Axon Enterprise, Inc $AXON Stock Holdings Increased by IFP Advisors Inc

IFP Advisors Inc increased its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 10,268.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,213 shares of the biotechnology company’s stock after purchasing an additional 167,581 shares during the period. Axon Enterprise makes up 1.2% of IFP Advisors Inc’s investment portfolio, making the stock its 7th biggest holding. IFP Advisors Inc’s holdings in Axon Enterprise were worth $71,496,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Robertson Stephens Wealth Management LLC raised its position in shares of Axon Enterprise by 46.0% in the third quarter. Robertson Stephens Wealth Management LLC now owns 30,432 shares of the biotechnology company’s stock valued at $12,858,000 after purchasing an additional 9,582 shares during the period. Frank Rimerman Advisors LLC lifted its position in shares of Axon Enterprise by 19,294.9% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 103,569 shares of the biotechnology company’s stock worth $43,760,000 after purchasing an additional 103,035 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in Axon Enterprise by 11,217.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 895,780 shares of the biotechnology company’s stock valued at $378,485,000 after purchasing an additional 887,865 shares during the period. Banque Pictet & Cie SA bought a new stake in Axon Enterprise during the 3rd quarter valued at approximately $308,000. Finally, Cyndeo Wealth Partners LLC acquired a new stake in Axon Enterprise in the 3rd quarter valued at approximately $115,415,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Buying and Selling

In other Axon Enterprise news, CEO Patrick Smith sold 10,000 shares of Axon Enterprise 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 sale, the chief executive officer directly owned 3,118,012 shares of the company’s stock, valued at approximately $1,587,036,927.88. The trade was a 0.32% 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, President Joshua Isner sold 16,775 shares of the company’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 value of $9,636,063.25. Following the completion of the sale, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. 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. Insiders sold a total of 47,397 shares of company stock valued at $26,722,984 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Zacks Research raised Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Raymond James Financial set a $675.00 price objective on shares of Axon Enterprise in a research report on Thursday. Citigroup restated a “market outperform” rating on shares of Axon Enterprise in a research report on Thursday, September 17th. Argus upped their target price on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Finally, Barclays upped their target price on Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. One research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $718.47.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $390.29 on Friday. 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 company has a 50-day moving average of $501.59 and a 200-day moving average of $474.43. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $764.02. The company has a market capitalization of $31.71 billion, a price-to-earnings ratio of 161.95, a PEG ratio of 7.34 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share 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 for the quarter, compared to analysts’ expectations of $876.42 million. During the same quarter in the previous year, the firm posted $2.12 earnings per share. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. As a group, equities research analysts anticipate that Axon Enterprise, Inc will post 2.12 earnings per share for the current fiscal year.

About Axon Enterprise

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.