13,108 Shares in Axon Enterprise, Inc $AXON Acquired by Covenant Asset Management LLC

Covenant Asset Management LLC purchased a new position in Axon Enterprise, Inc (NASDAQ:AXON) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,108 shares of the biotechnology company’s stock, valued at approximately $5,538,000.

Several other large investors have also added to or reduced their stakes in the stock. State Street Corp increased its position in Axon Enterprise by 5,700.2% during the 2nd 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. lifted its position in shares of Axon Enterprise by 18,050.2% in 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 purchasing an additional 13,127,348 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Axon Enterprise by 8,432.6% in 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. Nykredit A S bought a new stake in shares of Axon Enterprise during the 2nd quarter valued at about $698,937,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Axon Enterprise by 5,571.4% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 1,262,110 shares of the biotechnology company’s stock valued at $533,267,000 after purchasing an additional 1,239,856 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Down 1.2%

NASDAQ AXON opened at $408.42 on Thursday. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $764.02. The stock has a market cap of $33.18 billion, a P/E ratio of 169.47, a P/E/G ratio of 7.78 and a beta of 1.44. The stock’s fifty day moving average price is $507.31 and its 200-day moving average price is $475.11. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The company’s revenue was up 35.3% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share. As a group, equities analysts forecast that Axon Enterprise, Inc will post 2.12 EPS for the current fiscal year.

Insider Activity

In related news, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total value of $5,089,900.00. Following the completion of the transaction, the chief executive officer directly owned 3,118,012 shares in the company, valued at $1,587,036,927.88. The trade was a 0.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. 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 have sold a total of 47,397 shares of company stock valued at $26,722,984 in the last quarter. 4.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AXON shares. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research note on Tuesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $715.00 price objective on shares of Axon Enterprise in a research report on Thursday, August 6th. Barclays lifted their price objective on Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Zacks Research upgraded Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Piper Sandler increased their target price on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average price target of $721.57.

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.