Axon Enterprise, Inc $AXON Shares Bought by Castle Rock Wealth Management LLC

Key Points

• Castle Rock Wealth Management increased its Axon position by 949% in the third quarter, adding 6,292 shares to hold 6,955 shares worth approximately $2.94 million. Institutional investors collectively own 79.08% of Axon’s stock.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and earnings of $1.88 per share, beating analyst expectations. The stock recently traded at $422.89, while its valuation remained elevated with a P/E ratio of 175.47.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $721.57. However, insiders sold 47,397 shares worth $26.7 million over the past three months.

Castle Rock Wealth Management LLC increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 949.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,955 shares of the biotechnology company's stock after buying an additional 6,292 shares during the period. Castle Rock Wealth Management LLC's holdings in Axon Enterprise were worth $2,939,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AXON. Keating Financial Advisory Services Inc. acquired a new stake in Axon Enterprise during the 2nd quarter worth about $31,000. Washington Trust Advisors Inc. boosted its position in shares of Axon Enterprise by 1,300.0% during the 2nd 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 3rd quarter valued at about $33,000. Delos Wealth Advisors LLC bought a new stake in Axon Enterprise in the second quarter worth approximately $45,000. Finally, Owl Creek Wealth Partners LLC lifted its stake in Axon Enterprise by 84.8% in the second 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 period. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Buying and Selling at Axon Enterprise

In other news, insider Jeffrey Kunins sold 9,605 shares of the business's stock in a transaction dated 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 completion of the sale, the insider directly owned 97,761 shares of the company's stock, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 company's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the sale, the insider owned 56,264 shares in the company, valued at $27,032,038.80. This represents a 1.78% decrease in their position. 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 have sold 47,397 shares of company stock valued at $26,722,984 over the last three months. Corporate insiders own 4.20% of the company's stock.

Axon Enterprise Stock Up 1.3%

Shares of AXON traded up $5.58 during trading hours on Friday, reaching $422.89. The stock had a trading volume of 743,866 shares, compared to its average volume of 1,054,714. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $764.02. The firm has a 50-day simple moving average of $520.54 and a 200 day simple moving average of $476.63. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $34.35 billion, a price-to-earnings ratio of 175.47, a P/E/G ratio of 7.64 and a beta of 1.44.

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citizens Jmp reaffirmed a "market outperform" rating and set a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. Needham & Company LLC reiterated a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Piper Sandler raised their price target on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Royal Bank Of Canada restated an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Finally, Zacks Research upgraded shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $721.57.

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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