Axon Enterprise, Inc $AXON Holdings Raised by CWA Asset Management Group LLC

Key Points

• CWA Asset Management Group increased its Axon stake by 2,093.9% in the third quarter, adding 21,567 shares to hold 22,597 shares valued at approximately $9.55 million. Institutional investors and hedge funds collectively own 79.08% of the stock.
• Axon insiders sold 47,397 shares worth about $26.7 million over the past three months, including sales by Jeffrey Kunins and Isaiah Fields under pre-arranged Rule 10b5-1 trading plans.
• Axon exceeded quarterly earnings and revenue expectations, with revenue up 35.3% year over year. Analysts maintain a consensus “Moderate Buy” rating and an average price target of $718.47, though the stock carries a high P/E ratio of 158.96.

CWA Asset Management Group LLC grew its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 2,093.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,597 shares of the biotechnology company's stock after acquiring an additional 21,567 shares during the period. CWA Asset Management Group LLC's holdings in Axon Enterprise were worth $9,548,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Keating Financial Advisory Services Inc. bought a new position in Axon Enterprise in the 2nd quarter worth approximately $31,000. Washington Trust Advisors Inc. lifted its holdings 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 worth $39,000 after buying an additional 65 shares in the last quarter. Wealth Enhancement Trust Services Inc. acquired a new position in Axon Enterprise during the 3rd quarter worth $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 boosted its position in Axon Enterprise by 84.8% in the 2nd quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock valued at $48,000 after buying an additional 39 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jeffrey Kunins sold 9,605 shares of Axon Enterprise 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 transaction, the insider directly owned 97,761 shares of the company's stock, valued at $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $488,617.65. Following the completion of the transaction, the insider directly owned 56,264 shares of the company's stock, valued at $27,032,038.80. This trade represents a 1.78% decrease in their position. 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. In the last three months, insiders sold 47,397 shares of company stock valued at $26,722,984. 4.20% of the stock is owned by company insiders.

Axon Enterprise Price Performance

Shares of AXON opened at $383.09 on Tuesday. The stock has a market cap of $31.12 billion, a P/E ratio of 158.96, a price-to-earnings-growth ratio of 7.34 and a beta of 1.44. The stock's 50-day moving average price is $497.33 and its two-hundred day moving average price is $474.55. 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, Inc has a 1 year low of $339.01 and a 1 year high of $764.02.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise's quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 EPS. On average, equities analysts predict that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on AXON. Needham & Company LLC reissued a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. Royal Bank Of Canada restated an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Piper Sandler upped their price target on Axon Enterprise from $724.00 to $732.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Barclays upped their price target on Axon Enterprise from $523.00 to $688.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, Morgan Stanley raised their price target on Axon Enterprise from $600.00 to $640.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus target price of $718.47.

About Axon Enterprise

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.

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