Axon Enterprise, Inc $AXON Stock: IFP Advisors Inc Grows Holdings

IFP Advisors Inc raised its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 10,268.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 169,213 shares of the biotechnology company’s stock after purchasing an additional 167,581 shares during the quarter. Axon Enterprise comprises 1.2% of IFP Advisors Inc’s portfolio, making the stock its 7th largest holding. IFP Advisors Inc owned about 0.21% of Axon Enterprise worth $71,496,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. State Street Corp grew its holdings 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 worth $119,724,905,000 after acquiring an additional 209,879,882 shares during the period. Envestnet Asset Management Inc. raised its position 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 worth $7,400,094,000 after acquiring an additional 13,127,348 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Axon Enterprise by 5,022.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after acquiring an additional 4,183,302 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in 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 valued at $1,983,414,000 after acquiring an additional 3,496,493 shares during the last quarter. Finally, Nykredit A S acquired a new stake in Axon Enterprise in the 2nd quarter valued at about $698,937,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AXON. UBS Group raised their price objective on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. Raymond James Financial set a $675.00 target price on shares of Axon Enterprise in a report on Thursday. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Finally, Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $718.47.

Insider Activity

In other Axon Enterprise news, President Joshua Isner sold 16,775 shares of the firm’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 directly owned 296,974 shares in the company, valued at $170,590,774.82. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the firm’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 directly owned 97,761 shares of the company’s stock, valued at $61,266,818.70. This represents a 8.95% decrease in their position. 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. In the last three months, insiders have sold 47,397 shares of company stock valued at $26,722,984. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Performance

AXON opened at $390.29 on Friday. The firm has a market cap of $31.71 billion, a PE ratio of 161.95, a P/E/G ratio of 7.34 and a beta of 1.44. 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 business has a fifty day simple moving average of $501.59 and a 200-day simple moving average of $474.43. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $764.02.

Axon Enterprise (NASDAQ:AXON) last announced its 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. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The company had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same period in the previous year, the firm earned $2.12 earnings per share. Axon Enterprise’s revenue for the quarter was up 35.3% compared to the same quarter last year. As a group, equities analysts predict that Axon Enterprise, Inc will post 2.12 EPS for the current fiscal year.

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.