Axon Enterprise, Inc $AXON Position Increased by Peoples Financial Services CORP.

Peoples Financial Services CORP. increased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 354,360.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 35,446 shares of the biotechnology company’s stock after purchasing an additional 35,436 shares during the period. Axon Enterprise accounts for approximately 6.2% of Peoples Financial Services CORP.’s holdings, making the stock its largest position. Peoples Financial Services CORP.’s holdings in Axon Enterprise were worth $14,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pure Financial Advisors LLC grew its stake in Axon Enterprise by 6.7% in the 4th quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 23 shares during the last quarter. Keel Point LLC boosted its stake in Axon Enterprise by 4.4% in the first quarter. Keel Point LLC now owns 599 shares of the biotechnology company’s stock valued at $254,000 after buying an additional 25 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in shares of Axon Enterprise by 4.4% during the 2nd quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company’s stock valued at $352,000 after purchasing an additional 26 shares during the last quarter. Roman Butler Fullerton & Co. grew its stake in shares of Axon Enterprise by 2.4% during the first quarter. Roman Butler Fullerton & Co. now owns 1,278 shares of the biotechnology company’s stock worth $500,000 after buying an additional 30 shares during the last quarter. Finally, 44 Wealth Management LLC increased its holdings in Axon Enterprise by 6.0% in the 1st quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company’s stock worth $225,000 after purchasing an additional 30 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays upped their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $715.00 price objective on shares of Axon Enterprise in a research note on Thursday, August 6th. Piper Sandler cut their price target on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Morgan Stanley raised their target price on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. 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 company’s stock. Based on data from MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus target price of $707.07.

Insiders Place Their Bets

In other news, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction dated 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 sale, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. This trade represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 that occurred on Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction 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. The trade was a 1.78% 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. In the last quarter, insiders sold 47,397 shares of company stock worth $26,722,984. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Stock Performance

AXON stock traded up $13.28 during midday trading on Tuesday, reaching $396.37. 685,075 shares of the company’s stock traded hands, compared to its average volume of 1,050,634. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $764.02. The company has a 50-day moving average price of $497.33 and a two-hundred day moving average price of $474.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The firm has a market capitalization of $32.20 billion, a PE ratio of 164.58, a price-to-earnings-growth ratio of 7.34 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The company’s revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 earnings per share. As a group, equities analysts anticipate that Axon Enterprise, Inc will post 2.12 EPS for the current year.

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.