Axon Enterprise, Inc $AXON Stock Acquired by Armstrong Advisory Group Inc.

Armstrong Advisory Group Inc. raised its stake in Axon Enterprise, Inc (NASDAQ:AXON – Free Report) by 4,439.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,819 shares of the biotechnology company’s stock after buying an additional 34,052 shares during the period. Axon Enterprise comprises about 0.9% of Armstrong Advisory Group Inc.’s investment portfolio, making the stock its 20th biggest position. Armstrong Advisory Group Inc.’s holdings in Axon Enterprise were worth $14,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Axon’s Post-Earnings Pullback May Be More About Valuation Than Growth

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Axon Enterprise by 5,700.2% during the 2nd 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 in 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 worth $7,400,094,000 after buying an additional 13,127,348 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in 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 worth $1,983,414,000 after buying an additional 3,496,493 shares in the last quarter. Nykredit A S bought a new position in Axon Enterprise during the second quarter valued at approximately $698,937,000. Finally, Mn Services Vermogensbeheer B.V. grew its position in 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 valued at $533,267,000 after acquiring an additional 1,239,856 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

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Insider Activity

In related news, insider Jeffrey Kunins sold 9,605 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the sale, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The sale 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, CEO Patrick Smith sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 3,118,012 shares of the company’s stock, valued at approximately $1,587,036,927.88. The trade was a 0.32% 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 47,397 shares of company stock worth $26,722,984 over the last three months. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Price Performance

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Shares of NASDAQ:AXON opened at $422.89 on Friday. The business has a fifty day moving average price of $518.44 and a 200-day moving average price of $476.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The company has a market capitalization of $34.36 billion, a PE ratio of 175.47, a PEG ratio of 7.86 and a beta of 1.44. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $764.02.

Axon Enterprise (NASDAQ:AXON – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 EPS. As a group, equities analysts expect that Axon Enterprise, Inc will post 2.12 EPS for the current fiscal year.

Analyst Ratings Changes

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A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $715.00 price objective on shares of Axon Enterprise in a report on Thursday, August 6th. Citigroup reaffirmed a “market outperform” rating on shares of Axon Enterprise in a report on Thursday, September 17th. Piper Sandler lifted their target price on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. Finally, UBS Group upped their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $721.57.

Check Out Our Latest Report on AXON

Axon Enterprise Company Profile

(Free Report)

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.

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