Axon Enterprise, Inc $AXON Stock Bought by WoodTrust Financial Corp

Key Points

• WoodTrust Financial increased its Axon Enterprise position by 252.2% in the third quarter, purchasing 8,361 additional shares and bringing its holdings to 11,676 shares valued at approximately $4.93 million.
• Institutional investors own 79.08% of Axon’s stock, while analysts maintain a “Moderate Buy” consensus with an average price target of $721.57; recent targets range from $600 to $700.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and earnings of $1.88 per share, slightly exceeding estimates. However, insiders sold 47,397 shares worth about $26.7 million over the last quarter, and the stock traded at $415.68, well below its 52-week high of $764.02.

WoodTrust Financial Corp grew its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 252.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,676 shares of the biotechnology company's stock after buying an additional 8,361 shares during the quarter. WoodTrust Financial Corp's holdings in Axon Enterprise were worth $4,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in AXON. State Street Corp raised its position in 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 valued at $119,724,905,000 after acquiring an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. grew its position 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 in the last quarter. BlackRock Inc. grew its position in Axon Enterprise by 4.3% in the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company's stock worth $4,672,432,000 after acquiring an additional 345,365 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Axon Enterprise by 8,432.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company's stock worth $1,983,414,000 after purchasing an additional 3,496,493 shares during the last quarter. Finally, Sands Capital Management LLC increased its stake in shares of Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock worth $914,047,000 after purchasing an additional 167,095 shares during the last quarter. Institutional investors own 79.08% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AXON shares. Citizens Jmp reaffirmed a "market outperform" rating and issued a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Morgan Stanley upped 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. UBS Group boosted their target price on Axon Enterprise from $440.00 to $600.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $721.57.

Insiders Place Their Bets

In other Axon Enterprise news, insider Jeffrey Kunins sold 9,605 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the sale, the insider owned 97,761 shares of the company's stock, valued at $61,266,818.70. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 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 completion of the transaction, the president directly owned 296,974 shares in the company, valued at approximately $170,590,774.82. This represents a 5.35% 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. Over the last quarter, insiders sold 47,397 shares of company stock worth $26,722,984. Corporate insiders own 4.20% of the company's stock.

Axon Enterprise Stock Performance

AXON stock traded down $1.63 during mid-day trading on Friday, reaching $415.68. 304,312 shares of the stock traded hands, compared to its average volume of 1,052,397. 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, Inc has a 52 week low of $339.01 and a 52 week high of $764.02. The business has a 50-day moving average of $520.54 and a two-hundred day moving average of $476.63. The firm has a market capitalization of $33.77 billion, a PE ratio of 172.73, a P/E/G ratio of 7.64 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued 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 return on equity of 2.84% and a net margin of 6.19%.The company had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. During the same period last year, the business posted $2.12 earnings per share. The firm's revenue was up 35.3% compared to the same quarter last year. As a group, equities analysts predict that Axon Enterprise, Inc will post 2.12 EPS for the current fiscal year.

Axon Enterprise Company 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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