Axon Enterprise, Inc $AXON Stock Purchased by Retirement Wealth Solutions LLC

Retirement Wealth Solutions LLC raised its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 239,400.0% in the third quarter, Holdings Channel reports. The institutional investor owned 2,395 shares of the biotechnology company’s stock after acquiring an additional 2,394 shares during the period. Retirement Wealth Solutions LLC’s holdings in Axon Enterprise were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its position in Axon Enterprise by 5,700.2% during 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 purchasing an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Axon Enterprise by 18,050.2% during the 2nd 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 during the period. The Manufacturers Life Insurance Company lifted its holdings in 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 purchasing an additional 3,496,493 shares in the last quarter. Nykredit A S purchased a new position in Axon Enterprise during the second quarter valued at approximately $698,937,000. Finally, QRG Capital Management Inc. boosted its position in shares of Axon Enterprise by 70,966.0% in the second quarter. QRG Capital Management Inc. now owns 838,579 shares of the biotechnology company’s stock worth $470,116,000 after purchasing an additional 837,399 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AXON. Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Argus increased their price target on Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Zacks Research raised Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Monday. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Finally, UBS Group upped their price objective on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $721.57.

Axon Enterprise Price Performance

NASDAQ AXON traded down $12.62 on Wednesday, reaching $406.00. The company had a trading volume of 923,057 shares, compared to its average volume of 1,053,736. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $32.98 billion, a PE ratio of 168.47, a price-to-earnings-growth ratio of 7.75 and a beta of 1.44. The firm’s 50 day moving average price is $525.20 and its 200 day moving average price is $477.86. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $764.02.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 EPS. As a group, equities analysts predict that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 16,775 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the sale, the president owned 296,974 shares of the company’s stock, valued at $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of the company’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 sale, the insider owned 97,761 shares in the company, valued at $61,266,818.70. This represents a 8.95% 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. Insiders sold a total of 47,397 shares of company stock valued at $26,722,984 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.

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.