Mn Services Vermogensbeheer B.V. Buys 1,239,856 Shares of Axon Enterprise, Inc $AXON

Key Points

• Mn Services Vermogensbeheer B.V. increased its Axon Enterprise stake by 5,571.4% in the third quarter, purchasing 1,239,856 shares. It now owns 1.26 million shares worth approximately $533.3 million, representing 3.9% of its portfolio.
• Axon reported quarterly earnings of $1.88 per share, exceeding estimates of $1.84, while revenue rose 35.3% year over year to $904.4 million. The stock opened at $417.31, well below its 52-week high of $764.02.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $721.57. Meanwhile, insiders sold 47,397 shares worth $26.7 million over the past 90 days through pre-arranged trading plans.

Mn Services Vermogensbeheer B.V. grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 5,571.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,262,110 shares of the biotechnology company's stock after buying an additional 1,239,856 shares during the period. Axon Enterprise accounts for approximately 3.9% of Mn Services Vermogensbeheer B.V.'s holdings, making the stock its 4th biggest holding. Mn Services Vermogensbeheer B.V. owned approximately 1.55% of Axon Enterprise worth $533,267,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Keating Financial Advisory Services Inc. purchased a new stake in Axon Enterprise during the second quarter valued at about $31,000. Wealth Enhancement Trust Services Inc. acquired a new stake in Axon Enterprise during the third quarter worth about $33,000. Washington Trust Advisors Inc. raised its holdings in shares of Axon Enterprise by 1,300.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock worth $39,000 after purchasing an additional 65 shares during the period. Delos Wealth Advisors LLC purchased a new position in shares of Axon Enterprise in the 2nd quarter worth about $45,000. Finally, Owl Creek Wealth Partners LLC lifted its stake in shares of Axon Enterprise by 84.8% in the 2nd quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 39 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Shares of AXON opened at $417.31 on Friday. The business's 50 day moving average is $520.54 and its two-hundred day moving average is $476.63. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $764.02. The firm has a market cap of $33.90 billion, a price-to-earnings ratio of 173.16, a PEG ratio of 7.64 and a beta of 1.44. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released 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 business had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business's quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.12 earnings per share. Analysts forecast that Axon Enterprise, Inc will post 2.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on AXON. TD Cowen reissued a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $715.00 price target on shares of Axon Enterprise in a research report on Thursday, August 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Citigroup reissued a "market outperform" rating on shares of Axon Enterprise in a research report on Thursday, September 17th. Finally, Piper Sandler raised their target price on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. One 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $721.57.

Insider Activity at Axon Enterprise

In other news, 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 transaction of $5,089,900.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 that occurred on Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the completion of the transaction, the president owned 296,974 shares of the company's stock, valued at approximately $170,590,774.82. The trade was a 5.35% 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 sold 47,397 shares of company stock valued at $26,722,984 in the last 90 days. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Profile

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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