Perennial Investment Advisors LLC Invests $569,000 in Axon Enterprise, Inc $AXON

Perennial Investment Advisors LLC purchased a new position in Axon Enterprise, Inc (NASDAQ:AXON) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,015 shares of the biotechnology company’s stock, valued at approximately $569,000.

A number of other large investors have also added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV bought a new stake in Axon Enterprise during the 4th quarter valued at about $28,000. Camelot Portfolios LLC purchased a new position in Axon Enterprise in the 4th quarter worth about $30,000. Keating Financial Advisory Services Inc. bought a new position in Axon Enterprise during the 2nd quarter valued at about $31,000. AlphaCentric Advisors LLC purchased a new stake in shares of Axon Enterprise during the 4th quarter valued at about $34,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Axon Enterprise during the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

AXON stock opened at $607.48 on Thursday. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $794.29. The business’s fifty day simple moving average is $553.45 and its two-hundred day simple moving average is $480.77. The firm has a market cap of $49.35 billion, a price-to-earnings ratio of 252.07, a PEG ratio of 9.95 and a beta of 1.39. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company’s revenue was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 earnings per share. Analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Insider Buying and Selling

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the transaction, the insider directly owned 97,761 shares in the company, valued at $61,266,818.70. This represents a 8.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was 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 directly owned 169,125 shares of the company’s stock, valued at $82,609,106.25. This trade represents a 7.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 76,594 shares of company stock valued at $41,236,386 over the last quarter. 4.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AXON shares. Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a research note on Thursday, August 6th. UBS Group lifted their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Citizens Jmp restated a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a research report on Thursday, June 25th. Finally, Barclays upped their price objective on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average target price of $730.92.

Axon Enterprise Company Profile

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.