately $1,546,240,339.28. This trade represents a 0.32% 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 link. Also, insider Isaiah Fields sold 2,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the completion of the sale, the insider owned 55,588 shares in the company, valued at $29,740,135.88. This represents a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,634 shares of company stock worth $13,803,095 in the last 90 days. 5.70% of the stock is owned by company insiders.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $496.18 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53. The company has a 50-day moving average of $531.08 and a 200-day moving average of $608.20. Axon Enterprise, Inc has a 52 week low of $396.41 and a 52 week high of $885.91. The company has a market capitalization of $39.89 billion, a price-to-earnings ratio of 326.44, a PEG ratio of 10.59 and a beta of 1.46.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.55. The business had revenue of $796.72 million for the quarter, compared to analysts’ expectations of $755.29 million. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. As a group, equities research analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

About Axon Enterprise

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.