Jupiter Topco LLC Purchases New Stake in Axon Enterprise, Inc $AXON

Jupiter Topco LLC acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,501 shares of the biotechnology company’s stock, valued at approximately $4,764,000.

A number of other large investors have also recently bought and sold shares of AXON. Brighton Jones LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter worth approximately $480,000. NewEdge Advisors LLC raised its position in Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after purchasing an additional 668 shares in the last quarter. Empowered Funds LLC raised its position in Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after purchasing an additional 157 shares in the last quarter. Woodline Partners LP lifted its stake in Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after purchasing an additional 2,003 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in Axon Enterprise during the second quarter worth $284,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AXON has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target 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 upped their price objective on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Morgan Stanley raised their price objective on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and an average target price of $730.92.

Insider Buying and Selling at Axon Enterprise

In related news, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction that occurred on 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 sale, the president directly owned 169,125 shares in the company, valued at $82,609,106.25. This trade represents a 7.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick W. Smith sold 9,930 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $548.77, for a total transaction of $5,449,286.10. Following the sale, the chief executive officer directly owned 3,031,067 shares in the company, valued at $1,663,358,637.59. The trade was a 0.33% 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. Insiders sold 75,401 shares of company stock worth $40,670,843 over the last quarter. Insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $566.56 on Tuesday. The firm’s fifty day moving average price is $563.88 and its two-hundred day moving average price is $484.18. The stock has a market cap of $46.03 billion, a PE ratio of 235.09, a PEG ratio of 9.75 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $792.16.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $876.42 million. During the same period in the prior year, the company earned $2.12 EPS. Axon Enterprise’s revenue was up 35.3% compared to the same quarter last year. On average, equities analysts expect that Axon Enterprise, Inc will post 2.04 EPS for the current fiscal year.

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.