Hood River Capital Management LLC Increases Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Hood River Capital Management LLC grew its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 5.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 224,850 shares of the biotechnology company's stock after buying an additional 11,126 shares during the quarter. Axon Enterprise makes up 1.4% of Hood River Capital Management LLC's holdings, making the stock its 20th biggest holding. Hood River Capital Management LLC owned approximately 0.30% of Axon Enterprise worth $66,160,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. ICA Group Wealth Management LLC bought a new position in Axon Enterprise in the 4th quarter worth approximately $26,000. Blue Trust Inc. boosted its stake in Axon Enterprise by 987.5% during the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company's stock worth $27,000 after acquiring an additional 79 shares in the last quarter. Trivant Custom Portfolio Group LLC purchased a new position in Axon Enterprise in the first quarter worth about $31,000. First PREMIER Bank purchased a new position in shares of Axon Enterprise during the first quarter valued at approximately $33,000. Finally, Rise Advisors LLC increased its holdings in Axon Enterprise by 49.0% during the first quarter. Rise Advisors LLC now owns 143 shares of the biotechnology company's stock valued at $45,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON stock traded up $0.65 during trading on Monday, reaching $393.94. 473,063 shares of the company's stock were exchanged, compared to its average volume of 522,341. The company has a quick ratio of 2.52, a current ratio of 2.88 and a debt-to-equity ratio of 0.35. The firm's fifty day moving average price is $348.04 and its 200-day moving average price is $317.24. Axon Enterprise, Inc. has a twelve month low of $189.12 and a twelve month high of $397.32. The stock has a market capitalization of $29.73 billion, a PE ratio of 115.19, a PEG ratio of 10.34 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.02 by $0.18. The firm had revenue of $504.00 million during the quarter, compared to the consensus estimate of $478.35 million. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The business's quarterly revenue was up 34.5% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Axon Enterprise, Inc. will post 1.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AXON. Robert W. Baird upped their price target on shares of Axon Enterprise from $360.00 to $400.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Jefferies Financial Group began coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They set a "buy" rating and a $385.00 target price on the stock. JMP Securities boosted their price target on shares of Axon Enterprise from $375.00 to $430.00 and gave the company an "outperform" rating in a research report on Thursday, September 12th. Bank of America initiated coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They set a "buy" rating and a $380.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 price target on shares of Axon Enterprise in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $365.38.

Insider Activity

In other news, CEO Patrick W. Smith sold 80,300 shares of the company's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the transaction, the chief executive officer now owns 3,015,366 shares of the company's stock, valued at approximately $1,121,052,771.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Matthew R. Mcbrady sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $364.66, for a total transaction of $729,320.00. Following the completion of the transaction, the director now owns 4,892 shares of the company's stock, valued at approximately $1,783,916.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick W. Smith sold 80,300 shares of Axon Enterprise stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the completion of the sale, the chief executive officer now directly owns 3,015,366 shares of the company's stock, valued at approximately $1,121,052,771.48. The disclosure for this sale can be found here. Insiders sold a total of 317,981 shares of company stock worth $115,662,734 over the last quarter. 6.10% of the stock is currently owned by corporate insiders.

Axon Enterprise Company Profile

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.