Axon Enterprise, Inc $AXON Position Lifted by Signaturefd LLC

Key Points

• Signaturefd LLC increased its Axon Enterprise position by 7,380.5% in the third quarter, reaching 78,770 shares valued at approximately $33.3 million. Institutional investors collectively own 79.08% of the company.
• 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 plans.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $689.94. The company recently beat quarterly earnings and revenue estimates, while its shares trade at a high forward valuation reflected in a P/E ratio of 174.43.

Signaturefd LLC increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 7,380.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 78,770 shares of the biotechnology company's stock after acquiring an additional 77,717 shares during the period. Axon Enterprise comprises about 0.4% of Signaturefd LLC's portfolio, making the stock its 28th biggest position. Signaturefd LLC owned about 0.10% of Axon Enterprise worth $33,282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Keating Financial Advisory Services Inc. bought a new position in Axon Enterprise in the second quarter valued at about $31,000. Washington Trust Advisors Inc. boosted its stake in shares of Axon Enterprise by 1,300.0% during the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock valued at $39,000 after purchasing an additional 65 shares in the last quarter. Wealth Enhancement Trust Services Inc. bought a new stake in shares of Axon Enterprise during the third quarter worth about $33,000. Delos Wealth Advisors LLC bought a new stake in shares of Axon Enterprise during the second quarter worth about $45,000. Finally, Owl Creek Wealth Partners LLC grew its holdings in shares of Axon Enterprise by 84.8% during the second quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 79.08% of the company's stock.

Insider Transactions at Axon Enterprise

In other news, 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 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 represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock in a transaction on Friday, September 11th. The stock was sold at an average price of $480.45, for a total value 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. This represents 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. In the last three months, insiders have sold 47,397 shares of company stock worth $26,722,984. Insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AXON shares. Argus upped their price objective on Axon Enterprise from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Morgan Stanley lifted their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Weiss Ratings reissued a "hold (c-)" rating on shares of Axon Enterprise in a report on Wednesday, August 5th. The Goldman Sachs Group decreased their price target on shares of Axon Enterprise from $715.00 to $675.00 and set a "buy" rating for the company in a research report on Monday, September 21st. Finally, TD Cowen reaffirmed a "buy" rating on shares of Axon Enterprise in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $689.94.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $420.37 on Friday. The company has a fifty day moving average of $480.64 and a 200-day moving average of $473.90. The firm has a market capitalization of $34.15 billion, a P/E ratio of 174.43, a P/E/G ratio of 7.99 and a beta of 1.44. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $764.02.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results 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 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%. Axon Enterprise's quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 EPS. As a group, sell-side analysts anticipate that Axon Enterprise, Inc will post 2.10 EPS for the current year.

Axon Enterprise Company 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.

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