Axon Enterprise, Inc $AXON Position Raised by Sowell Financial Services LLC

Key Points

• Sowell Financial Services increased its Axon stake by 1,652% in the third quarter, bringing its holdings to 142,492 shares worth approximately $60.2 million. Institutional investors collectively own 79.08% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $688.38, despite some hold ratings.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and EPS of $1.88, beating estimates. However, the stock traded near $423.17 and carries a high P/E ratio of 175.59; insiders sold about $26.7 million in shares over the past three months.

Sowell Financial Services LLC increased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 1,652.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 142,492 shares of the biotechnology company's stock after buying an additional 134,359 shares during the quarter. Axon Enterprise accounts for approximately 1.9% of Sowell Financial Services LLC's portfolio, making the stock its 7th largest holding. Sowell Financial Services LLC owned 0.18% of Axon Enterprise worth $60,206,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Keating Financial Advisory Services Inc. bought a new stake in Axon Enterprise in the second quarter worth about $31,000. Wealth Enhancement Trust Services Inc. purchased a new position in Axon Enterprise in the third quarter valued at about $33,000. Washington Trust Advisors Inc. boosted its stake in Axon Enterprise by 1,300.0% in the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock valued at $39,000 after acquiring an additional 65 shares during the last quarter. Delos Wealth Advisors LLC purchased a new position in Axon Enterprise in the second quarter valued at about $45,000. Finally, Owl Creek Wealth Partners LLC grew its position in shares of Axon Enterprise by 84.8% during the 2nd quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock valued at $48,000 after acquiring an additional 39 shares during the period. Institutional investors own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Northcoast Research lifted their price target on shares of Axon Enterprise from $650.00 to $680.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Raymond James Financial set a $675.00 price objective on Axon Enterprise in a research note on Thursday, October 15th. UBS Group increased their price objective on Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Axon Enterprise in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and an average price target of $688.38.

Axon Enterprise Trading Down 0.6%

Axon Enterprise stock opened at $423.17 on Thursday. The firm's fifty day moving average price is $471.32 and its 200-day moving average price is $483.20. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $762.08. The stock has a market cap of $34.38 billion, a P/E ratio of 175.59, a PEG ratio of 7.99 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly 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 firm had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The company's revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter last year, the company posted $2.12 EPS. Equities research analysts forecast that Axon Enterprise, Inc will post 2.10 earnings per share for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, CEO Patrick 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 of the company's stock, valued at $1,587,036,927.88. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the firm's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $574.43, for a total value of $9,636,063.25. Following the sale, the president owned 296,974 shares in the company, valued at $170,590,774.82. The trade was a 5.35% 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. Insiders sold 47,397 shares of company stock worth $26,722,984 in the last three months. Insiders own 4.20% of the company's stock.

Axon Enterprise 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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