Axon Enterprise, Inc $AXON Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 18,050.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,200,075 shares of the biotechnology company’s stock after buying an additional 13,127,348 shares during the period. Axon Enterprise accounts for approximately 1.1% of Envestnet Asset Management Inc.’s portfolio, making the stock its 10th largest holding. Envestnet Asset Management Inc. owned approximately 16.25% of Axon Enterprise worth $7,400,094,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Andra AP fonden raised its holdings in Axon Enterprise by 2,618.4% in the 2nd quarter. Andra AP fonden now owns 548,469 shares of the biotechnology company’s stock valued at $307,477,000 after acquiring an additional 528,293 shares during the last quarter. State Street Corp boosted its holdings in shares of Axon Enterprise by 5,700.2% during the second 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 during the last quarter. Bouchey Financial Group Ltd. acquired a new stake in shares of Axon Enterprise during the second quarter worth $215,000. The Manufacturers Life Insurance Company grew its position in shares of Axon Enterprise by 8,432.6% in the second 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 purchasing an additional 3,496,493 shares during the period. Finally, Barbara Oil Co. grew its position in shares of Axon Enterprise by 100.0% in the second quarter. Barbara Oil Co. now owns 3,390 shares of the biotechnology company’s stock valued at $2,046,000 after purchasing an additional 1,695 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

More Axon Enterprise News

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Chattanooga’s city council renewed its contract with Axon for five years, reinforcing the company’s recurring public-sector revenue base and customer retention. Chattanooga City Council renews five-year contract with Axon Enterprise
• Positive Sentiment: The Los Angeles Police Department approved a license-plate-reader pilot as a broader Axon technology agreement moves toward consideration by the city council. The pilot could create an opportunity for a larger contract, although approval is not yet certain. LAPD ALPR Pilot Approved as Axon Tech Deal Heads to City Council
• Neutral Sentiment: Reports that AXON gained in premarket trading and during the Nasdaq session describe market performance rather than identifying a new fundamental catalyst. Axon Enterprise stock gains 1.61 percent on Nasdaq
• Negative Sentiment: Axon and Flock executives did not attend a Senate hearing on surveillance technology after Chair Josh Hawley warned that subpoenas could be issued. The episode raises regulatory, political and reputational risks for Axon’s public-safety technology business. Flock, Axon dodge Senate hearing after invite from Chair Josh Hawley
• Negative Sentiment: Recent commentary points to margin and debt concerns, while another analysis questions whether Axon’s valuation and growth justify choosing it over ServiceNow. These concerns are especially significant given AXON’s elevated earnings multiple and recent weakness. Axon Enterprise stock slips as margins and debt pressure sentiment

Axon Enterprise Trading Down 1.9%

Axon Enterprise stock traded down $8.71 during midday trading on Wednesday, reaching $450.61. The stock had a trading volume of 770,373 shares, compared to its average volume of 1,054,314. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $789.29. The stock has a market capitalization of $36.61 billion, a PE ratio of 186.98, a price-to-earnings-growth ratio of 8.51 and a beta of 1.40. 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’s 50-day simple moving average is $543.84 and its 200 day simple moving average is $484.85.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. The company had revenue of $904.39 million during the quarter, compared to analyst estimates 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 was up 35.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.12 earnings per share. Analysts expect that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the transaction, the president directly owned 296,974 shares of the company’s stock, valued at $170,590,774.82. The trade was a 5.35% decrease in their ownership of the stock. The sale 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 business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following 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. 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. Over the last ninety days, insiders have sold 67,397 shares of company stock worth $38,160,884. 4.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on AXON. Citizens Jmp reiterated a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a research report on Thursday, June 25th. Citigroup restated a “market outperform” rating on shares of Axon Enterprise in a report on Thursday, September 17th. Piper Sandler increased their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. UBS Group raised their target price on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Finally, Barclays boosted their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and an average target price of $721.57.

About Axon Enterprise

Axon Enterprise, Inc develops technology and equipment for law enforcement, public safety and other government agencies. Its product portfolio includes TASER energy weapons, body-worn cameras, in-car cameras and related connected devices designed to support safer interactions, improve transparency and collect operational data.

The company also provides cloud-based software for managing digital evidence, conducting investigations, overseeing records and workflows, coordinating dispatch and supporting real-time public safety operations.