Verity Asset Management Inc. Makes New $618,000 Investment in Axon Enterprise, Inc $AXON

Verity Asset Management Inc. purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,462 shares of the biotechnology company’s stock, valued at approximately $618,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXON. Rakuten Investment Management Inc. boosted its stake in Axon Enterprise by 11.2% in the 3rd quarter. Rakuten Investment Management Inc. now owns 21,325 shares of the biotechnology company’s stock worth $8,948,000 after purchasing an additional 2,148 shares during the period. Provenance Wealth Advisors LLC bought a new stake in shares of Axon Enterprise during the third quarter valued at about $236,000. Putney Financial Group LLC bought a new stake in shares of Axon Enterprise during the third quarter valued at about $36,000. Integrity Alliance LLC. bought a new stake in shares of Axon Enterprise during the third quarter valued at about $568,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Axon Enterprise by 0.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 9,987 shares of the biotechnology company’s stock worth $4,220,000 after buying an additional 48 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Insider Activity at Axon Enterprise

In related news, CEO Patrick Smith sold 10,000 shares of the firm’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 sale, the chief executive officer directly owned 3,118,012 shares of the company’s stock, valued at $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of Axon Enterprise stock in a transaction that occurred on 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 approximately $61,266,818.70. The trade was a 8.95% 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. Insiders have sold a total of 47,397 shares of company stock valued at $26,722,984 in the last ninety days. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $424.18 on Thursday. The stock’s 50-day simple moving average is $451.99 and its two-hundred day simple moving average is $478.00. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $665.07. The firm has a market capitalization of $34.46 billion, a P/E ratio of 176.01, a P/E/G ratio of 7.92 and a beta of 1.48. 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 results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same quarter last year, the company posted $2.12 EPS. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. As a group, equities analysts anticipate that Axon Enterprise, Inc will post 2.10 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AXON. Morgan Stanley raised their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. UBS Group upped their target price on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Piper Sandler lowered their target price on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 20th. Finally, Barclays raised their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $688.38.

Axon Enterprise Profile

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.