Axon Enterprise, Inc $AXON Stock Acquired by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management increased its Axon stake by 1,105.7% in the third quarter, adding 135,480 shares to own 147,733 shares worth approximately $62.4 million. Institutional investors and hedge funds collectively own 79.08% of AXON.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and earnings of $1.88 per share, exceeding analysts’ $1.84 estimate. The stock opened at $420.37, with a 52-week range of $339.01 to $764.02.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $689.94. Meanwhile, insiders sold 47,397 shares worth $26.7 million over the past three months.

Apollon Wealth Management LLC increased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 1,105.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,733 shares of the biotechnology company's stock after purchasing an additional 135,480 shares during the period. Apollon Wealth Management LLC owned approximately 0.18% of Axon Enterprise worth $62,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AXON. Keating Financial Advisory Services Inc. bought a new position in shares of Axon Enterprise during the second quarter worth about $31,000. Washington Trust Advisors Inc. boosted its position in Axon Enterprise by 1,300.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock worth $39,000 after acquiring an additional 65 shares during the last quarter. Wealth Enhancement Trust Services Inc. bought a new position in shares of Axon Enterprise during the 3rd quarter worth approximately $33,000. Delos Wealth Advisors LLC bought a new position in shares of Axon Enterprise during the 2nd quarter worth approximately $45,000. Finally, Owl Creek Wealth Partners LLC grew its stake 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 acquiring an additional 39 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Isaiah Fields sold 1,017 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $480.45, for a total value of $488,617.65. Following the completion of the sale, the insider directly owned 56,264 shares of the company's stock, valued at $27,032,038.80. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a 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 Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the transaction, the insider owned 97,761 shares of the company's stock, valued at $61,266,818.70. This represents a 8.95% 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 47,397 shares of company stock worth $26,722,984 in the last three months. 4.20% of the stock is owned by corporate insiders.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $420.37 on Monday. The firm has a market capitalization of $34.15 billion, a PE ratio of 174.43, a P/E/G ratio of 7.99 and a beta of 1.44. The company's 50-day moving average is $480.64 and its 200-day moving average is $474.33. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week 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 issued its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (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 company had revenue of $904.39 million for the quarter, compared to analysts' expectations of $876.42 million. During the same period in the prior year, the firm earned $2.12 EPS. Axon Enterprise's quarterly revenue was up 35.3% compared to the same quarter last year. Sell-side analysts anticipate that Axon Enterprise, Inc will post 2.10 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on AXON shares. The Goldman Sachs Group lowered their price objective on shares of Axon Enterprise from $715.00 to $675.00 and set a "buy" rating on the stock in a report on Monday, September 21st. Argus increased their target price on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. UBS Group raised their target price on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Barclays lifted their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, TD Cowen restated a "buy" rating on shares of Axon Enterprise in a report on Tuesday, October 13th. One equities research 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $689.94.

About Axon Enterprise

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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