Axon Enterprise, Inc $AXON Stock: Bokf Na Reduces Holdings

Key Points

• Bokf Na cut its Axon Enterprise stake by 76.1% in the third quarter, selling 2,390 shares and retaining 752 shares valued at approximately $318,000. Institutional investors and hedge funds collectively own 79.08% of the company.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $688.38. Recent targets range from $600 at UBS to $680 at Northcoast Research.
• Axon insiders sold 47,397 shares worth about $26.7 million over the past three months under pre-arranged trading plans. Despite a 0.5% decline in the stock, the company reported quarterly revenue growth of 35.3% and earnings that topped estimates.

Bokf Na reduced its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 76.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 752 shares of the biotechnology company's stock after selling 2,390 shares during the period. Bokf Na's holdings in Axon Enterprise were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Keel Point LLC raised its holdings in Axon Enterprise by 4.4% in the 1st quarter. Keel Point LLC now owns 599 shares of the biotechnology company's stock valued at $254,000 after acquiring an additional 25 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in shares of Axon Enterprise by 4.4% during the 2nd quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company's stock worth $352,000 after purchasing an additional 26 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Axon Enterprise by 7.8% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 361 shares of the biotechnology company's stock worth $153,000 after purchasing an additional 26 shares in the last quarter. Roman Butler Fullerton & Co. grew its holdings in shares of Axon Enterprise by 2.4% during the 1st quarter. Roman Butler Fullerton & Co. now owns 1,278 shares of the biotechnology company's stock worth $500,000 after purchasing an additional 30 shares in the last quarter. Finally, 44 Wealth Management LLC increased its position in shares of Axon Enterprise by 6.0% in the first quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company's stock worth $225,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. 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 report on Thursday, August 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Morgan Stanley lifted their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Citigroup reissued a "market outperform" rating on shares of Axon Enterprise in a research note on Monday. Finally, Northcoast Research lifted their price target on Axon Enterprise from $650.00 to $680.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $688.38.

Insider Buying and Selling

In other news, President Joshua Isner sold 16,775 shares of the business's stock in a transaction that occurred on 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 transaction, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. The trade was a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Smith sold 10,000 shares of the company's stock in a transaction on Tuesday, September 8th. The shares were 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 directly owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 47,397 shares of company stock valued at $26,722,984 over the last three months. 4.20% of the stock is owned by insiders.

Axon Enterprise Stock Down 0.5%

NASDAQ:AXON opened at $425.43 on Tuesday. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $738.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The company has a market cap of $34.56 billion, a PE ratio of 176.53, a P/E/G ratio of 8.04 and a beta of 1.44. The firm's 50 day simple moving average is $459.39 and its 200 day simple moving average is $480.13.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.04. The company had revenue of $904.39 million for the quarter, compared to analysts' expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise's revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 earnings per share. On average, research analysts anticipate that Axon Enterprise, Inc will post 2.10 earnings per share for the current year.

Axon Enterprise Company 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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