Axon Enterprise, Inc $AXON Stock Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in Axon Enterprise, Inc (NASDAQ:AXON) by 7,382.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 590,965 shares of the biotechnology company’s stock after buying an additional 583,067 shares during the period. Axon Enterprise accounts for approximately 2.3% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 7th biggest holding. State of Alaska Department of Revenue’s holdings in Axon Enterprise were worth $249,695,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. bought a new stake in shares of Axon Enterprise during the second quarter valued at approximately $31,000. Wealth Enhancement Trust Services Inc. acquired a new position in shares of Axon Enterprise during the third quarter worth approximately $33,000. Washington Trust Advisors Inc. lifted its holdings in shares of Axon Enterprise by 1,300.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 65 shares in the last quarter. Delos Wealth Advisors LLC bought a new position in shares of Axon Enterprise in the 2nd quarter worth $45,000. Finally, Owl Creek Wealth Partners LLC lifted its holdings in shares of Axon Enterprise by 84.8% in the 2nd quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 39 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

Shares of AXON stock traded down $0.42 during trading on Thursday, hitting $408.00. The company’s stock had a trading volume of 390,351 shares, compared to its average volume of 1,047,204. The company has a market cap of $33.15 billion, a PE ratio of 168.84, a P/E/G ratio of 7.78 and a beta of 1.44. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $507.31 and a 200-day moving average of $475.11. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $764.02.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 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 business had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same period last year, the company posted $2.12 earnings per share. Axon Enterprise’s quarterly revenue was up 35.3% compared to the same quarter last year. As a group, research analysts anticipate that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. The Goldman Sachs Group restated a “buy” rating and set a $715.00 price objective on shares of Axon Enterprise in a report on Thursday, August 6th. Barclays raised their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Piper Sandler lifted their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Raymond James Financial set a $675.00 price objective on shares of Axon Enterprise in a report on Thursday. One equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $718.47.

Insiders Place Their Bets

In other news, insider Isaiah Fields sold 1,017 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the sale, the insider directly owned 56,264 shares of the company’s stock, valued at $27,032,038.80. This trade represents a 1.78% decrease in their position. 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 on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the sale, the insider 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 47,397 shares of company stock valued at $26,722,984. 4.20% of the stock is owned by company insiders.

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.