Axon Enterprise, Inc $AXON Stock Bought by Teamwork Financial Advisors LLC

Key Points

• Teamwork Financial Advisors increased its Axon stake by 1,338.1% in the third quarter, buying 7,694 additional shares for a total holding of 8,269 shares valued at approximately $3.49 million. Institutional investors collectively own 79.08% of the company.
• Axon shares fell 1.8% to $383.09, well below the 52-week high of $764.02. Despite the decline, the company reported quarterly revenue growth of 35.3% and beat analysts’ EPS estimates, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $718.47.
• Company insiders sold 47,397 shares worth about $26.7 million over the past 90 days, including sales by the CEO and president under pre-arranged Rule 10b5-1 trading plans.

Teamwork Financial Advisors LLC boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 1,338.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,269 shares of the biotechnology company's stock after buying an additional 7,694 shares during the quarter. Teamwork Financial Advisors LLC's holdings in Axon Enterprise were worth $3,494,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Axon Enterprise by 5,700.2% in the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company's stock worth $119,724,905,000 after acquiring an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Axon Enterprise by 18,050.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company's stock worth $7,400,094,000 after purchasing an additional 13,127,348 shares during the period. BlackRock Inc. increased its holdings in Axon Enterprise by 4.3% in the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company's stock valued at $4,672,432,000 after purchasing an additional 345,365 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Axon Enterprise by 8,432.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company's stock valued at $1,983,414,000 after purchasing an additional 3,496,493 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Axon Enterprise by 5,022.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company's stock valued at $1,802,719,000 after purchasing an additional 4,183,302 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Buying and Selling

In other news, CEO Patrick Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction dated 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 completion of the transaction, the president owned 296,974 shares of the company's stock, valued at $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. Insiders sold 47,397 shares of company stock worth $26,722,984 over the last 90 days. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Stock Down 1.8%

Shares of NASDAQ AXON traded down $7.20 during mid-day trading on Monday, hitting $383.09. The company had a trading volume of 1,223,634 shares, compared to its average volume of 1,052,702. The company has a market capitalization of $31.12 billion, a PE ratio of 158.96, a price-to-earnings-growth ratio of 7.34 and a beta of 1.44. 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, Inc has a 1-year low of $339.01 and a 1-year high of $764.02. The business's 50-day simple moving average is $501.59 and its 200 day simple moving average is $474.85.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $876.42 million. During the same period last year, the business posted $2.12 earnings per share. Axon Enterprise's revenue was up 35.3% compared to the same quarter last year. On average, analysts predict that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on AXON shares. Citigroup reissued a "market outperform" rating on shares of Axon Enterprise in a research report on Thursday, September 17th. Raymond James Financial set a $675.00 price objective on Axon Enterprise in a research note on Thursday. TD Cowen reaffirmed a "buy" rating on shares of Axon Enterprise in a research note on Tuesday, October 13th. Piper Sandler boosted their price objective on Axon Enterprise from $724.00 to $732.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Finally, Argus increased their target price on Axon Enterprise from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $718.47.

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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