Avidian Wealth Enterprises LLC Buys 61,148 Shares of Axon Enterprise, Inc $AXON

Avidian Wealth Enterprises LLC grew its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 3,661.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,818 shares of the biotechnology company’s stock after acquiring an additional 61,148 shares during the quarter. Axon Enterprise comprises about 0.7% of Avidian Wealth Enterprises LLC’s investment portfolio, making the stock its 25th largest holding. Avidian Wealth Enterprises LLC’s holdings in Axon Enterprise were worth $26,542,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. State Street Corp raised 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 valued at $119,724,905,000 after buying an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Axon Enterprise by 18,050.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after buying an additional 13,127,348 shares in the last quarter. BlackRock Inc. increased its position in Axon Enterprise by 4.3% in the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock valued at $4,672,432,000 after acquiring an additional 345,365 shares during the period. The Manufacturers Life Insurance Company increased its position in Axon Enterprise by 8,432.6% in the 2nd 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 acquiring an additional 3,496,493 shares during the period. Finally, Sands Capital Management LLC raised its stake in Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after acquiring an additional 167,095 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Shares of AXON traded up $3.39 during mid-day trading on Thursday, hitting $409.39. The company’s stock had a trading volume of 399,147 shares, compared to its average volume of 1,050,204. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $764.02. The stock has a market capitalization of $33.26 billion, a price-to-earnings ratio of 169.87, a PEG ratio of 7.88 and a beta of 1.44. The firm has a 50-day moving average price of $522.70 and a 200 day moving average price of $477.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.04. The company had revenue of $904.39 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $2.12 earnings per share. On average, research analysts predict that Axon Enterprise, Inc will post 2.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Isaiah Fields sold 1,017 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the completion of the sale, the insider owned 56,264 shares in the company, valued at approximately $27,032,038.80. This represents a 1.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 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 transaction, the insider 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. Over the last 90 days, insiders sold 47,397 shares of company stock worth $26,722,984. Company insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AXON shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. Citigroup reaffirmed a “market outperform” rating on shares of Axon Enterprise in a research note on Thursday, September 17th. Argus increased their price objective on shares of Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $715.00 price objective on shares of Axon Enterprise in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and an average price target of $721.57.

Axon Enterprise 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.