United Capital Financial Advisors LLC Acquires New Shares in Axon Enterprise, Inc $AXON

Key Points

• United Capital Financial Advisors acquired 3,499 Axon Enterprise shares worth approximately $1.96 million, while institutional investors collectively own 79.08% of the company.
• Analyst sentiment remains positive, with 13 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $730.92.
• Axon exceeded quarterly expectations with $1.88 earnings per share and $904.39 million in revenue, up 35.3% year over year; however, insiders sold $41.2 million of stock over the past 90 days, and the shares trade at a high P/E ratio of 249.27.

United Capital Financial Advisors LLC acquired a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,499 shares of the biotechnology company's stock, valued at approximately $1,962,000.

Several other institutional investors also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV bought a new position in shares of Axon Enterprise in the 4th quarter valued at approximately $28,000. Keating Financial Advisory Services Inc. bought a new stake in Axon Enterprise during the second quarter worth approximately $31,000. AlphaCentric Advisors LLC bought a new stake in Axon Enterprise during the fourth quarter worth approximately $34,000. Darwin Wealth Management LLC acquired a new position in Axon Enterprise during the second quarter valued at approximately $37,000. Finally, Strive Financial Group LLC bought a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $41,000. 79.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AXON has been the subject of several recent analyst reports. Piper Sandler upped their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Barclays boosted their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Morgan Stanley upped their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Needham & Company LLC reaffirmed a "buy" rating on shares of Axon Enterprise in a research report on Thursday, August 6th. Finally, Zacks Research downgraded Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and a consensus target price of $730.92.

Insider Buying and Selling

In related news, CRO Cameron Brooks sold 1,242 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the transaction, the executive owned 49,710 shares in the company, valued at $24,855,000. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. 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 value of $6,019,453.50. Following the completion of the sale, the insider directly owned 97,761 shares in the company, valued at approximately $61,266,818.70. This represents a 8.95% 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. In the last 90 days, insiders sold 76,594 shares of company stock worth $41,236,386. Insiders own 4.20% of the company's stock.

Axon Enterprise Stock Down 1.7%

Shares of AXON stock opened at $600.73 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The stock has a fifty day moving average price of $560.75 and a 200 day moving average price of $482.99. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $792.16. The stock has a market cap of $48.80 billion, a P/E ratio of 249.27, a price-to-earnings-growth ratio of 9.92 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to analysts' expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm's revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 earnings per share. Analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

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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