9,394 Axon Enterprise, Inc $AXON Shares Purchased by Purus Wealth Management LLC

Key Points

• Purus Wealth Management increased its Axon Enterprise position by 499.7% in the third quarter, purchasing 9,394 additional shares. The fund held 11,274 shares worth approximately $4.76 million at quarter-end.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and earnings per share of $1.88, exceeding analyst expectations. Despite strong operating results, the stock traded at about $404.17, with a high valuation reflected in its 167.97 price-to-earnings ratio.
• Analysts maintain a broadly positive view, with a consensus “Moderate Buy” rating and an average price target of $718.47. Meanwhile, insiders sold 47,397 shares worth approximately $26.7 million over the past three months, primarily through pre-arranged trading plans.

Purus Wealth Management LLC boosted its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 499.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,274 shares of the biotechnology company's stock after buying an additional 9,394 shares during the period. Axon Enterprise makes up approximately 1.3% of Purus Wealth Management LLC's investment portfolio, making the stock its 17th largest holding. Purus Wealth Management LLC's holdings in Axon Enterprise were worth $4,763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Keating Financial Advisory Services Inc. acquired a new stake in shares of Axon Enterprise in the second quarter worth $31,000. Wealth Enhancement Trust Services Inc. acquired a new position in Axon Enterprise during the third quarter valued at $33,000. Washington Trust Advisors Inc. boosted its holdings in Axon Enterprise by 1,300.0% in the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock valued at $39,000 after purchasing an additional 65 shares during the last quarter. Delos Wealth Advisors LLC purchased a new stake in Axon Enterprise in the second quarter valued at $45,000. Finally, Owl Creek Wealth Partners LLC grew its position in Axon Enterprise by 84.8% during the 2nd quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 39 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON traded down $4.25 during trading on Thursday, reaching $404.17. 345,274 shares of the company's stock traded hands, compared to its average volume of 1,047,018. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $764.02. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The firm has a market cap of $32.83 billion, a PE ratio of 167.97, a P/E/G ratio of 7.78 and a beta of 1.44. The company has a 50-day simple moving average of $507.31 and a 200-day simple moving average of $475.11.

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 for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million during 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%. Axon Enterprise's revenue for the quarter was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 EPS. As a group, analysts predict that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AXON shares. Raymond James Financial set a $675.00 price objective on Axon Enterprise in a report on Thursday. TD Cowen restated a "buy" rating on shares of Axon Enterprise in a research note on Tuesday. Citizens Jmp reaffirmed a "market outperform" rating and set a $700.00 target price on shares of Axon Enterprise in a report on Thursday, June 25th. Barclays lifted their price target on Axon Enterprise from $523.00 to $688.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $718.47.

Insiders Place Their Bets

In other news, CEO Patrick Smith sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the completion of the sale, the chief executive officer directly owned 3,118,012 shares in the company, valued at $1,587,036,927.88. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the company's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $480.45, for a total value of $488,617.65. Following the transaction, the insider directly owned 56,264 shares of the company's stock, valued at approximately $27,032,038.80. The trade was a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 47,397 shares of company stock valued at $26,722,984 in the last three months. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and connected systems for public safety and law enforcement agencies. Its product portfolio includes TASER conducted energy weapons, body-worn cameras, in-car cameras and other recording devices designed to support safer interactions, improve accountability and document incidents.

The company also provides cloud-based software for managing digital evidence, reports, records and agency operations. Its Axon platform connects hardware with services such as evidence management, real-time operations, computer-aided dispatch and other workflow tools, enabling agencies to store, organize and share information across their organizations.

Founded in 1993 as AIR TASER by Rick Smith and Tom Smith, the company later operated as TASER International before adopting the name Axon Enterprise in 2017.

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