Axon Enterprise, Inc $AXON Stock Bought by RDA Financial Network

Key Points

• RDA Financial Network increased its Axon Enterprise stake by 807.1% in the third quarter, ending with 32,339 shares worth approximately $13.7 million. Institutional investors collectively own 79.08% of the company.
• Axon reported quarterly revenue of $904.4 million, up 35.3% year over year, and earnings of $1.88 per share, exceeding analyst expectations. However, the stock traded at a high P/E ratio of 169.35.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $718.47, while insiders have sold roughly $26.7 million of stock over the past 90 days.

RDA Financial Network lifted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 807.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 32,339 shares of the biotechnology company's stock after purchasing an additional 28,774 shares during the period. Axon Enterprise comprises about 2.9% of RDA Financial Network's investment portfolio, making the stock its 8th biggest position. RDA Financial Network's holdings in Axon Enterprise were worth $13,664,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AXON. Keating Financial Advisory Services Inc. bought a new stake in Axon Enterprise in the second quarter worth $31,000. Washington Trust Advisors Inc. boosted its position in Axon Enterprise by 1,300.0% during the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock valued at $39,000 after buying an additional 65 shares during the period. Wealth Enhancement Trust Services Inc. bought a new position in shares of Axon Enterprise during the third quarter valued at about $33,000. Delos Wealth Advisors LLC bought a new position in shares of Axon Enterprise during the second quarter valued at about $45,000. Finally, Owl Creek Wealth Partners LLC grew its stake 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 valued at $48,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Trading Up 0.3%

AXON stock traded up $1.20 during trading on Thursday, reaching $409.62. The company had a trading volume of 408,595 shares, compared to its average volume of 1,047,204. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $764.02. The company has a market cap of $33.28 billion, a P/E ratio of 169.35, a PEG ratio of 7.78 and a beta of 1.44. The business has a 50 day moving average of $507.31 and a 200 day moving average of $475.11. 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 issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise's quarterly revenue was up 35.3% compared to the same quarter last year. During the same period last year, the business posted $2.12 earnings per share. As a group, sell-side analysts forecast that Axon Enterprise, Inc will post 2.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays lifted their price objective on Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. TD Cowen restated a "buy" rating on shares of Axon Enterprise in a report on Tuesday. The Goldman Sachs Group restated a "buy" rating and set a $715.00 price target on shares of Axon Enterprise in a research report on Thursday, August 6th. Royal Bank Of Canada restated an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Finally, Piper Sandler lifted their price target on Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Axon Enterprise currently has a consensus rating of "Moderate Buy" and an average price target of $718.47.

Insider Transactions at Axon Enterprise

In other Axon Enterprise 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 value of $488,617.65. Following the completion of the transaction, the insider owned 56,264 shares in the company, valued at approximately $27,032,038.80. This represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total value of $5,089,900.00. Following the transaction, the chief executive officer directly owned 3,118,012 shares of the company's stock, valued at $1,587,036,927.88. This represents a 0.32% 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. Over the last ninety days, insiders have sold 47,397 shares of company stock valued at $26,722,984. Company insiders own 4.20% of the company's stock.

Axon Enterprise Profile

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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