Axon Enterprise, Inc $AXON Stock: Purus Wealth Management LLC Grows Holdings

Purus Wealth Management LLC increased its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 499.7% in the 3rd quarter, Holdings Channel reports. The firm owned 11,274 shares of the biotechnology company’s stock after purchasing an additional 9,394 shares during the period. Axon Enterprise accounts for 1.3% of Purus Wealth Management LLC’s investment portfolio, making the stock its 17th largest holding. Purus Wealth Management LLC’s holdings in Axon Enterprise were worth $4,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keating Financial Advisory Services Inc. acquired a new stake in Axon Enterprise in the 2nd quarter worth about $31,000. Washington Trust Advisors Inc. increased its position in shares of Axon Enterprise by 1,300.0% during the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 65 shares in the last quarter. Wealth Enhancement Trust Services Inc. purchased a new stake in shares of Axon Enterprise during the third quarter worth approximately $33,000. Delos Wealth Advisors LLC acquired a new position in Axon Enterprise in the 2nd quarter valued at $45,000. Finally, Owl Creek Wealth Partners LLC raised its stake in Axon Enterprise by 84.8% in 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 last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AXON. Zacks Research upgraded Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Argus upped their target price on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a research report on Thursday, June 25th. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, 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. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average price target of $718.47.

Insiders Place Their Bets

In other Axon Enterprise news, insider Isaiah Fields sold 1,017 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the sale, the insider owned 56,264 shares of the company’s stock, valued at $27,032,038.80. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the sale, the president directly owned 296,974 shares of the company’s stock, valued at approximately $170,590,774.82. This trade represents a 5.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 47,397 shares of company stock valued at $26,722,984. Insiders own 4.20% of the company’s stock.

Axon Enterprise Trading Down 1.0%

Shares of AXON stock traded down $4.25 on Thursday, hitting $404.17. 345,274 shares of the stock traded hands, compared to its average volume of 1,047,018. The firm’s 50-day moving average price is $507.31 and its two-hundred day moving average price is $475.11. 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 $32.83 billion, a PE ratio of 167.97, a PEG ratio of 7.78 and a beta of 1.44. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $764.02.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. The firm had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.12 earnings per share. As a group, analysts anticipate that Axon Enterprise, Inc will post 2.12 EPS for the current year.

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.