Axon Enterprise, Inc $AXON Stake Lifted by First Heartland Consultants Inc.

Key Points

• First Heartland Consultants increased its Axon Enterprise stake by 2,538% in the third quarter, ending with 24,586 shares valued at approximately $10.4 million. Other institutional investors also significantly raised their positions, and institutions collectively own 79.08% of the company.
• Axon reported quarterly adjusted earnings of $1.88 per share, exceeding estimates of $1.84, while revenue rose 35.3% year over year to $904.4 million. Despite the growth, the stock trades at a high valuation, with a P/E ratio of 173.16.
• Insiders sold 47,397 shares worth approximately $26.7 million during the last quarter under pre-arranged trading plans. Wall Street maintains a “Moderate Buy” consensus rating, with an average price target of $721.57.

First Heartland Consultants Inc. grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 2,538.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,586 shares of the biotechnology company's stock after purchasing an additional 23,654 shares during the quarter. First Heartland Consultants Inc.'s holdings in Axon Enterprise were worth $10,388,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Axon Enterprise by 6,472.9% during the 3rd quarter. GAMMA Investing LLC now owns 110,359 shares of the biotechnology company's stock valued at $46,629,000 after buying an additional 108,680 shares during the period. CoreCap Advisors LLC boosted its holdings in Axon Enterprise by 1,803.5% in the 3rd quarter. CoreCap Advisors LLC now owns 27,049 shares of the biotechnology company's stock worth $11,429,000 after acquiring an additional 25,628 shares during the period. Atwood & Palmer Inc. boosted its holdings in Axon Enterprise by 183.3% in the 3rd quarter. Atwood & Palmer Inc. now owns 1,473 shares of the biotechnology company's stock worth $622,000 after acquiring an additional 953 shares during the period. Everhart Financial Group Inc. grew its position in Axon Enterprise by 4,709.9% in the third quarter. Everhart Financial Group Inc. now owns 22,270 shares of the biotechnology company's stock valued at $9,410,000 after acquiring an additional 21,807 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC grew its position in Axon Enterprise by 3,661.6% in the third quarter. Avidian Wealth Enterprises LLC now owns 62,818 shares of the biotechnology company's stock valued at $26,542,000 after acquiring an additional 61,148 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Activity at Axon Enterprise

In other news, President Joshua Isner sold 16,775 shares of the company'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 approximately $170,590,774.82. This represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the transaction, the insider directly owned 97,761 shares in the company, valued at $61,266,818.70. The trade was a 8.95% 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 a total of 47,397 shares of company stock worth $26,722,984 over the last quarter. Company insiders own 4.20% of the company's stock.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $417.31 on Friday. 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. The stock has a market cap of $33.90 billion, a P/E ratio of 173.16, a price-to-earnings-growth ratio of 7.64 and a beta of 1.44. The stock has a 50 day moving average of $520.54 and a 200-day moving average of $476.63.

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, topping analysts' consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business's revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.12 earnings per share. On average, analysts expect that Axon Enterprise, Inc will post 2.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AXON has been the topic of a number of recent research reports. TD Cowen reissued a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Citizens Jmp reaffirmed a "market outperform" rating and set a $700.00 price target on shares of Axon Enterprise in a report on Thursday, June 25th. UBS Group lifted their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Zacks Research upgraded shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a report on Monday. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. One equities 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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.