Axon Enterprise, Inc $AXON Stake Boosted by Retirement Wealth Solutions LLC

Retirement Wealth Solutions LLC increased its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 239,400.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,395 shares of the biotechnology company’s stock after buying an additional 2,394 shares during the period. Retirement Wealth Solutions LLC’s holdings in Axon Enterprise were worth $1,012,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its position in shares of Axon Enterprise by 53.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock valued at $6,542,000 after purchasing an additional 4,002 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Axon Enterprise by 122,993.6% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 461,601 shares of the biotechnology company’s stock worth $195,036,000 after purchasing an additional 461,226 shares in the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new position in Axon Enterprise during the second quarter valued at $3,854,000. Arrowstreet Capital Limited Partnership purchased a new position in Axon Enterprise during the first quarter valued at $15,067,000. Finally, Brown Lisle Cummings Inc. boosted its holdings in shares of Axon Enterprise by 97,231.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 34,066 shares of the biotechnology company’s stock valued at $19,098,000 after buying an additional 34,031 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Argus increased their price target on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, September 2nd. Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research note on Monday. Morgan Stanley lifted their target price 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. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $721.57.

Axon Enterprise Stock Down 3.0%

Shares of AXON traded down $12.62 on Wednesday, hitting $406.00. 923,057 shares of the stock traded hands, compared to its average volume of 1,053,736. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $764.02. The company has a market capitalization of $32.98 billion, a PE ratio of 168.47, a P/E/G ratio of 7.75 and a beta of 1.44. The business has a 50 day simple moving average of $525.20 and a 200 day simple moving average of $477.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million for 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% compared to the same quarter last year. During the same period last year, the business posted $2.12 EPS. As a group, equities analysts forecast that Axon Enterprise, Inc will post 2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeffrey C. Kunins sold 9,605 shares of the firm’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 of the company’s stock, valued at $61,266,818.70. This trade represents a 8.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction that occurred on 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 sale, the chief executive officer owned 3,118,012 shares of the company’s stock, valued at $1,587,036,927.88. This represents a 0.32% 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 three months, insiders sold 47,397 shares of company stock valued at $26,722,984. 4.20% of the stock is currently owned by corporate insiders.

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.