461,226 Axon Enterprise, Inc $AXON Shares Acquired by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust sharply increased its Axon stake, purchasing 461,226 additional shares in the third quarter to own 461,601 shares valued at approximately $195 million, or 0.57% of the company.
• Axon has strong institutional backing, with institutional investors owning 79.08% of outstanding shares. Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $721.57.
• Axon’s latest quarterly results exceeded expectations, as revenue rose 35.3% year over year to $904.39 million and EPS came in at $1.88 versus the $1.84 consensus estimate; however, insiders have sold $33.2 million of stock over the past 90 days.

MassMutual Private Wealth & Trust FSB boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 122,993.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 461,601 shares of the biotechnology company's stock after buying an additional 461,226 shares during the period. Axon Enterprise makes up approximately 5.0% of MassMutual Private Wealth & Trust FSB's holdings, making the stock its 3rd biggest holding. MassMutual Private Wealth & Trust FSB owned 0.57% of Axon Enterprise worth $195,036,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. GoalVest Advisory LLC acquired a new stake in shares of Axon Enterprise during the third quarter worth $256,000. QRG Capital Management Inc. lifted its holdings in shares of Axon Enterprise by 70,966.0% in the second quarter. QRG Capital Management Inc. now owns 838,579 shares of the biotechnology company's stock valued at $470,116,000 after purchasing an additional 837,399 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Axon Enterprise by 16,200.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 175,067 shares of the biotechnology company's stock valued at $98,144,000 after purchasing an additional 173,993 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Axon Enterprise by 18,050.2% during the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company's stock worth $7,400,094,000 after buying an additional 13,127,348 shares during the period. Finally, Andra AP fonden boosted its position in shares of Axon Enterprise by 2,618.4% during the second quarter. Andra AP fonden now owns 548,469 shares of the biotechnology company's stock worth $307,477,000 after buying an additional 528,293 shares during the period. Institutional investors own 79.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. TD Cowen restated a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Needham & Company LLC reiterated a "buy" rating on shares of Axon Enterprise in a report on Wednesday, September 2nd. Citizens Jmp reissued a "market outperform" rating and issued a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. Zacks Research cut shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. Finally, Piper Sandler raised their target price on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $721.57.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 16,775 shares of the company'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 transaction, the president directly owned 296,974 shares of the company's stock, valued at $170,590,774.82. This represents a 5.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the transaction, the chief executive officer owned 3,118,012 shares in the company, valued at $1,587,036,927.88. The trade was a 0.32% decrease in their position. 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 have sold a total of 57,397 shares of company stock worth $33,160,884 in the last ninety days. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $413.35 on Monday. The business has a fifty day simple moving average of $530.06 and a two-hundred day simple moving average of $479.16. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $764.02. The company has a market capitalization of $33.58 billion, a price-to-earnings ratio of 171.52, a P/E/G ratio of 7.78 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

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

About Axon Enterprise

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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