19,698 Axon Enterprise, Inc $AXON Shares Acquired by Hudock Inc.

Key Points

• Hudock Inc. increased its Axon Enterprise stake by 2,640.5% in the third quarter, acquiring 19,698 additional shares and bringing its holdings to 20,444 shares valued at $8.64 million. Institutional investors collectively own 79.08% of Axon.
• Axon’s latest quarterly results exceeded expectations, with adjusted earnings of $1.88 per share versus the $1.84 consensus and revenue of $904.39 million, up 35.3% year over year.
• Insiders sold 47,397 shares worth approximately $26.7 million over the past 90 days, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $721.57.

Hudock Inc. lifted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 2,640.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,444 shares of the biotechnology company's stock after buying an additional 19,698 shares during the quarter. Axon Enterprise makes up about 1.1% of Hudock Inc.'s investment portfolio, making the stock its 20th largest holding. Hudock Inc.'s holdings in Axon Enterprise were worth $8,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Keating Financial Advisory Services Inc. acquired a new stake in Axon Enterprise in the second quarter valued at $31,000. Washington Trust Advisors Inc. boosted its stake in 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 last quarter. Wealth Enhancement Trust Services Inc. bought a new position in Axon Enterprise during the 3rd quarter valued at $33,000. Delos Wealth Advisors LLC acquired a new position in Axon Enterprise during the 2nd quarter worth $45,000. Finally, Owl Creek Wealth Partners LLC grew its holdings in Axon Enterprise by 84.8% during the 2nd quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock worth $48,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Insider Buying and Selling

In related news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total value of $5,089,900.00. Following the sale, the chief executive officer owned 3,118,012 shares of the company's stock, valued at $1,587,036,927.88. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise 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 completion of the sale, the insider owned 97,761 shares in the company, valued at approximately $61,266,818.70. This represents a 8.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 47,397 shares of company stock valued at $26,722,984 in the last 90 days. Corporate insiders own 4.20% of the company's stock.

Axon Enterprise Stock Down 1.2%

NASDAQ:AXON opened at $408.42 on Thursday. The firm has a market capitalization of $33.18 billion, a PE ratio of 169.47, a price-to-earnings-growth ratio of 7.78 and a beta of 1.44. The stock has a 50 day moving average of $507.31 and a 200-day moving average of $475.11. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $764.02. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million for 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 quarterly revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 EPS. Analysts predict that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. TD Cowen reissued a "buy" rating on shares of Axon Enterprise in a research report on Tuesday. UBS Group upped their target price on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Piper Sandler increased their price target on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $715.00 price target on shares of Axon Enterprise in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and a consensus price target of $721.57.

Axon Enterprise 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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