Axon Enterprise, Inc $AXON Holdings Lifted by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 26.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,879 shares of the biotechnology company’s stock after buying an additional 2,515 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Axon Enterprise were worth $8,525,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC bought a new stake in Axon Enterprise during the 4th quarter valued at $480,000. Axiom Investors LLC DE bought a new position in shares of Axon Enterprise in the first quarter worth $93,088,000. Hancock Whitney Corp increased its holdings in shares of Axon Enterprise by 7.6% during the first quarter. Hancock Whitney Corp now owns 424 shares of the biotechnology company’s stock valued at $223,000 after purchasing an additional 30 shares during the period. NewEdge Advisors LLC raised its stake in shares of Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after purchasing an additional 668 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its stake in shares of Axon Enterprise by 9.8% during the first quarter. UniSuper Management Pty Ltd now owns 6,453 shares of the biotechnology company’s stock valued at $3,394,000 after purchasing an additional 577 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jeffrey C. Kunins sold 1,797 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $539.23, for a total transaction of $968,996.31. Following the completion of the sale, the insider directly owned 83,485 shares of the company’s stock, valued at $45,017,616.55. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $551.92, for a total value of $5,519,200.00. Following the completion of the transaction, the chief executive officer directly owned 3,110,997 shares in the company, valued at $1,717,021,464.24. This represents a 0.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 50,540 shares of company stock worth $28,494,638. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

AXON has been the subject of a number of recent analyst reports. UBS Group decreased their target price on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $870.00 price objective on shares of Axon Enterprise in a report on Wednesday, September 24th. Morgan Stanley lowered their price objective on shares of Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Royal Bank Of Canada initiated coverage on Axon Enterprise in a report on Monday, November 17th. They set an “outperform” rating and a $860.00 target price on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $825.00 price target on shares of Axon Enterprise in a research note on Monday, September 29th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and an average target price of $802.71.

Axon Enterprise Stock Performance

Shares of AXON opened at $591.16 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89. The firm’s 50 day moving average is $582.72 and its 200-day moving average is $691.94. Axon Enterprise, Inc has a 12-month low of $469.24 and a 12-month high of $885.91. The stock has a market capitalization of $46.65 billion, a P/E ratio of 187.08, a P/E/G ratio of 17.74 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The business had revenue of $710.64 million for the quarter, compared to the consensus estimate of $704.83 million. Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The company’s quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.45 earnings per share. Equities research analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.