Private Advisory Group LLC Buys 16,426 Shares of Axon Enterprise, Inc $AXON

Private Advisory Group LLC bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the 3rd quarter, HoldingsChannel reports. The fund bought 16,426 shares of the biotechnology company’s stock, valued at approximately $6,940,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised 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 purchasing an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Axon Enterprise by 18,050.2% in the 2nd 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 in the last quarter. BlackRock Inc. boosted its holdings in Axon Enterprise by 4.3% in the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock valued at $4,672,432,000 after purchasing an additional 345,365 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Axon Enterprise by 391,214.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock worth $2,952,943,000 after purchasing an additional 6,987,098 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Axon Enterprise by 5,022.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after purchasing an additional 4,183,302 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AXON. UBS Group increased their target price on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Northland Securities set a $540.00 price target on Axon Enterprise in a report on Friday, November 6th. Argus lifted their price target on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 3rd. Finally, The Goldman Sachs Group dropped their price objective on Axon Enterprise from $715.00 to $675.00 and set a “buy” rating on the stock in a report on Monday, September 21st. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $612.18.

Axon Enterprise Price Performance

AXON stock opened at $307.11 on Friday. Axon Enterprise, Inc has a 1 year low of $291.45 and a 1 year high of $665.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.60 and a current ratio of 3.00. The stock’s 50 day moving average price is $422.24 and its 200 day moving average price is $469.16. The firm has a market cap of $25.01 billion, a P/E ratio of 98.43, a PEG ratio of 5.99 and a beta of 1.48.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Thursday, November 5th. The biotechnology company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.17). The company had revenue of $908.55 million for the quarter, compared to analyst estimates of $934.33 million. Axon Enterprise had a net margin of 7.56% and a return on equity of 3.87%. Axon Enterprise’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.17 EPS. On average, sell-side analysts expect that Axon Enterprise, Inc will post 2.10 earnings per share for the current fiscal year.

Axon Enterprise News Summary

Here’s some of the latest news about AXON:

• Negative Sentiment: Axon’s third-quarter adjusted EPS was reported below consensus, and revenue of $908.55 million also trailed estimates of $934.33 million. Revenue nevertheless grew 27.8% year over year. The earnings shortfall is a key reason for the shares’ recent weakness; Barclays has also lowered its expectations for the stock. Article: Levi & Korsinsky Investigation Notice Article: Barclays Lowers Expectations for Axon
• Negative Sentiment: Two law firms publicized investigations into potential securities-law claims related to Axon’s earnings report. These are allegations under investigation, not findings of wrongdoing, but add legal uncertainty and could keep investor attention on the earnings miss. Article: SBS Law Fraud Investigation Notice
• Negative Sentiment: A recent Seeking Alpha analysis argues hardware-related risks persist, reinforcing concerns about Axon’s growth outlook. With the stock trading at a high valuation, investor tolerance for execution or growth disappointments may be limited. Article: Axon Enterprise: Hardware Risks Persist

Insider Buying and Selling

In related news, President Joshua Isner sold 16,775 shares of the stock in a transaction 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 sale, the president owned 296,974 shares of the company’s stock, valued at $170,590,774.82. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of Axon Enterprise 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 sale, the insider owned 56,264 shares of the company’s stock, valued at approximately $27,032,038.80. This represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 37,397 shares of company stock valued at $21,234,034. 4.20% of the stock is owned by insiders.

Axon Enterprise Company Profile

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals. The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.