6,878 Shares in Axon Enterprise, Inc $AXON Purchased by Norris Perne & French LLP MI

Key Points

• Norris Perne & French LLP MI bought 6,878 Axon Enterprise shares during the third quarter, valued at approximately $2.9 million. Institutional investors and hedge funds collectively own 79.08% of the company.
• Axon reported quarterly revenue of $904.4 million, up 35.3% year over year, and EPS of $1.88, exceeding analysts’ $1.84 estimate.
• Analysts maintain a generally positive outlook, with 15 of 17 covering firms rating the stock Buy or Strong Buy and an average price target of $689.94, despite recent insider selling under pre-arranged trading plans.

Norris Perne & French LLP MI purchased a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 6,878 shares of the biotechnology company's stock, valued at approximately $2,906,000.

Other large investors also recently modified their holdings of the company. Keating Financial Advisory Services Inc. bought a new stake in shares of Axon Enterprise in the second quarter valued at approximately $31,000. Wealth Enhancement Trust Services Inc. acquired a new stake in shares of Axon Enterprise in the third quarter worth $33,000. Washington Trust Advisors Inc. grew its stake in shares of Axon Enterprise by 1,300.0% in the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock worth $39,000 after acquiring an additional 65 shares during the last quarter. Delos Wealth Advisors LLC bought a new position in Axon Enterprise during the second quarter worth $45,000. Finally, Owl Creek Wealth Partners LLC increased its position in Axon Enterprise by 84.8% during the second quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock worth $48,000 after acquiring an additional 39 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $420.37 on Friday. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $764.02. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The business's 50 day moving average is $480.64 and its 200-day moving average is $473.90. The firm has a market capitalization of $34.15 billion, a PE ratio of 174.43, a PEG ratio of 7.99 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the previous year, the firm posted $2.12 EPS. The business's revenue for the quarter was up 35.3% on a year-over-year basis. Sell-side analysts predict that Axon Enterprise, Inc will post 2.10 earnings per share for the current year.

Insider Buying and Selling at Axon Enterprise

In other news, CEO Patrick Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the sale, the chief executive officer directly owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. The trade was a 0.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the company's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the completion of the sale, the president directly owned 296,974 shares in the company, valued at approximately $170,590,774.82. The trade was a 5.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 47,397 shares of company stock valued at $26,722,984 in the last 90 days. Insiders own 4.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AXON shares. Zacks Research upgraded shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. TD Cowen restated a "buy" rating on shares of Axon Enterprise in a research report on Tuesday, October 13th. Argus boosted their price objective on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Morgan Stanley upped their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group cut their price objective on shares of Axon Enterprise from $715.00 to $675.00 and set a "buy" rating for the company in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $689.94.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company's portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.

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