SteelPeak Wealth LLC Buys 237,880 Shares of Axon Enterprise, Inc $AXON

Key Points

• SteelPeak Wealth significantly increased its Axon Enterprise stake by purchasing 237,880 shares in the third quarter, bringing its holdings to 238,547 shares valued at approximately $100.8 million.
• Wall Street remains broadly positive on Axon, with a consensus “Moderate Buy” rating and an average price target of $718.47. Recent quarterly results also exceeded expectations, with revenue rising 35.3% year over year to $904.4 million.
• Axon insiders sold shares worth approximately $26.7 million over the past 90 days, while the stock traded at $390.29 and carried a high valuation, including a price-to-earnings ratio of 161.95.

SteelPeak Wealth LLC grew its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 35,664.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,547 shares of the biotechnology company's stock after buying an additional 237,880 shares during the period. Axon Enterprise accounts for about 2.5% of SteelPeak Wealth LLC's holdings, making the stock its 7th biggest holding. SteelPeak Wealth LLC owned 0.29% of Axon Enterprise worth $100,791,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pure Financial Advisors LLC lifted its stake in shares of Axon Enterprise by 6.7% in the fourth quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company's stock worth $207,000 after acquiring an additional 23 shares during the period. Keel Point LLC boosted its holdings in Axon Enterprise by 4.4% in the first quarter. Keel Point LLC now owns 599 shares of the biotechnology company's stock valued at $254,000 after acquiring an additional 25 shares during the last quarter. Bridgewater Advisors Inc. boosted its holdings in Axon Enterprise by 4.4% in the second quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company's stock valued at $352,000 after acquiring an additional 26 shares during the last quarter. Roman Butler Fullerton & Co. boosted its holdings in Axon Enterprise by 2.4% in the first quarter. Roman Butler Fullerton & Co. now owns 1,278 shares of the biotechnology company's stock valued at $500,000 after acquiring an additional 30 shares during the last quarter. Finally, 44 Wealth Management LLC increased its position in Axon Enterprise by 6.0% during the 1st quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company's stock valued at $225,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AXON shares. Barclays raised their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Needham & Company LLC restated a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Piper Sandler upped their price objective 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. UBS Group upped their price objective on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, Morgan Stanley increased their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise currently has a consensus rating of "Moderate Buy" and a consensus price target of $718.47.

Insiders Place Their Bets

In related news, President Joshua Isner sold 16,775 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the president owned 296,974 shares of the company's stock, valued at $170,590,774.82. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of Axon Enterprise stock in a transaction that occurred 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 completion of 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 47,397 shares of company stock worth $26,722,984. Company insiders own 4.20% of the company's stock.

Axon Enterprise Stock Performance

AXON stock opened at $390.29 on Friday. The stock has a 50-day moving average price of $501.59 and a 200-day moving average price of $474.43. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $764.02. 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 cap of $31.71 billion, a PE ratio of 161.95, a price-to-earnings-growth ratio of 7.34 and a beta of 1.44.

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

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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