Krilogy Financial LLC Acquires 17,660 Shares of Axon Enterprise, Inc $AXON

Key Points

• Krilogy Financial increased its Axon Enterprise stake by 1,337.9% in the third quarter, acquiring 17,660 additional shares for a total holding of 18,980 shares valued at approximately $8.02 million. Institutional investors collectively own 79.08% of the company.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and EPS of $1.88, exceeding analyst expectations. Despite this growth, the stock traded at a high P/E ratio of 171.52 and opened at $413.35, well below its 52-week high of $764.02.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $721.57, while insiders have sold 47,397 shares worth approximately $26.7 million over the past 90 days, including sales by CEO Patrick Smith under a pre-arranged trading plan.

Krilogy Financial LLC grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 1,337.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,980 shares of the biotechnology company's stock after acquiring an additional 17,660 shares during the quarter. Krilogy Financial LLC's holdings in Axon Enterprise were worth $8,019,000 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. Keating Financial Advisory Services Inc. bought a new stake in shares of Axon Enterprise during the 2nd quarter valued at about $31,000. Washington Trust Advisors Inc. grew its stake in shares of Axon Enterprise by 1,300.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock valued at $39,000 after acquiring an additional 65 shares during the period. Wealth Enhancement Trust Services Inc. purchased a new position in Axon Enterprise during the third quarter valued at approximately $33,000. Delos Wealth Advisors LLC bought a new position in shares of Axon Enterprise in the second quarter worth approximately $45,000. Finally, Owl Creek Wealth Partners LLC raised its position in shares of Axon Enterprise by 84.8% during the 2nd quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 39 shares during the period. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Down 0.3%

Axon Enterprise stock opened at $413.35 on Wednesday. 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 market cap of $33.58 billion, a PE ratio of 171.52, a PEG ratio of 7.80 and a beta of 1.44. 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 business's 50-day simple moving average is $511.34 and its two-hundred day simple moving average is $475.41.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to analysts' expectations of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The business's revenue was up 35.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 earnings per share. Equities analysts anticipate that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Analyst Upgrades and Downgrades

AXON has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Weiss Ratings reissued a "hold (c-)" rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Citigroup restated a "market outperform" rating on shares of Axon Enterprise in a report on Thursday, September 17th. Piper Sandler lifted their target price on Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, UBS Group raised their price objective on Axon Enterprise from $440.00 to $600.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $721.57.

Insider Activity at Axon Enterprise

In other news, CEO Patrick Smith sold 10,000 shares of Axon Enterprise stock in a transaction 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 of the company's stock, valued at approximately $1,587,036,927.88. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the business's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the sale, the insider owned 56,264 shares in the company, valued at $27,032,038.80. This trade represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 47,397 shares of company stock worth $26,722,984. Company insiders own 4.20% of the company's stock.

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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