8,525 Shares in Axon Enterprise, Inc $AXON Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 8,525 Axon Enterprise shares worth approximately $4.76 million during the second quarter. Institutional investors collectively own 79.08% of AXON’s outstanding stock.
• Analysts remain broadly bullish, with 13 Buy ratings and three Hold ratings, producing a “Moderate Buy” consensus and an average price target of $730.92. Recent target increases came from JPMorgan, Piper Sandler and Barclays, while Zacks downgraded the stock to Hold.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and adjusted earnings of $1.88 per share, exceeding estimates. However, insiders sold 75,401 shares worth about $40.7 million over the past 90 days, while the stock opened at $566.56—down 5.7%.

Corient Private Wealth LP acquired a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,525 shares of the biotechnology company's stock, valued at approximately $4,763,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXON. Perennial Investment Advisors LLC bought a new position in shares of Axon Enterprise during the 2nd quarter valued at approximately $569,000. Ausdal Financial Partners Inc. bought a new stake in shares of Axon Enterprise in the 2nd quarter worth approximately $505,000. Bamco Inc. NY purchased a new position in Axon Enterprise in the second quarter valued at approximately $86,118,000. Bank of America Corp DE purchased a new position in Axon Enterprise in the second quarter valued at approximately $286,684,000. Finally, Odyssean LLC grew its holdings in Axon Enterprise by 78.5% during the second quarter. Odyssean LLC now owns 3,681 shares of the biotechnology company's stock valued at $2,064,000 after purchasing an additional 1,619 shares during the period. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AXON shares. JPMorgan Chase & Co. upped their price target on Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Citizens Jmp reaffirmed a "market outperform" rating and set a $700.00 price objective on shares of Axon Enterprise in a report on Thursday, June 25th. Piper Sandler increased their target price on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Barclays lifted their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, Zacks Research lowered shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and an average target price of $730.92.

Insider Activity at Axon Enterprise

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the transaction, the insider directly owned 34,024 shares of the company's stock, valued at $16,501,640. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Joshua Isner sold 13,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president owned 169,125 shares in the company, valued at $82,609,106.25. The trade was a 7.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 75,401 shares of company stock worth $40,670,843 in the last 90 days. Corporate insiders own 4.20% of the company's stock.

Axon Enterprise Stock Down 5.7%

AXON opened at $566.56 on Tuesday. The company has a fifty day moving average price of $563.88 and a 200-day moving average price of $484.18. The firm has a market capitalization of $46.03 billion, a P/E ratio of 235.09, a price-to-earnings-growth ratio of 9.75 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $792.16.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company's quarterly revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.12 EPS. Equities research analysts expect that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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