ZEGA Investments LLC Acquires Shares of Axon Enterprise, Inc.

ZEGA Investments LLC has made a significant move in the stock market by acquiring a new stake in Axon Enterprise, Inc. (NASDAQ:AXON) during the fourth quarter. According to a recent filing with the Securities and Exchange Commission (SEC), the institutional investor purchased 629 shares of the biotechnology company. This investment is estimated to be worth approximately $384,000.

In addition to ZEGA Investments, several other hedge funds have adjusted their stakes in Axon Enterprise recently. For instance, Asset Dedication LLC increased its holding by 11.3% in the fourth quarter, now owning 178 shares valued at $106,000 after acquiring an additional 18 shares. Similarly, Bleakley Financial Group LLC raised its investment by 1.3%, bringing its total to 1,527 shares worth $908,000 following an additional purchase of 20 shares. Venturi Wealth Management LLC also upped its stake by 2.7%, resulting in ownership of 802 shares valued at approximately $477,000 after buying an extra 21 shares.

Meanwhile, Insigneo Advisory Services LLC increased its stake in Axon Enterprise by 1.4% in the third quarter, now holding 1,568 shares worth $627,000 after acquiring 22 additional shares. Menard Financial Group LLC also boosted its holdings by 0.8%, bringing its total shares to 3,014 valued at $1,204,000 after buying 24 more shares. Altogether, institutional investors and hedge funds now own 79.08% of Axon Enterprise's stock.

Axon Enterprise Share Performance

As of Friday, shares of Axon Enterprise were trading at $560.00, reflecting a 0.3% increase. The company maintains a debt-to-equity ratio of 0.32, alongside a quick ratio of 2.63 and a current ratio of 2.96. Axon Enterprise shows a significant market presence with a market cap of $42.91 billion. Its price-to-earnings ratio stands at 144.70, with a PEG ratio of 5.17 and a beta of 1.12. The company's share price has fluctuated notably, with a 52-week low of $273.52 and a high of $715.99. Its fifty-day moving average rests at $591.90, while the 200-day average is $540.96.

Insider Trading at Axon Enterprise

In recent insider activity, Director Jeri Williams sold 307 shares of Axon Enterprise on March 17, 2023, for an average price of $552.72, totaling around $169,685.04. Post-sale, Williams holds 1,627 shares valued at $899,275.44, representing a 15.87% decrease in ownership. Additionally, insider Jeffrey C. Kunins sold 1,035 shares on December 23, 2022, at an average rate of $624.47, amounting to a total of $646,326.45. After this transaction, Kunins now owns 124,243 shares valued at over $77 million. Over the last ninety days, insiders sold a total of 1,792 shares worth about $1,087,843, with corporate insiders owning 5.70% of Axon Enterprise stock.

Analyst Ratings and Recommendations

Market analysts have recently evaluated Axon Enterprise, with Northcoast Research downgrading the stock from a “buy” to a “neutral” rating. In contrast, Goldman Sachs raised its price target from $500.00 to $700.00, giving the stock a “buy” rating. Needham & Company LLC reaffirmed its “buy” rating with a target price of $600.00. Meanwhile, Morgan Stanley upgraded its rating from “equal weight” to “overweight” and increased its target from $500.00 to $700.00. TD Cowen also initiated coverage with a “buy” recommendation and a price target of $700.00. Currently, the consensus rating on Axon Enterprise is a “Moderate Buy,” with an average target price of $604.67.

About Axon Enterprise

Axon Enterprise, Inc. specializes in developing, manufacturing, and selling conducted energy devices (CEDs) known under the TASER brand in the United States and internationally. The company operates in two primary segments: Software and Sensors, and TASER. Additionally, Axon provides hardware and cloud-based software solutions to help law enforcement agencies capture, store, manage, and analyze video and digital evidence.

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