Axon Enterprise, Inc (NASDAQ:AXON) Shares Acquired 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. grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 88.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,868 shares of the biotechnology company's stock after purchasing an additional 2,288 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Axon Enterprise were worth $2,560,000 at the end of the most recent reporting period.

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

Axon Enterprise Stock Performance

AXON stock traded up $125.94 on Tuesday, hitting $870.82. The company's stock had a trading volume of 554,654 shares, compared to its average volume of 695,185. The firm has a 50 day moving average of $764.81 and a two-hundred day moving average of $658.28. Axon Enterprise, Inc has a 1 year low of $286.19 and a 1 year high of $881.88. The stock has a market cap of $67.79 billion, a price-to-earnings ratio of 210.34, a price-to-earnings-growth ratio of 82.76 and a beta of 1.36. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating the consensus estimate 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 14.86% and a return on equity of 5.81%. Axon Enterprise's revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. Equities analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AXON. Needham & Company LLC lifted their price target on shares of Axon Enterprise from $820.00 to $870.00 and gave the stock a "buy" rating in a research note on Tuesday. Barclays boosted their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Bank of America boosted their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price objective on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Axon Enterprise currently has an average rating of "Moderate Buy" and an average target price of $806.67.

Insider Buying and Selling

In other Axon Enterprise news, CRO Cameron Brooks sold 3,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $740.76, for a total value of $2,222,280.00. Following the transaction, the executive directly owned 19,447 shares of the company's stock, valued at approximately $14,405,559.72. The trade was a 13.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Garnreiter sold 5,913 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the completion of the transaction, the director directly owned 17,740 shares in the company, valued at $13,482,400. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,642 shares of company stock worth $25,090,528 in the last ninety days. Insiders own 5.70% of the company's stock.

Axon Enterprise Company Profile

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.