Triumph Capital Management grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON – Free Report) by 4,592.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,906 shares of the biotechnology company’s stock after acquiring an additional 15,567 shares during the period. Axon Enterprise comprises approximately 1.2% of Triumph Capital Management’s holdings, making the stock its 12th biggest position. Triumph Capital Management’s holdings in Axon Enterprise were worth $6,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of the business. Keating Financial Advisory Services Inc. acquired a new stake in Axon Enterprise during the second quarter worth about $31,000. Washington Trust Advisors Inc. boosted its stake in Axon Enterprise by 1,300.0% in the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 65 shares during the period. Wealth Enhancement Trust Services Inc. acquired a new position in Axon Enterprise in the third quarter valued at approximately $33,000. Delos Wealth Advisors LLC acquired a new position in Axon Enterprise in the second quarter valued at approximately $45,000. Finally, Owl Creek Wealth Partners LLC boosted its stake in Axon Enterprise by 84.8% in the second quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 39 shares during the period. Institutional investors own 79.08% of the company’s stock.
Analysts Set New Price Targets
AXON has been the subject of several recent research reports. Citizens Jmp reaffirmed a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a report on Thursday, June 25th. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Tuesday. Piper Sandler boosted their price objective on Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Morgan Stanley upped their price objective on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $721.57.
Insiders Place Their Bets
In related news, insider Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the transaction, the insider directly owned 97,761 shares of the company’s stock, valued at $61,266,818.70. This represents a 8.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total value of $5,089,900.00. Following the completion of the sale, the chief executive officer owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This represents a 0.32% 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. In the last ninety days, insiders have sold 47,397 shares of company stock valued at $26,722,984. Corporate insiders own 4.20% of the company’s stock.
Axon Enterprise Stock Performance
Shares of AXON stock traded down $4.93 during trading hours on Wednesday, reaching $408.42. The stock had a trading volume of 1,038,261 shares, compared to its average volume of 1,050,676. The firm has a market capitalization of $33.18 billion, a PE ratio of 169.47, a price-to-earnings-growth ratio of 7.80 and a beta of 1.44. The firm has a 50-day simple moving average of $511.34 and a 200-day simple moving average of $475.41. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $764.02. 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 – Get Free Report) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same period in the previous year, the business posted $2.12 EPS. Axon Enterprise’s revenue was up 35.3% on a year-over-year basis. As a group, equities analysts forecast that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.
About Axon Enterprise
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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