Axon Enterprise, Inc $AXON Stock Bought by Brookstone Capital Management

Key Points

• Brookstone Capital Management dramatically increased its Axon Enterprise position by 34,185% in the third quarter, ending with 359,992 shares valued at approximately $152.1 million. Institutional investors collectively own 79.08% of the company.
• Analysts remain broadly positive, with one Strong Buy, 14 Buy, and two Hold ratings; Axon has a consensus rating of “Moderate Buy” and an average price target of $707.07.
• 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. Shares opened at $414.60, while insiders have sold about $26.7 million of stock over the past 90 days.

Brookstone Capital Management lifted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 34,185.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 359,992 shares of the biotechnology company's stock after buying an additional 358,942 shares during the quarter. Axon Enterprise makes up 1.5% of Brookstone Capital Management's investment portfolio, making the stock its 9th largest position. Brookstone Capital Management owned about 0.44% of Axon Enterprise worth $152,104,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SeaCrest Wealth Management LLC boosted its holdings in shares of Axon Enterprise by 3,507.0% during the third quarter. SeaCrest Wealth Management LLC now owns 27,666 shares of the biotechnology company's stock worth $11,689,000 after purchasing an additional 26,899 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of Axon Enterprise in the 3rd quarter worth $2,389,000. Sowell Financial Services LLC lifted its stake in shares of Axon Enterprise by 1,652.0% in the 3rd quarter. Sowell Financial Services LLC now owns 142,492 shares of the biotechnology company's stock valued at $60,206,000 after purchasing an additional 134,359 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Axon Enterprise by 1,844.7% during the third quarter. Quadrant Capital Group LLC now owns 77,126 shares of the biotechnology company's stock worth $32,587,000 after buying an additional 73,160 shares during the period. Finally, Physician Wealth Advisors Inc. boosted its position in Axon Enterprise by 851.6% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 3,464 shares of the biotechnology company's stock worth $1,464,000 after purchasing an additional 3,100 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Analyst Ratings Changes

AXON has been the topic of a number of recent research reports. TD Cowen reissued a "buy" rating on shares of Axon Enterprise in a research report on Tuesday, October 13th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Argus raised their price objective on Axon Enterprise from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. Citigroup reaffirmed a "market outperform" rating on shares of Axon Enterprise in a report on Thursday, September 17th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $715.00 price objective on shares of Axon Enterprise in a 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $707.07.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $414.60 on Friday. 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 firm has a market capitalization of $33.68 billion, a PE ratio of 172.03, a P/E/G ratio of 7.66 and a beta of 1.44. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $764.02. The business's fifty day moving average price is $484.49 and its two-hundred day moving average price is $474.28.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating 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 company 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 company posted $2.12 earnings per share. The company's revenue for the quarter was up 35.3% compared to the same quarter last year. On average, research analysts expect that Axon Enterprise, Inc will post 2.10 EPS for the current year.

Insiders Place Their Bets

In related news, President Joshua Isner sold 16,775 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the sale, the president directly owned 296,974 shares in the company, valued at $170,590,774.82. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the sale, the insider directly owned 56,264 shares in the company, valued at $27,032,038.80. The trade was a 1.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 47,397 shares of company stock valued at $26,722,984. 4.20% of the stock is owned by corporate insiders.

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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