Integrated Wealth Concepts LLC Purchases 407,050 Shares of Axon Enterprise, Inc $AXON

Integrated Wealth Concepts LLC increased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 2,216.4% during the second quarter, Holdings Channel reports. The fund owned 425,415 shares of the biotechnology company’s stock after acquiring an additional 407,050 shares during the quarter. Axon Enterprise comprises about 1.4% of Integrated Wealth Concepts LLC’s holdings, making the stock its 7th biggest holding. Integrated Wealth Concepts LLC’s holdings in Axon Enterprise were worth $238,492,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AXON. Brighton Jones LLC acquired a new position in shares of Axon Enterprise in the 4th quarter valued at approximately $480,000. NewEdge Advisors LLC raised its position in Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after purchasing an additional 668 shares in the last quarter. Empowered Funds LLC lifted its stake in Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after purchasing an additional 157 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new position in shares of Axon Enterprise in the 2nd quarter valued at $284,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 value of $9,636,063.25. Following the completion of the sale, the president directly owned 296,974 shares in the company, valued at $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction dated 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 transaction, the insider directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 56,380 shares of company stock valued at $32,582,366. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

AXON has been the topic of several research analyst reports. Barclays lifted their target price on Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Morgan Stanley increased their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Wednesday, September 2nd. Finally, 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. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $721.57.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $505.43 on Wednesday. The firm has a market capitalization of $41.06 billion, a price-to-earnings ratio of 209.72, a PEG ratio of 10.06 and a beta of 1.40. 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’s 50-day moving average price is $568.47 and its 200-day moving average price is $487.76. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $792.16.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 4th. 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 net margin of 6.19% and a return on equity of 2.84%. The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same quarter last year, the business earned $2.12 EPS. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. Equities research analysts forecast that Axon Enterprise, Inc will post 2.04 EPS for the current year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.