Axon Enterprise, Inc (NASDAQ:AXON) Director Hadi Partovi Acquires 1,358 Shares

Key Points

• Axon Enterprise, Inc. Director Hadi Partovi acquired 1,358 shares of the company at an average price of $740.00 per share, totaling nearly $1 million in the transaction.
• The company reported a quarterly earnings per share (EPS) of $2.12, exceeding analysts' estimates of $1.54, with a revenue of $668.54 million.
• Analysts have a consensus rating of "Moderate Buy" for Axon Enterprise, with an average price target of $837.69.

Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) Director Hadi Partovi bought 1,358 shares of the stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $740.00 per share, for a total transaction of $1,004,920.00. Following the purchase, the director directly owned 237,938 shares of the company's stock, valued at approximately $176,074,120. This represents a 0.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Axon Enterprise Stock Performance

Axon Enterprise stock traded up $4.41 during midday trading on Friday, reaching $754.24. The stock had a trading volume of 583,176 shares, compared to its average volume of 711,710. Axon Enterprise, Inc has a 12 month low of $346.71 and a 12 month high of $885.91. The firm's 50-day moving average price is $774.61 and its 200 day moving average price is $669.28. The firm has a market capitalization of $59.21 billion, a PE ratio of 186.23, a P/E/G ratio of 28.10 and a beta of 1.36. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. The business had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The firm's quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. As a group, research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors have recently added to or reduced their stakes in AXON. Captrust Financial Advisors increased its position in shares of Axon Enterprise by 6.0% in the second quarter. Captrust Financial Advisors now owns 13,121 shares of the biotechnology company's stock valued at $10,864,000 after buying an additional 740 shares in the last quarter. Keel Point LLC increased its position in shares of Axon Enterprise by 5.1% in the second quarter. Keel Point LLC now owns 614 shares of the biotechnology company's stock valued at $508,000 after buying an additional 30 shares in the last quarter. Voleon Capital Management LP acquired a new stake in shares of Axon Enterprise in the second quarter worth approximately $464,000. Tidal Investments LLC increased its position in shares of Axon Enterprise by 13.7% during the second quarter. Tidal Investments LLC now owns 51,499 shares of the biotechnology company's stock worth $42,638,000 after purchasing an additional 6,217 shares in the last quarter. Finally, Orion Porfolio Solutions LLC increased its position in shares of Axon Enterprise by 23.3% during the second quarter. Orion Porfolio Solutions LLC now owns 4,544 shares of the biotechnology company's stock worth $3,762,000 after purchasing an additional 858 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Northland Securities set a $800.00 target price on Axon Enterprise in a research report on Tuesday, August 5th. Barclays boosted their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. UBS Group reaffirmed a "neutral" rating and set a $840.00 price objective (up from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Raymond James Financial restated an "outperform" rating and issued a $855.00 target price (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Finally, JMP Securities boosted their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $837.69.

About Axon Enterprise

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.

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