Axon Enterprise, Inc $AXON Stock Position Raised by Everhart Financial Group Inc.

Key Points

• Everhart Financial Group increased its Axon stake by 4,709.9% in the third quarter, reaching 22,270 shares worth approximately $9.41 million. Institutional investors collectively own 79.08% of Axon’s outstanding stock.
• Analysts maintain a positive outlook, with one Strong Buy, 14 Buy, and two Hold ratings; the consensus rating is Moderate Buy with a $721.57 price target.
• Axon’s latest quarterly revenue rose 35.3% year over year to $904.39 million, beating estimates, while EPS of $1.88 exceeded expectations. Shares traded at $410.98, with a high valuation reflected in a P/E ratio of 170.01.

Everhart Financial Group Inc. raised its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 4,709.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,270 shares of the biotechnology company's stock after acquiring an additional 21,807 shares during the quarter. Axon Enterprise makes up 0.6% of Everhart Financial Group Inc.'s investment portfolio, making the stock its 29th largest position. Everhart Financial Group Inc.'s holdings in Axon Enterprise were worth $9,410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Keating Financial Advisory Services Inc. acquired a new position in shares of Axon Enterprise during the 2nd quarter worth approximately $31,000. Washington Trust Advisors Inc. increased its position in Axon Enterprise by 1,300.0% during the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock worth $39,000 after buying an additional 65 shares in the last quarter. Wealth Enhancement Trust Services Inc. acquired a new position in shares of Axon Enterprise in the third quarter worth $33,000. Delos Wealth Advisors LLC acquired a new position in shares of Axon Enterprise in the second quarter worth $45,000. Finally, Owl Creek Wealth Partners LLC lifted its position in shares of Axon Enterprise by 84.8% in the second quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock valued at $48,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AXON shares. Barclays increased their price objective on Axon Enterprise from $523.00 to $688.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Citigroup restated a "market outperform" rating on shares of Axon Enterprise in a report on Thursday, September 17th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Zacks Research raised shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, Citizens Jmp reissued a "market outperform" rating and set a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. One 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $721.57.

Axon Enterprise Trading Up 1.2%

NASDAQ AXON traded up $4.98 during trading hours on Thursday, hitting $410.98. 435,656 shares of the company's stock were exchanged, compared to its average volume of 1,050,288. The business's 50 day moving average is $522.70 and its 200-day moving average is $477.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $764.02. The firm has a market capitalization of $33.39 billion, a P/E ratio of 170.01, a price-to-earnings-growth ratio of 7.88 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same quarter in the prior year, the company posted $2.12 EPS. The company's quarterly revenue was up 35.3% compared to the same quarter last year. As a group, analysts anticipate that Axon Enterprise, Inc will post 2.12 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In other news, insider Jeffrey Kunins sold 9,605 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the sale, the insider directly owned 97,761 shares of the company's stock, valued at $61,266,818.70. The trade was a 8.95% decrease in their position. The sale was disclosed in a filing 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 the company's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $480.45, for a total value of $488,617.65. Following the sale, the insider owned 56,264 shares of the company's stock, valued at approximately $27,032,038.80. The trade was 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. Insiders have sold 47,397 shares of company stock worth $26,722,984 in the last 90 days. Company insiders own 4.20% of the company's stock.

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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