Axon Enterprise, Inc $AXON Holdings Increased by Wedmont Private Capital

Key Points

• Wedmont Private Capital increased its Axon stake by 5,927.3% in the third quarter, holding 43,517 shares valued at approximately $18.4 million. Institutional investors collectively own 79.08% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $721.57; Goldman Sachs set a $715 target, while UBS maintained a neutral rating despite raising its target to $600.
• Axon insiders sold 47,397 shares worth approximately $26.7 million over the past 90 days. The stock recently traded at $415.68, while quarterly revenue rose 35.3% year over year to $904.39 million and earnings beat estimates.

Wedmont Private Capital lifted its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 5,927.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,517 shares of the biotechnology company's stock after acquiring an additional 42,795 shares during the period. Wedmont Private Capital owned 0.05% of Axon Enterprise worth $18,387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pure Financial Advisors LLC increased its stake in Axon Enterprise by 6.7% during the fourth quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company's stock worth $207,000 after acquiring an additional 23 shares during the last quarter. Keel Point LLC lifted its stake in shares of Axon Enterprise by 4.4% in the 1st quarter. Keel Point LLC now owns 599 shares of the biotechnology company's stock valued at $254,000 after purchasing an additional 25 shares during the last quarter. Bridgewater Advisors Inc. lifted its stake in shares of Axon Enterprise by 4.4% in the 2nd quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company's stock valued at $352,000 after purchasing an additional 26 shares during the last quarter. Roman Butler Fullerton & Co. boosted its holdings in shares of Axon Enterprise by 2.4% in the 1st quarter. Roman Butler Fullerton & Co. now owns 1,278 shares of the biotechnology company's stock worth $500,000 after purchasing an additional 30 shares during the period. Finally, 44 Wealth Management LLC boosted its holdings in shares of Axon Enterprise by 6.0% in the 1st quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company's stock worth $225,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings restated a "hold (c-)" rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Zacks Research raised shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research note on Monday. UBS Group boosted their price objective on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Needham & Company LLC reissued a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $715.00 target price on shares of Axon Enterprise in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $721.57.

Insider Activity at Axon Enterprise

In other news, insider Jeffrey Kunins sold 9,605 shares of the business's stock in a transaction on 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 directly owned 97,761 shares of the company's stock, valued at approximately $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the company's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the transaction, the insider owned 56,264 shares in the company, valued at approximately $27,032,038.80. The trade was a 1.78% decrease in their ownership of the stock. 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 sold a total of 47,397 shares of company stock valued at $26,722,984 over the last ninety days. Company insiders own 4.20% of the company's stock.

Axon Enterprise Trading Down 0.4%

Shares of AXON traded down $1.63 during mid-day trading on Friday, reaching $415.68. 304,312 shares of the company's stock traded hands, compared to its average volume of 1,052,397. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The stock's 50-day moving average is $520.54 and its two-hundred day moving average is $476.63. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $764.02. The stock has a market cap of $33.77 billion, a P/E ratio of 172.73, a P/E/G ratio of 7.64 and a beta of 1.44.

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

Axon Enterprise Company 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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