Axon Enterprise, Inc $AXON Shares Purchased by Compass Ion Advisors LLC

Key Points

• Compass Ion Advisors LLC increased its Axon Enterprise stake by 1,184.3% in the third quarter, purchasing 11,772 additional shares for a total holding of 12,766 shares valued at $5.394 million. Institutional investors collectively own 79.08% of the company.
• Wall Street maintains a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $689.94; 14 analysts rate the stock Buy and one rates it Strong Buy.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and EPS of $1.88, slightly above analyst expectations. However, insiders sold 47,397 shares worth approximately $26.7 million over the past three months.

Compass Ion Advisors LLC increased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 1,184.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,766 shares of the biotechnology company's stock after purchasing an additional 11,772 shares during the quarter. Compass Ion Advisors LLC's holdings in Axon Enterprise were worth $5,394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Keel Point LLC lifted its holdings in Axon Enterprise by 4.4% during the 1st quarter. Keel Point LLC now owns 599 shares of the biotechnology company's stock worth $254,000 after purchasing an additional 25 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in Axon Enterprise by 4.4% during the 2nd quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company's stock valued at $352,000 after buying an additional 26 shares in the last quarter. Roman Butler Fullerton & Co. grew its holdings in Axon Enterprise by 2.4% during the 1st quarter. Roman Butler Fullerton & Co. now owns 1,278 shares of the biotechnology company's stock valued at $500,000 after buying an additional 30 shares in the last quarter. 44 Wealth Management LLC grew its holdings in Axon Enterprise by 6.0% during the 1st quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company's stock valued at $225,000 after buying an additional 30 shares in the last quarter. Finally, Owl Creek Wealth Partners LLC grew its holdings in 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 buying an additional 39 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of analyst reports. Weiss Ratings restated a "hold (c-)" rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. TD Cowen reaffirmed a "buy" rating on shares of Axon Enterprise in a report on Tuesday, October 13th. Northcoast Research increased their target price on shares of Axon Enterprise from $650.00 to $680.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, Argus raised their price target on shares of Axon Enterprise from $460.00 to $600.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $689.94.

Insiders Place Their Bets

In related news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 8th. The shares were 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 trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Axon Enterprise stock in a transaction that occurred on 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 sale, the president owned 296,974 shares of the company's stock, valued at approximately $170,590,774.82. The trade was a 5.35% 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. Insiders sold a total of 47,397 shares of company stock worth $26,722,984 over the last three months. Company insiders own 4.20% of the company's stock.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $420.37 on Monday. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $764.02. The business has a 50-day simple moving average of $480.64 and a 200 day simple moving average of $474.33. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The stock has a market cap of $34.15 billion, a price-to-earnings ratio of 174.43, a PEG ratio of 7.99 and a beta of 1.44.

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

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.

Want to see what other hedge funds are holding AXON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axon Enterprise, Inc (NASDAQ:AXON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.