Axon Enterprise, Inc $AXON Stock Holdings Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 18,050.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,200,075 shares of the biotechnology company’s stock after buying an additional 13,127,348 shares during the quarter. Axon Enterprise accounts for approximately 1.1% of Envestnet Asset Management Inc.’s holdings, making the stock its 10th largest holding. Envestnet Asset Management Inc. owned about 0.16% of Axon Enterprise worth $7,400,094,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pure Financial Advisors LLC grew its holdings in Axon Enterprise by 6.7% during the 4th quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 23 shares in the last quarter. Keel Point LLC grew 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 worth $254,000 after purchasing an additional 25 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in Axon Enterprise by 4.4% in the second quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company’s stock worth $352,000 after purchasing an additional 26 shares in the last quarter. Roman Butler Fullerton & Co. increased its holdings in 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 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 first quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company’s stock valued at $225,000 after buying an additional 30 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on AXON shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $715.00 target price on shares of Axon Enterprise in a report on Thursday, August 6th. Citigroup reiterated a “market outperform” rating on shares of Axon Enterprise in a report on Thursday, September 17th. UBS Group upped their price target on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Finally, Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $721.57.

Axon Enterprise News Summary

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Chattanooga’s city council renewed its contract with Axon for five years, reinforcing the company’s recurring public-sector revenue base and customer retention. Chattanooga City Council renews five-year contract with Axon Enterprise
• Positive Sentiment: The Los Angeles Police Department approved a license-plate-reader pilot as a broader Axon technology agreement moves toward consideration by the city council. The pilot could create an opportunity for a larger contract, although approval is not yet certain. LAPD ALPR Pilot Approved as Axon Tech Deal Heads to City Council
• Neutral Sentiment: Reports that AXON gained in premarket trading and during the Nasdaq session describe market performance rather than identifying a new fundamental catalyst. Axon Enterprise stock gains 1.61 percent on Nasdaq
• Negative Sentiment: Axon and Flock executives did not attend a Senate hearing on surveillance technology after Chair Josh Hawley warned that subpoenas could be issued. The episode raises regulatory, political and reputational risks for Axon’s public-safety technology business. Flock, Axon dodge Senate hearing after invite from Chair Josh Hawley
• Negative Sentiment: Recent commentary points to margin and debt concerns, while another analysis questions whether Axon’s valuation and growth justify choosing it over ServiceNow. These concerns are especially significant given AXON’s elevated earnings multiple and recent weakness. Axon Enterprise stock slips as margins and debt pressure sentiment

Insider Buying and Selling

In other Axon Enterprise 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 value of $9,636,063.25. Following the sale, the president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer owned 3,118,012 shares in the company, valued at $1,587,036,927.88. The trade was a 0.32% 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 67,397 shares of company stock valued at $38,160,884 over the last quarter. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Performance

AXON traded down $8.71 on Wednesday, hitting $450.61. 770,373 shares of the company’s stock were exchanged, compared to its average volume of 1,054,314. The firm has a market cap of $36.61 billion, a PE ratio of 186.98, a P/E/G ratio of 8.51 and a beta of 1.40. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $789.29. The stock has a fifty day moving average of $543.84 and a two-hundred day moving average of $484.85. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 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 company had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same period in the previous year, the firm posted $2.12 earnings per share. Axon Enterprise’s quarterly revenue was up 35.3% compared to the same quarter last year. On average, research analysts anticipate that Axon Enterprise, Inc will post 2.12 earnings per share for the current fiscal year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and equipment for law enforcement, public safety and other government agencies. Its product portfolio includes TASER energy weapons, body-worn cameras, in-car cameras and related connected devices designed to support safer interactions, improve transparency and collect operational data.

The company also provides cloud-based software for managing digital evidence, conducting investigations, overseeing records and workflows, coordinating dispatch and supporting real-time public safety operations.