Barbara Oil Co. Takes $2.05 Million Position in Axon Enterprise, Inc $AXON

Key Points

• Barbara Oil Co. acquired a new $2.05 million position in Axon Enterprise during the second quarter, purchasing 3,390 shares. Institutional investors collectively own 79.08% of AXON.
• Analysts remain broadly bullish, with 13 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $730.92.
• Axon exceeded quarterly expectations, reporting adjusted earnings of $1.88 per share and revenue of $904.39 million, up 35.3% year over year. However, insiders sold approximately $35.2 million of stock during the latest quarter, while the shares traded at a high valuation.

Barbara Oil Co. bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,390 shares of the biotechnology company's stock, valued at approximately $2,046,000.

A number of other hedge funds also recently modified their holdings of the stock. Darwin Wealth Management LLC acquired a new stake in shares of Axon Enterprise during the 2nd quarter worth approximately $37,000. Creative Financial Designs Inc. ADV bought a new position in Axon Enterprise in the fourth quarter valued at approximately $28,000. Camelot Portfolios LLC acquired a new position in Axon Enterprise during the fourth quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. acquired a new position in Axon Enterprise during the second quarter valued at approximately $31,000. Finally, AlphaCentric Advisors LLC bought a new stake in Axon Enterprise during the fourth quarter worth $34,000. Institutional investors own 79.08% of the company's stock.

Analysts Set New Price Targets

AXON has been the topic of several recent analyst reports. Citizens Jmp reiterated a "market outperform" rating and issued a $700.00 price target on shares of Axon Enterprise in a research note on Thursday, June 25th. The Goldman Sachs Group restated a "buy" rating and set a $715.00 price objective on shares of Axon Enterprise in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. UBS Group lifted their target price on Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Finally, Barclays boosted their target price on Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $730.92.

Axon Enterprise Price Performance

Shares of AXON opened at $627.75 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The stock has a market capitalization of $51.00 billion, a price-to-earnings ratio of 260.48, a PEG ratio of 10.19 and a beta of 1.39. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $794.29. The stock has a fifty day moving average of $543.11 and a 200-day moving average of $476.99.

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

Insider Activity at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of the 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. This trade represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of Axon Enterprise stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $478.97, for a total transaction of $270,139.08. Following the completion of the transaction, the director owned 3,632 shares of the company's stock, valued at $1,739,619.04. The trade was a 13.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,989 shares of company stock valued at $35,216,932 over the last quarter. 4.20% of the stock is currently owned by company insiders.

About Axon Enterprise

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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