Axon Enterprise, Inc $AXON Stock: N10 Wealth LLC Trims Position

N10 Wealth LLC decreased its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 12.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,196 shares of the biotechnology company’s stock after selling 1,778 shares during the period. Axon Enterprise accounts for 1.4% of N10 Wealth LLC’s investment portfolio, making the stock its 26th largest holding. N10 Wealth LLC’s holdings in Axon Enterprise were worth $5,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp lifted 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 valued at $119,724,905,000 after acquiring an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Axon Enterprise by 18,050.2% in 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 in the last quarter. The Manufacturers Life Insurance Company grew its holdings 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 purchasing an additional 3,496,493 shares during the last quarter. Nykredit A S purchased a new position in shares of Axon Enterprise during the second quarter worth about $698,937,000. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Axon Enterprise by 5,571.4% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 1,262,110 shares of the biotechnology company’s stock worth $533,267,000 after purchasing an additional 1,239,856 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AXON. Citizens Jmp reissued a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a report on Thursday, June 25th. The Goldman Sachs Group reissued a “buy” rating and issued a $715.00 target price on shares of Axon Enterprise in a research report on Thursday, August 6th. Citigroup restated a “market outperform” rating on shares of Axon Enterprise in a research note on Thursday, September 17th. Morgan Stanley lifted their price target on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. One equities 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.57.

Axon Enterprise Stock Performance

Axon Enterprise stock traded down $11.35 during midday trading on Wednesday, hitting $402.00. 386,623 shares of the company’s stock were exchanged, compared to its average volume of 1,047,241. 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 stock has a market cap of $32.66 billion, a price-to-earnings ratio of 166.80, a price-to-earnings-growth ratio of 7.80 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 firm’s 50 day simple moving average is $511.34 and its 200 day simple moving average is $475.41.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to analysts’ expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business’s revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.12 earnings per share. Equities research analysts predict that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Insider Buying and Selling

In related news, CEO Patrick W. 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 completion of the sale, the chief executive officer directly owned 3,118,012 shares of the company’s stock, valued at $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of Axon Enterprise stock in a transaction on Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 47,397 shares of company stock worth $26,722,984. 4.20% of the stock is currently owned by company insiders.

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.