Axon Enterprise, Inc $AXON Shares Bought by Wedbush Securities Inc.

Wedbush Securities Inc. boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 4,001.7% in the third quarter, HoldingsChannel reports. The firm owned 160,664 shares of the biotechnology company’s stock after purchasing an additional 156,747 shares during the quarter. Axon Enterprise makes up approximately 1.7% of Wedbush Securities Inc.’s holdings, making the stock its 8th largest holding. Wedbush Securities Inc.’s holdings in Axon Enterprise were worth $67,884,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Axon Enterprise by 5,700.2% in the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock worth $119,724,905,000 after buying an additional 209,879,882 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Axon Enterprise by 18,050.2% during the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock valued at $7,400,094,000 after acquiring an additional 13,127,348 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Axon Enterprise by 391,214.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock valued at $2,952,943,000 after acquiring an additional 6,987,098 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Axon Enterprise by 5,022.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after acquiring an additional 4,183,302 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Axon Enterprise by 8,432.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock worth $1,983,414,000 after acquiring an additional 3,496,493 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AXON shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Raymond James Financial set a $675.00 target price on shares of Axon Enterprise in a research note on Thursday, October 15th. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Morgan Stanley raised their price target 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. Finally, Argus lifted their price target on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $689.94.

Axon Enterprise Price Performance

NASDAQ:AXON traded up $5.77 during midday trading on Friday, hitting $420.37. 844,988 shares of the stock were exchanged, compared to its average volume of 1,031,962. The company has a market capitalization of $34.15 billion, a price-to-earnings ratio of 174.43, a P/E/G ratio of 7.88 and a beta of 1.44. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $764.02. The business has a 50-day moving average price of $480.64 and a two-hundred day moving average price of $473.90.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, August 5th. 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 return on equity of 2.84% and a net margin of 6.19%. The firm had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same period last year, the company posted $2.12 EPS. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. Sell-side analysts predict that Axon Enterprise, Inc will post 2.10 EPS for the current year.

Insider Transactions at Axon Enterprise

In related news, insider Isaiah Fields sold 1,017 shares of Axon Enterprise stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the transaction, the insider directly owned 56,264 shares of the company’s stock, valued at $27,032,038.80. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 approximately $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 47,397 shares of company stock worth $26,722,984 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

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.