Axon Enterprise, Inc $AXON Stock: Barrett & Company Inc. Increases Holdings

Key Points

• Barrett & Company significantly increased its Axon stake by 2,250.7% in the third quarter, ending with 6,582 shares valued at approximately $2.78 million. Institutional investors and hedge funds collectively own 79.08% of the stock.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and earnings per share of $1.88, exceeding analysts’ $1.84 estimate. The stock opened at $420.37, well below its 52-week high of $764.02.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $689.94. Meanwhile, company insiders sold 47,397 shares worth about $26.7 million over the past three months under pre-arranged trading plans.

Barrett & Company Inc. raised its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 2,250.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,582 shares of the biotechnology company's stock after purchasing an additional 6,302 shares during the quarter. Axon Enterprise accounts for about 0.7% of Barrett & Company Inc.'s investment portfolio, making the stock its 29th biggest position. Barrett & Company Inc.'s holdings in Axon Enterprise were worth $2,781,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Keel Point LLC boosted its stake in Axon Enterprise by 4.4% during the first quarter. Keel Point LLC now owns 599 shares of the biotechnology company's stock worth $254,000 after buying an additional 25 shares in the last quarter. Bridgewater Advisors Inc. increased 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 purchasing an additional 26 shares in the last quarter. Roman Butler Fullerton & Co. raised its holdings in shares of Axon Enterprise by 2.4% in the first 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 during the last quarter. 44 Wealth Management LLC grew its stake in shares of Axon Enterprise by 6.0% during the first quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company's stock valued at $225,000 after purchasing an additional 30 shares during the last quarter. Finally, Owl Creek Wealth Partners LLC raised its position in shares of Axon Enterprise by 84.8% during the second 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 during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $420.37 on Friday. The firm has a 50-day moving average of $480.64 and a 200-day moving average of $473.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The stock has a market cap of $34.15 billion, a PE ratio of 174.43, a P/E/G ratio of 7.88 and a beta of 1.44. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $764.02.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $876.42 million. During the same quarter in the previous year, the firm posted $2.12 EPS. Axon Enterprise's revenue was up 35.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Axon Enterprise, Inc will post 2.10 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on AXON. Northcoast Research raised their price objective on shares of Axon Enterprise from $650.00 to $680.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Barclays raised their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Zacks Research upgraded Axon Enterprise from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th. TD Cowen reaffirmed a "buy" rating on shares of Axon Enterprise in a research report on Tuesday, October 13th. Finally, The Goldman Sachs Group cut their price objective on Axon Enterprise from $715.00 to $675.00 and set a "buy" rating for the company in a report on Monday, September 21st. One 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $689.94.

Insider Activity at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the sale, the chief executive officer owned 3,118,012 shares of the company's stock, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $170,590,774.82. The trade was a 5.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 47,397 shares of company stock valued at $26,722,984. 4.20% of the stock is currently owned by insiders.

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.

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