Freestone Capital Holdings LLC Buys 603 Shares of Axon Enterprise, Inc $AXON

Key Points

• Freestone Capital Holdings LLC increased its stake in Axon Enterprise, Inc by 26.1%, acquiring an additional 603 shares, bringing its total holdings to 2,916 shares valued at approximately $1.53 million.
• Axon Enterprise reported better-than-expected quarterly earnings of $2.12 per share, surpassing analysts’ estimates of $1.54 and achieving a revenue of $668.54 million for the quarter.
• Analyst ratings for Axon Enterprise are predominantly positive, with two analysts rating the stock as a hold and thirteen assigning a buy rating, leading to an average target price of $837.69.

Freestone Capital Holdings LLC boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 26.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,916 shares of the biotechnology company's stock after purchasing an additional 603 shares during the period. Freestone Capital Holdings LLC's holdings in Axon Enterprise were worth $1,534,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXON. TCTC Holdings LLC lifted its position in Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 24 shares during the period. Fourth Dimension Wealth LLC bought a new position in Axon Enterprise during the fourth quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC lifted its position 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 valued at $31,000 after purchasing an additional 33 shares during the period. Catalyst Capital Advisors LLC bought a new position in Axon Enterprise during the first quarter valued at approximately $32,000. Finally, Alpine Bank Wealth Management bought a new position in Axon Enterprise during the first quarter valued at approximately $40,000. Institutional investors own 79.08% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AXON. JMP Securities increased their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 22nd. Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective on the stock in a research report on Tuesday, August 5th. JPMorgan Chase & Co. upped their target price on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Barclays upped their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Wolfe Research began coverage on shares of Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating for the company. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Axon Enterprise has an average rating of "Moderate Buy" and an average target price of $837.69.

Insider Transactions at Axon Enterprise

In other news, Director Hadi Partovi acquired 1,358 shares of Axon Enterprise stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $740.00 per share, with a total value of $1,004,920.00. Following the completion of the purchase, the director directly owned 237,938 shares in the company, valued at approximately $176,074,120. This trade represents a 0.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the completion of the sale, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at approximately $2,538,744,696.78. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,695 shares of company stock valued at $40,964,638. Company insiders own 5.70% of the company's stock.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $754.24 on Monday. The firm has a fifty day moving average price of $773.85 and a 200-day moving average price of $670.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. The stock has a market cap of $59.21 billion, a PE ratio of 186.23, a price-to-earnings-growth ratio of 27.68 and a beta of 1.36. Axon Enterprise, Inc has a 1 year low of $346.71 and a 1 year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations 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 for the quarter was up 32.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 earnings per share. Equities analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

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.

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