Axon Enterprise, Inc $AXON Stock: SeaCrest Wealth Management LLC Raises Position

SeaCrest Wealth Management LLC grew its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 3,507.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 27,666 shares of the biotechnology company’s stock after buying an additional 26,899 shares during the quarter. Axon Enterprise accounts for approximately 1.3% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 10th biggest position. SeaCrest Wealth Management LLC’s holdings in Axon Enterprise were worth $11,689,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AXON. Keating Financial Advisory Services Inc. acquired a new position in shares of Axon Enterprise during the second quarter worth about $31,000. Wealth Enhancement Trust Services Inc. purchased a new stake in shares of Axon Enterprise during the third quarter worth approximately $33,000. Washington Trust Advisors Inc. increased its stake in shares of Axon Enterprise by 1,300.0% during the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock worth $39,000 after buying an additional 65 shares during the period. Delos Wealth Advisors LLC acquired a new stake in Axon Enterprise in the second quarter valued at approximately $45,000. Finally, Owl Creek Wealth Partners LLC raised its holdings in Axon Enterprise by 84.8% in the second quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 16,775 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were 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 approximately $170,590,774.82. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 the business’s stock in a transaction that occurred 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 sale, the insider owned 56,264 shares of the company’s stock, valued at $27,032,038.80. This represents a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 47,397 shares of company stock valued at $26,722,984. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Trading Up 3.0%

AXON opened at $414.60 on Friday. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $764.02. The company has a market cap of $33.68 billion, a P/E ratio of 172.03, a PEG ratio of 7.66 and a beta of 1.44. 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 business’s 50-day simple moving average is $484.49 and its 200-day simple moving average is $474.28.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The business’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter last year, the company earned $2.12 EPS. As a group, equities research analysts expect that Axon Enterprise, Inc will post 2.10 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. UBS Group increased their price objective on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. The Goldman Sachs Group restated a “buy” rating and issued a $715.00 price objective on shares of Axon Enterprise in a report on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Finally, Piper Sandler lowered their target price on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating for the company in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $707.07.

Axon Enterprise Profile

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.