Axon Enterprise, Inc $AXON Shares Acquired by Juncture Wealth Strategies LLC

Key Points

• Juncture Wealth Strategies increased its Axon stake by 197.9% in the third quarter, ending with 10,174 shares worth approximately $4.3 million. Institutional investors collectively own 79.08% of Axon’s outstanding stock.
• Axon insiders sold 47,397 shares worth $26.7 million over the past three months, including sales by the CEO and president under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $721.57. The stock recently traded at $418.62, despite quarterly revenue rising 35.3% year over year and earnings exceeding estimates.

Juncture Wealth Strategies LLC boosted its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 197.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,174 shares of the biotechnology company's stock after purchasing an additional 6,759 shares during the quarter. Axon Enterprise comprises 1.1% of Juncture Wealth Strategies LLC's holdings, making the stock its 18th largest holding. Juncture Wealth Strategies LLC's holdings in Axon Enterprise were worth $4,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its stake in shares of Axon Enterprise by 5,700.2% in the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company's stock valued at $119,724,905,000 after acquiring an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Axon Enterprise by 18,050.2% during the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company's stock worth $7,400,094,000 after acquiring an additional 13,127,348 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Axon Enterprise by 8,432.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company's stock worth $1,983,414,000 after acquiring an additional 3,496,493 shares in the last quarter. Nykredit A S acquired a new stake in Axon Enterprise in the second quarter worth $698,937,000. Finally, QRG Capital Management Inc. grew its holdings in Axon Enterprise by 70,966.0% in the second quarter. QRG Capital Management Inc. now owns 838,579 shares of the biotechnology company's stock worth $470,116,000 after purchasing an additional 837,399 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Insider Activity

In related news, 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 transaction of $9,636,063.25. Following the transaction, the president directly owned 296,974 shares of the company's stock, valued at $170,590,774.82. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Smith sold 10,000 shares of the business's stock in a transaction dated 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 owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. 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 three months, insiders have sold 47,397 shares of company stock worth $26,722,984. Company insiders own 4.20% of the company's stock.

Wall Street Analysts Forecast Growth

AXON has been the topic of several research reports. Barclays upped their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Piper Sandler raised their target price on Axon Enterprise from $724.00 to $732.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. UBS Group boosted their target price on Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, Needham & Company LLC restated a "buy" rating on shares of Axon Enterprise in a report on Wednesday, September 2nd. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $721.57.

Axon Enterprise Stock Up 1.7%

Axon Enterprise stock traded up $6.81 during trading on Tuesday, hitting $418.62. 1,477,202 shares of the company were exchanged, compared to its average volume of 1,054,419. The company has a market capitalization of $34.01 billion, a P/E ratio of 173.70, a PEG ratio of 7.78 and a beta of 1.44. The business's 50 day moving average is $527.78 and its 200 day moving average is $478.49. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $764.02. 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 (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million for 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%.The business's revenue was up 35.3% on a year-over-year basis. During the same period last year, the business earned $2.12 EPS. Analysts predict that Axon Enterprise, Inc will post 2.12 earnings per share for the current 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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