6,658 Axon Enterprise, Inc $AXON Shares Acquired by Pension & Wealth Management Advisors Inc.

Key Points

• Pension & Wealth Management Advisors increased its Axon Enterprise position by 836.4%, acquiring 6,658 additional shares and bringing its total holding to 7,454 shares valued at approximately $3.15 million.
• Institutional investors own 79.08% of Axon’s outstanding shares. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $718.47.
• Axon shares fell 6.4% to $390.29, despite quarterly revenue rising 35.3% year over year to $904.39 million and earnings of $1.88 per share, slightly above expectations.

Pension & Wealth Management Advisors Inc. increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 836.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,454 shares of the biotechnology company's stock after acquiring an additional 6,658 shares during the quarter. Axon Enterprise makes up approximately 0.7% of Pension & Wealth Management Advisors Inc.'s holdings, making the stock its 23rd biggest holding. Pension & Wealth Management Advisors Inc.'s holdings in Axon Enterprise were worth $3,149,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXON. State Street Corp lifted its stake in shares of Axon Enterprise by 5,700.2% during the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company's stock worth $119,724,905,000 after purchasing an additional 209,879,882 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Axon Enterprise by 18,050.2% in the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company's stock valued at $7,400,094,000 after purchasing an additional 13,127,348 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Axon Enterprise by 5,022.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company's stock valued at $1,802,719,000 after purchasing an additional 4,183,302 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Axon Enterprise by 8,432.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company's stock valued at $1,983,414,000 after purchasing an additional 3,496,493 shares during the period. Finally, Nykredit A S acquired a new position in Axon Enterprise in the second quarter valued at $698,937,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXON has been the topic of several recent analyst reports. Needham & Company LLC reiterated a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. UBS Group lifted their price target on Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Citigroup reaffirmed a "market outperform" rating on shares of Axon Enterprise in a research note on Thursday, September 17th. Finally, Piper Sandler upped 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. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $718.47.

Insider Buying and Selling

In related news, CEO Patrick Smith sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the transaction, the chief executive officer directly owned 3,118,012 shares of the company's stock, valued at approximately $1,587,036,927.88. The trade was a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares of the company's stock, valued at approximately $61,266,818.70. This represents a 8.95% 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. In the last 90 days, insiders have sold 47,397 shares of company stock valued at $26,722,984. Corporate insiders own 4.20% of the company's stock.

Axon Enterprise Trading Down 6.4%

NASDAQ AXON traded down $26.90 during mid-day trading on Friday, hitting $390.29. The company's stock had a trading volume of 1,420,893 shares, compared to its average volume of 983,036. The firm has a market capitalization of $31.71 billion, a P/E ratio of 161.95, a price-to-earnings-growth ratio of 7.85 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, Inc has a 52-week low of $339.01 and a 52-week high of $764.02. The stock's fifty day simple moving average is $501.59 and its two-hundred day simple moving average is $474.43.

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. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million during the quarter, compared to analysts' expectations of $876.42 million. During the same period in the prior year, the company earned $2.12 EPS. The firm's revenue was up 35.3% on a year-over-year basis. Research analysts expect 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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