Axon Enterprise, Inc $AXON Stock Holdings Boosted by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Axon stake by 429.4% in the third quarter, adding 227,949 shares to reach 281,029 shares valued at about $122.7 million. Institutional investors and hedge funds own 79.08% of the stock.
• Axon’s latest quarterly results fell short of analyst expectations: EPS was $1.72 versus $1.89 expected, and revenue was $908.55 million versus $934.33 million expected. Revenue nevertheless grew 27.8% year over year.
• Analysts’ average rating is “Moderate Buy,” with a consensus price target of $612.18; several firms recently lowered their targets. Company insiders sold 37,397 shares worth about $21.2 million in the last quarter.

Aberdeen Group plc grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 429.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 281,029 shares of the biotechnology company's stock after buying an additional 227,949 shares during the period. Aberdeen Group plc owned approximately 0.35% of Axon Enterprise worth $122,674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AXON. Keel Point LLC raised its holdings in shares of Axon Enterprise by 4.4% during the first quarter. Keel Point LLC now owns 599 shares of the biotechnology company's stock worth $254,000 after acquiring an additional 25 shares during the period. Bridgewater Advisors Inc. lifted its position in Axon Enterprise by 4.4% in the 2nd quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company's stock valued at $352,000 after acquiring an additional 26 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in Axon Enterprise by 7.8% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 361 shares of the biotechnology company's stock worth $153,000 after purchasing an additional 26 shares during the period. 44 Wealth Management LLC boosted its stake in Axon Enterprise by 6.0% in the 1st quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company's stock worth $225,000 after purchasing an additional 30 shares during the period. Finally, Owl Creek Wealth Partners LLC boosted its stake in Axon Enterprise by 84.8% in the 2nd quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 39 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Axon Enterprise

In related news, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction dated 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 approximately $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 dated Friday, September 11th. The shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the completion of the sale, the insider directly owned 56,264 shares in the company, valued at approximately $27,032,038.80. This represents a 1.78% 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. In the last quarter, insiders have sold 37,397 shares of company stock valued at $21,234,034. Corporate insiders own 4.20% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $315.43 on Friday. Axon Enterprise, Inc has a 12 month low of $291.45 and a 12 month high of $665.07. The company's fifty day simple moving average is $417.79 and its 200-day simple moving average is $467.68. The firm has a market cap of $25.69 billion, a PE ratio of 101.10, a P/E/G ratio of 5.84 and a beta of 1.48. The company has a quick ratio of 2.60, a current ratio of 3.00 and a debt-to-equity ratio of 0.76.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Thursday, November 5th. The biotechnology company reported $1.72 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.17). Axon Enterprise had a net margin of 7.56% and a return on equity of 3.87%. The business had revenue of $908.55 million during the quarter, compared to the consensus estimate of $934.33 million. During the same period last year, the business posted $1.17 EPS. The firm's revenue for the quarter was up 27.8% on a year-over-year basis. Equities research analysts expect that Axon Enterprise, Inc will post 2.10 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AXON shares. JPMorgan Chase & Co. lowered their target price on Axon Enterprise from $755.00 to $610.00 and set an "overweight" rating for the company in a report on Friday, November 6th. Piper Sandler restated an "overweight" rating and issued a $540.00 price target (down from $561.00) on shares of Axon Enterprise in a report on Friday, November 6th. Raymond James Financial set a $675.00 price objective on Axon Enterprise in a research report on Thursday, October 15th. Royal Bank Of Canada reduced their price objective on Axon Enterprise from $735.00 to $615.00 and set an "outperform" rating for the company in a research report on Friday, November 6th. Finally, Zacks Research downgraded Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 3rd. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and a consensus target price of $612.18.

About Axon Enterprise

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals. The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.

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