Axon Enterprise, Inc $AXON Holdings Boosted by CoreCap Advisors LLC

CoreCap Advisors LLC lifted its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 1,803.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,049 shares of the biotechnology company’s stock after acquiring an additional 25,628 shares during the period. CoreCap Advisors LLC’s holdings in Axon Enterprise were worth $11,429,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. State Street Corp lifted its holdings in Axon Enterprise by 5,700.2% in the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock worth $119,724,905,000 after purchasing an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Axon Enterprise by 18,050.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after purchasing an additional 13,127,348 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Axon Enterprise by 8,432.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock valued at $1,983,414,000 after buying an additional 3,496,493 shares in the last quarter. Nykredit A S bought a new stake in shares of Axon Enterprise during the second quarter valued at approximately $698,937,000. Finally, QRG Capital Management Inc. raised its position in shares of Axon Enterprise by 70,966.0% during the second quarter. QRG Capital Management Inc. now owns 838,579 shares of the biotechnology company’s stock valued at $470,116,000 after buying an additional 837,399 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Buying and Selling

In related news, CEO Patrick Smith sold 10,000 shares of the stock in a transaction 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 sale, the chief executive officer owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This represents a 0.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. This represents 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. In the last quarter, insiders sold 47,397 shares of company stock worth $26,722,984. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AXON has been the topic of several research analyst reports. Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. UBS Group boosted their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Finally, TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $721.57.

Axon Enterprise Trading Up 2.8%

AXON traded up $11.31 on Thursday, hitting $417.31. The company had a trading volume of 1,570,770 shares, compared to its average volume of 1,056,396. The company has a market cap of $33.90 billion, a PE ratio of 173.16, a PEG ratio of 7.88 and a beta of 1.44. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $764.02. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $522.70 and its 200 day simple moving average is $477.18.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data 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 company 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 firm’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 earnings per share. Equities research analysts expect that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and connected systems for public safety and law enforcement agencies. Its product portfolio includes TASER conducted energy weapons, body-worn cameras, in-car cameras and other recording devices designed to support safer interactions, improve accountability and document incidents.

The company also provides cloud-based software for managing digital evidence, reports, records and agency operations. Its Axon platform connects hardware with services such as evidence management, real-time operations, computer-aided dispatch and other workflow tools, enabling agencies to store, organize and share information across their organizations.

Founded in 1993 as AIR TASER by Rick Smith and Tom Smith, the company later operated as TASER International before adopting the name Axon Enterprise in 2017.