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

Key Points

• Avior Wealth Management increased its Axon Enterprise position by 1,837.4% in the third quarter, owning 34,873 shares valued at approximately $14.7 million. Institutional investors collectively hold 79.08% of AXON’s outstanding stock.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and adjusted earnings of $1.88 per share, exceeding analysts’ expectations. However, the stock opened at $414.43, well below its 50-day and 200-day moving averages, and carries a high P/E ratio of 171.96.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $721.57. Company insiders sold 47,397 shares worth about $26.7 million during the last quarter, primarily through pre-arranged trading plans.

Avior Wealth Management LLC boosted its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 1,837.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,873 shares of the biotechnology company's stock after purchasing an additional 33,073 shares during the period. Avior Wealth Management LLC's holdings in Axon Enterprise were worth $14,735,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AXON. State Street Corp increased its stake in shares of Axon Enterprise by 5,700.2% in the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company's stock valued at $119,724,905,000 after buying an additional 209,879,882 shares during the period. Envestnet Asset Management Inc. boosted its position in Axon Enterprise by 18,050.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company's stock worth $7,400,094,000 after buying an additional 13,127,348 shares during the period. BlackRock Inc. boosted its position in Axon Enterprise by 4.3% during the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company's stock worth $4,672,432,000 after buying an additional 345,365 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Axon Enterprise by 8,432.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company's stock worth $1,983,414,000 after acquiring an additional 3,496,493 shares during the last quarter. Finally, Sands Capital Management LLC grew its holdings in Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock worth $914,047,000 after acquiring an additional 167,095 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $414.43 on Tuesday. The stock's 50 day moving average is $515.21 and its 200 day moving average is $475.74. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $764.02. The firm has a market cap of $33.67 billion, a P/E ratio of 171.96, a P/E/G ratio of 7.96 and a beta of 1.44. 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 released its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company's revenue for the quarter was up 35.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.12 EPS. As a group, research analysts expect that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Insider Activity

In other news, President Joshua Isner sold 16,775 shares of the stock in a transaction 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 completion of the sale, the president directly owned 296,974 shares in the company, valued at $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of Axon Enterprise stock in a transaction on Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the transaction, the insider directly owned 56,264 shares of the company's stock, valued at $27,032,038.80. This represents a 1.78% 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 have 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.

Analyst Upgrades and Downgrades

AXON has been the subject of several recent research reports. The Goldman Sachs Group restated a "buy" rating and issued a $715.00 price target on shares of Axon Enterprise in a research report on Thursday, August 6th. Royal Bank Of Canada reissued an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Zacks Research raised shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Weiss Ratings restated a "hold (c-)" rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Finally, UBS Group raised their target price on Axon Enterprise from $440.00 to $600.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise has an average rating of "Moderate Buy" and a consensus target price of $721.57.

About Axon Enterprise

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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