Concurrent Investment Advisors LLC Has $2.74 Million Stock Position in Axon Enterprise, Inc $AXON

Key Points

• Concurrent Investment Advisors increased its Axon Enterprise stake by 200.1% in the second quarter, holding 4,889 shares valued at approximately $2.74 million. Institutional investors collectively own 79.08% of Axon’s stock.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and EPS of $1.88, exceeding analyst expectations. Despite the growth, the stock traded near $505.43 and carried a high valuation, including a price-to-earnings ratio above 209.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $721.57. However, company insiders sold more than 56,000 shares worth approximately $32.6 million over the past 90 days through pre-arranged trading plans.

Concurrent Investment Advisors LLC raised its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 200.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,889 shares of the biotechnology company's stock after buying an additional 3,260 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Axon Enterprise were worth $2,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AXON. Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise during the fourth quarter worth $28,000. Keating Financial Advisory Services Inc. acquired a new position in Axon Enterprise in the 2nd quarter worth $31,000. AlphaCentric Advisors LLC bought a new position in Axon Enterprise during the 4th quarter worth about $34,000. Darwin Wealth Management LLC bought a new position in Axon Enterprise during the 2nd quarter worth about $37,000. Finally, Strive Financial Group LLC bought a new position in Axon Enterprise during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Down 2.0%

AXON stock opened at $505.43 on Wednesday. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $792.16. The business's 50 day simple moving average is $568.47 and its 200 day simple moving average is $487.76. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $41.06 billion, a PE ratio of 209.72, a PEG ratio of 10.06 and a beta of 1.40.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $876.42 million. During the same quarter last year, the firm posted $2.12 EPS. The company's quarterly revenue was up 35.3% on a year-over-year basis. As a group, research analysts anticipate that Axon Enterprise, Inc will post 2.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AXON. TD Cowen reaffirmed a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Barclays increased their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Morgan Stanley raised their price objective on Axon Enterprise from $600.00 to $640.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. UBS Group lifted their target price on Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $721.57.

Insider Activity

In other news, insider Jeffrey Kunins sold 9,605 shares of the firm's stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the sale, the president directly owned 296,974 shares of the company's stock, valued at $170,590,774.82. The trade was a 5.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 56,380 shares of company stock valued at $32,582,366 over the last ninety days. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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