Axon Enterprise, Inc $AXON Stock Bought by Ascent Wealth Partners LLC

Key Points

• Ascent Wealth Partners increased its Axon Enterprise holdings by 308.2% in the third quarter, reaching 66,568 shares valued at approximately $28.1 million. Institutional investors collectively own 79.08% of the company.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $689.94; recent targets include $675 from Raymond James and $640 from Morgan Stanley.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and adjusted earnings of $1.88 per share, exceeding analyst expectations. However, the stock trades at a high valuation, with a P/E ratio of 174.43.

Ascent Wealth Partners LLC grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 308.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,568 shares of the biotechnology company's stock after purchasing an additional 50,260 shares during the period. Axon Enterprise makes up 2.7% of Ascent Wealth Partners LLC's investment portfolio, making the stock its 6th largest position. Ascent Wealth Partners LLC owned 0.08% of Axon Enterprise worth $28,126,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AXON. State Street Corp boosted its position in shares of Axon Enterprise by 5,700.2% during the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company's stock worth $119,724,905,000 after buying an additional 209,879,882 shares during the period. Envestnet Asset Management Inc. lifted its stake in Axon Enterprise by 18,050.2% in the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company's stock worth $7,400,094,000 after acquiring an additional 13,127,348 shares during the last quarter. BlackRock Inc. increased its holdings in Axon Enterprise by 4.3% in the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company's stock valued at $4,672,432,000 after buying an additional 345,365 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Axon Enterprise by 391,214.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company's stock worth $2,952,943,000 after acquiring an additional 6,987,098 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Axon Enterprise by 5,022.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company's stock worth $1,802,719,000 after buying an additional 4,183,302 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Raymond James Financial set a $675.00 target price on Axon Enterprise in a research report on Thursday, October 15th. Morgan Stanley raised their price target on Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Citigroup reiterated a "market outperform" rating on shares of Axon Enterprise in a research note on Thursday, September 17th. Weiss Ratings restated a "hold (c-)" rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Finally, UBS Group lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $689.94.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $420.37 on Friday. The stock has a market capitalization of $34.15 billion, a PE ratio of 174.43, a price-to-earnings-growth ratio of 7.99 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. The stock's 50-day moving average price is $480.64 and its 200 day moving average price is $473.90. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The firm had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same period in the prior year, the business earned $2.12 EPS. The firm's revenue was up 35.3% compared to the same quarter last year. As a group, equities research analysts forecast that Axon Enterprise, Inc will post 2.10 EPS for the current year.

Insider Buying and Selling

In related news, insider Isaiah Fields sold 1,017 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the sale, the chief executive officer directly owned 3,118,012 shares of the company's stock, valued at approximately $1,587,036,927.88. This represents a 0.32% decrease in their ownership of the stock. 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 47,397 shares of company stock worth $26,722,984 over the last three months. 4.20% of the stock is owned by company 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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