Axon Enterprise, Inc $AXON Stock: Valley National Advisers Inc. Raises Stake

Valley National Advisers Inc. raised its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 19,672.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,411 shares of the biotechnology company’s stock after buying an additional 16,328 shares during the quarter. Axon Enterprise comprises 0.8% of Valley National Advisers Inc.’s portfolio, making the stock its 29th largest holding. Valley National Advisers Inc.’s holdings in Axon Enterprise were worth $6,934,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AXON. Keel Point LLC lifted its holdings in shares of Axon Enterprise by 4.4% in the first quarter. Keel Point LLC now owns 599 shares of the biotechnology company’s stock worth $254,000 after buying an additional 25 shares in the last quarter. Bridgewater Advisors Inc. boosted its position in shares of Axon Enterprise by 4.4% in the second quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company’s stock valued at $352,000 after acquiring an additional 26 shares during the period. Roman Butler Fullerton & Co. boosted its position in shares of Axon Enterprise by 2.4% in the first quarter. Roman Butler Fullerton & Co. now owns 1,278 shares of the biotechnology company’s stock valued at $500,000 after acquiring an additional 30 shares during the period. 44 Wealth Management LLC boosted its position in shares of Axon Enterprise by 6.0% in the first quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company’s stock valued at $225,000 after acquiring an additional 30 shares during the period. Finally, Owl Creek Wealth Partners LLC grew its stake in Axon Enterprise by 84.8% during the second quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 9,605 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. The trade was a 8.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the completion of the transaction, the president directly owned 296,974 shares of the company’s stock, valued at approximately $170,590,774.82. This represents a 5.35% 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. Over the last three months, insiders sold 47,397 shares of company stock valued at $26,722,984. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $420.37 on Friday. The business’s 50-day moving average price is $480.64 and its two-hundred day moving average price is $473.90. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $764.02. The stock has a market cap of $34.15 billion, a P/E ratio of 174.43, a PEG ratio of 7.99 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.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the previous year, the firm earned $2.12 earnings per share. Axon Enterprise’s revenue was up 35.3% on a year-over-year basis. As a group, equities analysts predict that Axon Enterprise, Inc will post 2.10 EPS for the current fiscal year.

Analyst Ratings Changes

AXON has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Raymond James Financial set a $675.00 target price on shares of Axon Enterprise in a research note on Thursday, October 15th. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, September 2nd. Argus boosted their price target on shares of Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Finally, TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $689.94.

About Axon Enterprise

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.