Cyndeo Wealth Partners LLC Acquires 273,158 Shares of Axon Enterprise, Inc $AXON

Cyndeo Wealth Partners LLC acquired a new position in Axon Enterprise, Inc (NASDAQ:AXON) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 273,158 shares of the biotechnology company’s stock, valued at approximately $115,415,000. Axon Enterprise accounts for 5.0% of Cyndeo Wealth Partners LLC’s portfolio, making the stock its biggest holding. Cyndeo Wealth Partners LLC owned 0.34% of Axon Enterprise as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in 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 during the period. Envestnet Asset Management Inc. boosted its holdings in Axon Enterprise by 18,050.2% in the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock valued at $7,400,094,000 after purchasing an additional 13,127,348 shares during the last quarter. BlackRock Inc. grew its position in Axon Enterprise by 4.3% during the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock worth $4,672,432,000 after purchasing an additional 345,365 shares during the period. The Manufacturers Life Insurance Company grew its position in Axon Enterprise by 8,432.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock worth $1,983,414,000 after purchasing an additional 3,496,493 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Axon Enterprise by 5,022.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after purchasing an additional 4,183,302 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AXON. Barclays lifted their price objective on Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Argus upped their target price on Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Wednesday, September 2nd. Finally, Morgan Stanley raised their target price on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $718.47.

Insider Activity

In other Axon Enterprise news, President Joshua Isner sold 16,775 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were 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 in the company, valued at approximately $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Smith sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 47,397 shares of company stock worth $26,722,984 over the last three months. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $390.29 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 company 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 firm has a market cap of $31.71 billion, a price-to-earnings ratio of 161.95, a price-to-earnings-growth ratio of 7.85 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The firm had revenue of $904.39 million for 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 firm’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.12 earnings per share. Equities research analysts forecast that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Axon Enterprise Company 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.