Axon Enterprise, Inc $AXON Stock Position Lifted by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management increased its Axon Enterprise position by 3,745.6% in the third quarter, bringing its holdings to 45,647 shares valued at approximately $19.3 million. Institutional investors and hedge funds collectively own 79.08% of the stock.
• Axon reported quarterly earnings of $1.88 per share, exceeding estimates of $1.84, while revenue rose 35.3% year over year to $904.39 million. Despite this growth, the stock traded at $420.37, with a high valuation reflected in its 174.43 price-to-earnings ratio.
• Analysts maintain a positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $689.94. Meanwhile, insiders sold 47,397 shares worth $26.7 million over the past three months, primarily through pre-arranged trading plans.

Evergreen Capital Management LLC increased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3,745.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,647 shares of the biotechnology company's stock after buying an additional 44,460 shares during the period. Evergreen Capital Management LLC owned about 0.06% of Axon Enterprise worth $19,287,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Manchester Capital Management LLC raised its stake in shares of Axon Enterprise by 40,610.5% in the third quarter. Manchester Capital Management LLC now owns 7,735 shares of the biotechnology company's stock valued at $3,268,000 after acquiring an additional 7,716 shares in the last quarter. Barrett & Company Inc. lifted its stake in Axon Enterprise by 2,250.7% during the third quarter. Barrett & Company Inc. now owns 6,582 shares of the biotechnology company's stock worth $2,781,000 after purchasing an additional 6,302 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in shares of Axon Enterprise by 627,002.2% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 282,196 shares of the biotechnology company's stock valued at $119,233,000 after buying an additional 282,151 shares in the last quarter. Wedbush Securities Inc. boosted its stake in Axon Enterprise by 4,001.7% in the third quarter. Wedbush Securities Inc. now owns 160,664 shares of the biotechnology company's stock valued at $67,884,000 after acquiring an additional 156,747 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its stake in Axon Enterprise by 13,721.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 158,812 shares of the biotechnology company's stock worth $67,101,000 after buying an additional 157,663 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $420.37 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The stock has a fifty day moving average of $480.64 and a two-hundred day moving average of $473.90. The company has a market capitalization of $34.15 billion, a price-to-earnings ratio of 174.43, a PEG ratio of 7.99 and a beta of 1.44. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week 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. The company had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The business's revenue for the quarter was up 35.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.12 EPS. On average, analysts anticipate that Axon Enterprise, Inc will post 2.10 EPS for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In related news, insider Isaiah Fields sold 1,017 shares of the company's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the sale, the insider directly owned 56,264 shares of the company's stock, valued at approximately $27,032,038.80. This represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Smith sold 10,000 shares of the stock in a transaction dated 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 owned 3,118,012 shares of the company's stock, valued at approximately $1,587,036,927.88. This trade represents a 0.32% 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 three months, insiders sold 47,397 shares of company stock valued at $26,722,984. 4.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AXON. Needham & Company LLC restated a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Argus upped their price target on Axon Enterprise from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. Royal Bank Of Canada reissued an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Morgan Stanley raised their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, TD Cowen restated a "buy" rating on shares of Axon Enterprise in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $689.94.

Axon Enterprise Company 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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