432,383 Axon Enterprise, Inc $AXON Shares Acquired by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services LLC increased its Axon Enterprise stake by 61,418% in the third quarter, acquiring 432,383 shares for a total holding of 433,087 shares worth approximately $183 million. Institutional investors and hedge funds collectively own 79.08% of AXON.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $707.07. However, Piper Sandler reduced its target from $732 to $561 while keeping an “overweight” rating.
• Axon’s latest reported quarter showed revenue growth of 35.3% year over year to $904.4 million, with earnings of $1.88 per share beating estimates. The stock opened at $392.64, well below its 52-week high of $764.02, and trades at a high trailing P/E ratio of 162.92.

Diversify Advisory Services LLC lifted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 61,418.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 433,087 shares of the biotechnology company's stock after acquiring an additional 432,383 shares during the period. Axon Enterprise makes up approximately 2.6% of Diversify Advisory Services LLC's investment portfolio, making the stock its 5th largest holding. Diversify Advisory Services LLC owned 0.53% of Axon Enterprise worth $182,988,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Canal Insurance CO increased its stake in Axon Enterprise by 100.0% during the 3rd quarter. Canal Insurance CO now owns 20,000 shares of the biotechnology company's stock valued at $8,450,000 after purchasing an additional 10,000 shares in the last quarter. Peoples Financial Services CORP. raised its holdings in shares of Axon Enterprise by 354,360.0% in the third quarter. Peoples Financial Services CORP. now owns 35,446 shares of the biotechnology company's stock worth $14,977,000 after buying an additional 35,436 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Axon Enterprise by 6,204.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 619,707 shares of the biotechnology company's stock worth $261,839,000 after buying an additional 609,878 shares during the period. CWA Asset Management Group LLC lifted its stake in shares of Axon Enterprise by 2,093.9% during the third quarter. CWA Asset Management Group LLC now owns 22,597 shares of the biotechnology company's stock worth $9,548,000 after buying an additional 21,567 shares during the period. Finally, Teamwork Financial Advisors LLC lifted its stake in shares of Axon Enterprise by 1,338.1% during the third quarter. Teamwork Financial Advisors LLC now owns 8,269 shares of the biotechnology company's stock worth $3,494,000 after buying an additional 7,694 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise News Summary

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Axon is expected to report third-quarter results soon, with analysts anticipating a substantial year-over-year increase in earnings per share. The earnings preview may be supporting optimism about continued revenue and profit growth. Earnings Preview: What to Expect From Axon Enterprise’s Report
• Positive Sentiment: Bloomington approved an expanded agreement with Axon for policing technology, while the Reno City Council is set to vote on a proposed $22 million deal. Additional municipal contracts could reinforce Axon’s recurring-revenue model and strengthen demand for its connected hardware and cloud software. Bloomington council OKs expanded agreement with Axon for policing technology City of Reno council to vote on $22M Axon tech deal
• Positive Sentiment: Commentary from The Motley Fool describes Axon as a potential buy after a roughly 54% decline, arguing that recent pressure appears largely short-term and that the company retains a dominant position in public safety. Down 54%, This Tech Stock Looks Like a Buy With or Without AI
• Neutral Sentiment: Piper Sandler maintained an “overweight” rating but reduced its AXON price target from $732 to $561. The target cut signals more cautious near-term expectations, although it still implies significant potential upside based on the cited trading level.
• Neutral Sentiment: A comparison with Arista Networks emphasizes Axon’s integrated hardware-and-cloud platform and strong public-safety market position, but it is an opinion piece rather than a new company-specific catalyst. Arista Networks vs. Axon Enterprise
• Neutral Sentiment: Reports concerning an “Axon Graphite” spin-out by Lithium Energy and a reverse stock split by Axonex AI Group are unrelated to Axon Enterprise, Inc. (AXON) and should not affect its shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AXON shares. Citizens Jmp reissued a "market outperform" rating and issued a $700.00 target price on shares of Axon Enterprise in a research report on Thursday, June 25th. Zacks Research upgraded Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Piper Sandler lowered their price target on Axon Enterprise from $732.00 to $561.00 and set an "overweight" rating for the company in a research report on Tuesday. UBS Group lifted their price target on Axon Enterprise from $440.00 to $600.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Finally, Raymond James Financial set a $675.00 price target on Axon Enterprise in a research note on Thursday, October 15th. One research 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. Based on data from MarketBeat.com, Axon Enterprise has a consensus rating of "Moderate Buy" and a consensus target price of $707.07.

Insider Activity

In related news, insider Isaiah Fields sold 1,017 shares of the business's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the completion of the transaction, the insider directly owned 56,264 shares in the company, valued at $27,032,038.80. The trade was a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider directly owned 97,761 shares in the company, valued at $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 47,397 shares of company stock worth $26,722,984 over the last 90 days. Company insiders own 4.20% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $392.64 on Wednesday. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $764.02. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The stock has a market cap of $31.90 billion, a PE ratio of 162.92, a price-to-earnings-growth ratio of 7.21 and a beta of 1.44. The business has a 50-day simple moving average of $492.46 and a 200-day simple moving average of $474.34.

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, beating the consensus estimate 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 last year, the business earned $2.12 earnings per share. Axon Enterprise's quarterly revenue was up 35.3% on a year-over-year basis. On average, equities analysts expect that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company's portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.

Want to see what other hedge funds are holding AXON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axon Enterprise, Inc (NASDAQ:AXON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.