3,944 Axon Enterprise, Inc $AXON Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. reduced its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,878 shares of the biotechnology company’s stock after selling 3,944 shares during the quarter. Congress Asset Management Co. owned approximately 0.17% of Axon Enterprise worth $56,989,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXON. MassMutual Private Wealth & Trust FSB increased its position 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 buying an additional 461,226 shares during the last quarter. GoalVest Advisory LLC bought a new position in Axon Enterprise during the third quarter worth about $256,000. QRG Capital Management Inc. increased its stake 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 in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Axon Enterprise by 16,200.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 175,067 shares of the biotechnology company’s stock worth $98,144,000 after purchasing an additional 173,993 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of 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 period. 79.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AXON has been the subject of several analyst reports. Barclays raised their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. 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. Citizens Jmp reaffirmed a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a report on Thursday, June 25th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Finally, TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and an average price target of $721.57.

Axon Enterprise Price Performance

Axon Enterprise stock traded up $6.81 during midday trading on Tuesday, reaching $418.62. 1,477,202 shares of the stock were exchanged, compared to its average volume of 1,054,419. The company’s fifty day moving average is $527.78 and its 200-day moving average is $478.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The firm has a market cap of $34.01 billion, a PE ratio of 173.70, a PEG ratio of 7.78 and a beta of 1.44. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week 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, 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 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 period last year, the firm earned $2.12 EPS. On average, sell-side analysts forecast that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey Kunins sold 9,605 shares of the business’s stock in a transaction dated 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 directly owned 97,761 shares in the company, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $480.45, for a total value of $488,617.65. Following the completion of the transaction, the insider owned 56,264 shares in the company, valued at $27,032,038.80. This represents a 1.78% decrease in their ownership of the stock. 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. 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 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.