Cullinan Associates Inc. Invests $310,000 in Axon Enterprise, Inc. (NASDAQ:AXON)

Cullinan Associates Inc. purchased a new position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 700 shares of the biotechnology company’s stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. boosted its stake in Axon Enterprise by 3.7% in the 3rd quarter. Mather Group LLC. now owns 759 shares of the biotechnology company’s stock valued at $303,000 after buying an additional 27 shares in the last quarter. CWM LLC grew its stake in Axon Enterprise by 1.3% in the third quarter. CWM LLC now owns 2,856 shares of the biotechnology company’s stock valued at $1,141,000 after acquiring an additional 36 shares during the period. SPC Financial Inc. boosted its position in shares of Axon Enterprise by 2.2% during the third quarter. SPC Financial Inc. now owns 1,773 shares of the biotechnology company’s stock worth $708,000 after buying an additional 38 shares during the period. Dorsey Wright & Associates boosted its position in shares of Axon Enterprise by 0.3% during the second quarter. Dorsey Wright & Associates now owns 14,053 shares of the biotechnology company’s stock worth $4,135,000 after buying an additional 39 shares during the period. Finally, Legacy Capital Group California Inc. boosted its position in Axon Enterprise by 5.7% during the third quarter. Legacy Capital Group California Inc. now owns 724 shares of the biotechnology company’s stock valued at $289,000 after purchasing an additional 39 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axon Enterprise

In related news, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total value of $437,980.00. Following the completion of the transaction, the director now directly owns 26,259 shares of the company’s stock, valued at $11,500,916.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total transaction of $437,980.00. Following the sale, the director now directly owns 26,259 shares of the company’s stock, valued at approximately $11,500,916.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal 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 that occurred on Friday, August 23rd. The shares were 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 $1,121,052,771.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 371,172 shares of company stock worth $137,000,162. Company insiders own 6.10% of the company’s stock.

Axon Enterprise Trading Up 0.3 %

Axon Enterprise stock opened at $444.52 on Friday. Axon Enterprise, Inc. has a fifty-two week low of $199.29 and a fifty-two week high of $455.17. The firm’s fifty day moving average price is $396.09 and its 200-day moving average price is $336.34. The stock has a market cap of $33.55 billion, a P/E ratio of 129.98, a PEG ratio of 12.05 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 2.88.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The business had revenue of $504.00 million during the quarter, compared to analyst estimates of $478.35 million. During the same period in the prior year, the business posted $0.80 earnings per share. The company’s revenue was up 34.5% on a year-over-year basis. Equities research analysts forecast that Axon Enterprise, Inc. will post 1.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Jefferies Financial Group started coverage on Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $385.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research note on Wednesday. Northland Securities raised their target price on Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Needham & Company LLC raised their price objective on Axon Enterprise from $400.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Barclays raised their price objective on Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $382.85.

Axon Enterprise 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.