Axon Enterprise, Inc $AXON Shares Acquired by Kingswood Wealth Advisors LLC

Key Points

• Kingswood Wealth Advisors increased its Axon Enterprise stake by 16,593.5% in the third quarter, acquiring 110,015 additional shares and bringing its holdings to 110,678 shares valued at approximately $46.8 million. Institutional investors and hedge funds own 79.08% of the stock.
• Analysts remain broadly bullish, with an average rating of “Moderate Buy” and an average price target of $689.94; recent targets range as high as $680, despite one “hold” rating.
• Axon’s latest quarterly results exceeded expectations, with adjusted EPS of $1.88 versus $1.84 expected and revenue up 35.3% year over year to $904.39 million. However, insiders sold $26.7 million of stock during the quarter, while shares traded at a high valuation with a P/E ratio above 174.

Kingswood Wealth Advisors LLC increased its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 16,593.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,678 shares of the biotechnology company's stock after acquiring an additional 110,015 shares during the quarter. Axon Enterprise makes up about 1.8% of Kingswood Wealth Advisors LLC's portfolio, making the stock its 6th largest position. Kingswood Wealth Advisors LLC owned approximately 0.14% of Axon Enterprise worth $46,764,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Keating Financial Advisory Services Inc. bought a new stake in Axon Enterprise in the second quarter valued at $31,000. Washington Trust Advisors Inc. raised its holdings 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 during the period. Wealth Enhancement Trust Services Inc. acquired a new position in shares of Axon Enterprise during the third quarter valued at about $33,000. Delos Wealth Advisors LLC bought a new position in shares of Axon Enterprise during the 2nd quarter worth about $45,000. Finally, Owl Creek Wealth Partners LLC boosted 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 worth $48,000 after purchasing an additional 39 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AXON. Argus raised their target price on Axon Enterprise from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Raymond James Financial set a $675.00 price target on Axon Enterprise in a research note on Thursday, October 15th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Northcoast Research increased their price target on Axon Enterprise from $650.00 to $680.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Finally, TD Cowen reissued a "buy" rating on shares of Axon Enterprise in a research note on Tuesday, October 13th. One investment 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. Based on data from MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and an average target price of $689.94.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $420.37 on Monday. The stock 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 50-day moving average price of $480.64 and a 200-day moving average price of $474.33. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $764.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same period in the previous year, the firm posted $2.12 earnings per share. The firm's revenue for the quarter was up 35.3% on a year-over-year basis. On average, equities research analysts forecast that Axon Enterprise, Inc will post 2.10 EPS for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the completion of the transaction, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. The trade was a 5.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 that occurred 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 sale, the chief executive officer directly 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 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 worth $26,722,984 in the last quarter. 4.20% of the stock is owned by insiders.

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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