Scalar Gauge Management Increases Stake in Axon Enterprise

Scalar Gauge Management LLC has increased its ownership in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 44.2% during the fourth quarter, as revealed in its latest filing with the Securities and Exchange Commission (SEC). This institutional investor now holds 27,400 shares of the biotechnology firm after acquiring an additional 8,400 shares in the stated period. Axon Enterprise represents approximately 7.5% of Scalar Gauge Management LLC's overall holdings, positioning it as the firm's third largest investment. The value of these holdings in Axon Enterprise was reported to be $16,284,000 based on the recent SEC filing.

Additionally, a number of other institutional investors have altered their positions with Axon Enterprise recently. AllianceBernstein L.P. notably increased its stake by a staggering 273.8% in the fourth quarter, amassing 1,109,045 shares worth around $659,128,000 after an additional purchase of 812,337 shares. Norges Bank also made a significant move during this quarter by establishing a new position valued at $482,081,000, while GQG Partners LLC invested approximately $478,349,000 in new shares of the company. Meanwhile, Groupama Asset Management entered the fray by acquiring a new stake during the third quarter worth $200,000. Moreover, Vanguard Group Inc. raised its holdings by 3.4% during the fourth quarter and now owns 8,446,437 shares valued at $5,019,886,000 after purchasing an extra 275,959 shares in the period. Overall, it is noted that institutional investors and hedge funds collectively own around 79.08% of Axon Enterprise's stock.

Changes in Insider Ownership

In other developments concerning Axon Enterprise, Director Jeri Williams executed a sale of 307 shares on March 17. The shares were sold at an average price of $552.72, totaling approximately $169,685. Following this transaction, Williams retained 1,627 shares in the company, whose value is now estimated at about $899,275.44. This transaction represents a decline of 15.87% in her stake. A separate trade by Director Caitlin Elizabeth Kalinowski involved selling 450 shares on January 2 at an average price of $604.07, leading to a total of $271,831.50. After this sale, Kalinowski holds 6,929 shares valued at $4,185,601.03, indicating a 6.10% reduction in her ownership. Currently, insiders own about 6.10% of Axon Enterprise's shares.

Analyst Ratings Overview

Recent analyst commentary on AXON shares has been varied. Notably, Craig Hallum downgraded Axon Enterprise’s shares from a "buy" to a "cautious" rating. In contrast, The Goldman Sachs Group raised its price target from $500.00 to $700.00 and affirmed a "buy" rating. Northcoast Research shifted its stance, downgrading from a "buy" to a "neutral" rating. Barclays conveyed a "hold" rating on the stock with no changes noted. Robert W. Baird issued a positive upgrade by raising the price objective from $600.00 to $800.00, accompanied by an "outperform" rating. Out of the analysts, one labeled the stock as a sell, two recommended holding, while eleven suggested buying it. Overall, the consensus rating indicates a "Moderate Buy" with an average target price of $604.67.

Axon Enterprise Stock Insights

On Monday, NASDAQ:AXON opened trading at $534.95. The company maintains a quick ratio of 2.63 and a current ratio of 2.96, with a debt-to-equity ratio standing at 0.32. It shows a 50-day moving average price of $589.62 and a 200-day moving average price of $550.61. The market capitalization of Axon Enterprise is approximately $40.99 billion. The PE ratio is at 138.23 with a price-to-earnings-growth ratio of 5.17; it also has a beta of 1.12. The stock has seen a 12-month low of $273.52 and a high of $715.99.

About Axon Enterprise

Axon Enterprise, Inc. specializes in the development, manufacturing, and sale of conducted energy devices (CEDs) under the TASER brand across the U.S. and internationally. The company segments its operations into Software and Sensors, and TASER. In addition to hardware, Axon offers cloud-based software solutions that empower law enforcement agencies to capture, securely store, manage, share, and analyze various forms of video and digital evidence.

Axon, Investors, Shares