Axon Enterprise, Inc $AXON Stock Purchased by Sigma Planning Corp

Key Points

• Sigma Planning Corp increased its Axon Enterprise stake by 30,292.7% in the third quarter, owning 184,180 shares worth approximately $77.8 million. Hedge funds and other institutional investors collectively own 79.08% of AXON.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $689.94, despite some target reductions.
• Axon’s latest quarterly results exceeded expectations, with $1.88 in earnings per share and $904.39 million in revenue, up 35.3% year over year. Insiders, however, sold 47,397 shares worth $26.7 million over the past 90 days.

Sigma Planning Corp increased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 30,292.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,180 shares of the biotechnology company's stock after buying an additional 183,574 shares during the quarter. Axon Enterprise accounts for about 2.0% of Sigma Planning Corp's portfolio, making the stock its 5th largest position. Sigma Planning Corp owned approximately 0.23% of Axon Enterprise worth $77,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake 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 valued at $119,724,905,000 after buying an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings 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 stake in shares of Axon Enterprise by 4.3% during 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 during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Axon Enterprise by 391,214.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company's stock worth $2,952,943,000 after acquiring an additional 6,987,098 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Axon Enterprise by 8,432.6% during the second 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 acquiring an additional 3,496,493 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AXON has been the subject of several research analyst reports. Raymond James Financial set a $675.00 price objective on shares of Axon Enterprise in a research report on Thursday, October 15th. Piper Sandler lowered their target price on shares of Axon Enterprise from $732.00 to $561.00 and set an "overweight" rating for the company in a research note on Tuesday, October 20th. Needham & Company LLC reissued a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Barclays upped their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, UBS Group raised their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. 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.com, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus price target of $689.94.

Axon Enterprise Stock Performance

Shares of AXON opened at $420.37 on Monday. The stock has a 50-day moving average of $480.64 and a two-hundred day moving average of $474.33. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $764.02. 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 market cap of $34.15 billion, a P/E ratio of 174.43, a P/E/G ratio of 7.99 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share 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 business had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. During the same quarter in the previous year, the business earned $2.12 EPS. The company's quarterly revenue was up 35.3% compared to the same quarter last year. As a group, research analysts predict that Axon Enterprise, Inc will post 2.10 EPS for the current year.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 16,775 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $574.43, for a total value of $9,636,063.25. Following the transaction, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. This represents a 5.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares in the company, valued at approximately $61,266,818.70. This trade represents a 8.95% 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. Insiders have sold 47,397 shares of company stock worth $26,722,984 in the last ninety days. Corporate insiders own 4.20% of the company's stock.

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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