Farther Finance Advisors LLC Boosts Stock Position in Axon Enterprise, Inc $AXON

Farther Finance Advisors LLC increased its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 14.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,728 shares of the biotechnology company’s stock after purchasing an additional 970 shares during the quarter. Farther Finance Advisors LLC’s holdings in Axon Enterprise were worth $5,546,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vestor Capital LLC grew its holdings in Axon Enterprise by 438,636.3% during the 2nd quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock valued at $690,170,000 after buying an additional 833,409 shares in the last quarter. Norges Bank purchased a new stake in shares of Axon Enterprise in the second quarter worth about $637,806,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Axon Enterprise in the second quarter valued at approximately $255,833,000. Vanguard Group Inc. grew its stake in Axon Enterprise by 3.5% during the second quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock valued at $7,399,515,000 after acquiring an additional 305,252 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Axon Enterprise by 129.2% during the second quarter. 1832 Asset Management L.P. now owns 536,420 shares of the biotechnology company’s stock valued at $444,124,000 after acquiring an additional 302,420 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $591.02 on Wednesday. The firm has a market capitalization of $46.64 billion, a PE ratio of 187.03, a price-to-earnings-growth ratio of 137.85 and a beta of 1.40. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57. Axon Enterprise, Inc has a 12 month low of $469.24 and a 12 month high of $885.91. The business’s 50-day moving average price is $603.75 and its 200-day moving average price is $704.42.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.46). Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The firm had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. During the same period in the prior year, the company earned $1.45 EPS. The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. Sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Monday, December 8th. The shares were sold at an average price of $551.92, for a total value of $5,519,200.00. Following the transaction, the chief executive officer owned 3,110,997 shares in the company, valued at $1,717,021,464.24. This trade represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey C. Kunins sold 1,797 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $539.23, for a total transaction of $968,996.31. Following the sale, the insider owned 83,485 shares of the company’s stock, valued at approximately $45,017,616.55. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,540 shares of company stock worth $39,201,438 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AXON. Wall Street Zen cut shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Royal Bank Of Canada began coverage on shares of Axon Enterprise in a report on Monday, November 17th. They issued an “outperform” rating and a $860.00 price target on the stock. The Goldman Sachs Group dropped their price objective on Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Zacks Research cut Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, JMP Securities restated a “market outperform” rating and issued a $825.00 target price on shares of Axon Enterprise in a research note on Monday, September 29th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $802.71.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.