Axon Enterprise, Inc $AXON Stock Position Boosted by Valley National Advisers Inc.

Valley National Advisers Inc. lifted its position in Axon Enterprise, Inc (NASDAQ:AXON) by 19,672.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,411 shares of the biotechnology company’s stock after purchasing an additional 16,328 shares during the quarter. Axon Enterprise accounts for about 0.8% of Valley National Advisers Inc.’s holdings, making the stock its 29th largest holding. Valley National Advisers Inc.’s holdings in Axon Enterprise were worth $6,934,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Keel Point LLC raised its holdings in shares of Axon Enterprise by 4.4% during the 1st 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. lifted its position in Axon Enterprise by 4.4% in the 2nd quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company’s stock worth $352,000 after buying an additional 26 shares during the last quarter. Roman Butler Fullerton & Co. boosted its stake 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 worth $500,000 after buying an additional 30 shares in the last quarter. 44 Wealth Management LLC boosted its stake in Axon Enterprise by 6.0% in the first quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company’s stock worth $225,000 after buying an additional 30 shares in the last quarter. Finally, Owl Creek Wealth Partners LLC grew its position in Axon Enterprise by 84.8% during 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 during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on AXON shares. Argus lifted their price target on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. UBS Group boosted their price objective on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Morgan Stanley upped their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. The Goldman Sachs Group reduced their target price on shares of Axon Enterprise from $715.00 to $675.00 and set a “buy” rating on the stock in a report on Monday, September 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $689.94.

Axon Enterprise Trading Up 1.4%

NASDAQ AXON opened at $420.37 on Friday. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $764.02. 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 stock has a 50-day moving average of $480.64 and a 200-day moving average of $473.90. The firm has a market cap of $34.15 billion, a PE ratio of 174.43, a price-to-earnings-growth ratio of 7.99 and a beta of 1.44.

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, beating the consensus estimate 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 analysts’ expectations of $876.42 million. During the same period in the prior year, the business posted $2.12 EPS. Axon Enterprise’s quarterly revenue was up 35.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Axon Enterprise, Inc will post 2.10 EPS for the current year.

Insider Buying and Selling

In other news, insider Isaiah Fields sold 1,017 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the transaction, the insider owned 56,264 shares in the company, valued at approximately $27,032,038.80. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 that occurred on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the transaction, the chief executive officer owned 3,118,012 shares in the company, valued at $1,587,036,927.88. This represents a 0.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 47,397 shares of company stock worth $26,722,984. Company insiders own 4.20% of the company’s stock.

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.