Axon Enterprise, Inc (NASDAQ:AXON) Shares Purchased by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group increased its stake in Axon Enterprise by 88.7%, now owning 4,868 shares valued at $2,560,000 as of the most recent SEC filing.
• Axon reported earnings of $1.41 EPS, exceeding estimates, with revenue of $603.63 million for the quarter, representing a 31.3% increase year-over-year.
• Analysts have increased price targets for Axon, with JMP Securities setting a new target of $825.00 and a consensus rating of "Moderate Buy" among research analysts.

Jefferies Financial Group Inc. lifted its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 88.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,868 shares of the biotechnology company's stock after acquiring an additional 2,288 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Axon Enterprise were worth $2,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter worth $30,000. TCTC Holdings LLC boosted its holdings in Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after buying an additional 24 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after buying an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Axon Enterprise during the first quarter worth $32,000. Finally, Alpine Bank Wealth Management purchased a new stake in Axon Enterprise during the first quarter worth $40,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AXON. Raymond James Financial reissued an "outperform" rating and set a $855.00 price target (up from $645.00) on shares of Axon Enterprise in a report on Tuesday. Needham & Company LLC set a $870.00 price objective on shares of Axon Enterprise and gave the company a "buy" rating in a report on Tuesday. Bank of America raised their price target on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday. Northland Securities set a $800.00 price target on shares of Axon Enterprise in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $837.69.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock traded up $5.04 on Thursday, hitting $868.69. The company's stock had a trading volume of 102,484 shares, compared to its average volume of 706,000. Axon Enterprise, Inc has a 52-week low of $344.00 and a 52-week high of $885.91. The firm has a fifty day moving average price of $769.48 and a 200-day moving average price of $661.14. The company has a quick ratio of 2.62, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $67.63 billion, a P/E ratio of 214.49, a price-to-earnings-growth ratio of 96.66 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results 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 firm had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The company's revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. On average, equities research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insider Activity

In other Axon Enterprise news, CRO Cameron Brooks sold 3,000 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the transaction, the executive directly owned 19,447 shares of the company's stock, valued at $14,405,559.72. This trade represents a 13.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Garnreiter sold 5,913 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total value of $4,493,880.00. Following the transaction, the director owned 17,740 shares in the company, valued at $13,482,400. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,642 shares of company stock worth $25,090,528. Insiders own 4.40% of the company's stock.

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.