Axon Enterprise, Inc $AXON Stock Holdings Raised by Nvwm LLC

Key Points

• Nvwm LLC increased its Axon Enterprise stake by 99,266.7% in the third quarter, purchasing 2,978 additional shares for a total holding of 2,981 shares valued at approximately $1.26 million.
• Institutional investors own 79.08% of Axon’s shares, while insiders sold 47,397 shares worth about $26.7 million during the last quarter, including sales by CEO Patrick Smith under a pre-arranged trading plan.
• Axon’s latest quarter beat earnings and revenue expectations, with revenue rising 35.3% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $721.57, despite the stock trading down 1.2% and at a high valuation.

Nvwm LLC boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 99,266.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,981 shares of the biotechnology company's stock after purchasing an additional 2,978 shares during the quarter. Nvwm LLC's holdings in Axon Enterprise were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Axon Enterprise by 5,700.2% in the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company's stock worth $119,724,905,000 after purchasing an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Axon Enterprise by 18,050.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company's stock valued at $7,400,094,000 after buying an additional 13,127,348 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of 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 buying an additional 345,365 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of 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 buying an additional 3,496,493 shares in the last quarter. Finally, Nykredit A S purchased a new position in shares of Axon Enterprise in the 2nd quarter worth approximately $698,937,000. Institutional investors own 79.08% of the company's stock.

Insider Activity at Axon Enterprise

In related news, CEO Patrick Smith sold 10,000 shares of Axon Enterprise stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 3,118,012 shares in the company, valued at $1,587,036,927.88. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 that occurred on Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the sale, the insider owned 56,264 shares of the company's stock, valued at $27,032,038.80. This trade represents a 1.78% 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 valued at $26,722,984. Company insiders own 4.20% of the company's stock.

Axon Enterprise Trading Down 1.2%

Shares of NASDAQ:AXON opened at $408.42 on Thursday. 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 $33.18 billion, a P/E ratio of 169.47, a P/E/G ratio of 7.78 and a beta of 1.44. The business's 50-day moving average is $507.31 and its 200 day moving average is $475.11. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $764.02.

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 for the quarter, topping 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 business had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The company's revenue was up 35.3% on a year-over-year basis. On average, research analysts predict that Axon Enterprise, Inc will post 2.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on AXON. Argus boosted their price objective on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. Citizens Jmp reissued a "market outperform" rating and set a $700.00 target price on shares of Axon Enterprise in a research report on Thursday, June 25th. Zacks Research upgraded shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Barclays lifted their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Axon Enterprise in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $721.57.

About Axon Enterprise

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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