State of Alaska Department of Revenue Buys 583,067 Shares of Axon Enterprise, Inc $AXON

State of Alaska Department of Revenue grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 7,382.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 590,965 shares of the biotechnology company’s stock after buying an additional 583,067 shares during the quarter. Axon Enterprise makes up 2.3% of State of Alaska Department of Revenue’s holdings, making the stock its 7th biggest holding. State of Alaska Department of Revenue owned approximately 0.73% of Axon Enterprise worth $249,695,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AXON. Formuepleje A S bought a new stake in Axon Enterprise during the 3rd quarter worth $284,000. Purus Wealth Management LLC increased its holdings in Axon Enterprise by 499.7% in the 3rd quarter. Purus Wealth Management LLC now owns 11,274 shares of the biotechnology company’s stock worth $4,763,000 after purchasing an additional 9,394 shares in the last quarter. Nvwm LLC increased its holdings in Axon Enterprise by 99,266.7% in the 3rd quarter. Nvwm LLC now owns 2,981 shares of the biotechnology company’s stock worth $1,260,000 after purchasing an additional 2,978 shares in the last quarter. Covenant Asset Management LLC bought a new position in Axon Enterprise in the third quarter valued at about $5,538,000. Finally, Hudock Inc. raised its position in Axon Enterprise by 2,640.5% in the third quarter. Hudock Inc. now owns 20,444 shares of the biotechnology company’s stock valued at $8,638,000 after purchasing an additional 19,698 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $715.00 price objective on shares of Axon Enterprise in a research note on Thursday, August 6th. Raymond James Financial set a $675.00 price objective on shares of Axon Enterprise in a report on Thursday. Finally, Argus lifted their target price on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $718.47.

Insider Activity

In other news, insider Jeffrey C. Kunins sold 9,605 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 97,761 shares of the company’s stock, valued at $61,266,818.70. The trade was a 8.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $574.43, for a total value of $9,636,063.25. Following the sale, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. The trade was a 5.35% decrease in their position. 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 90 days, insiders sold 47,397 shares of company stock valued at $26,722,984. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Trading Down 0.1%

Shares of Axon Enterprise stock traded down $0.42 during midday trading on Thursday, reaching $408.00. The company had a trading volume of 390,351 shares, compared to its average volume of 1,047,204. The stock has a fifty day moving average price of $507.31 and a 200 day moving average price of $475.11. 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 firm has a market cap of $33.15 billion, a PE ratio of 168.84, a P/E/G ratio of 7.78 and a beta of 1.44. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $764.02.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share 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 business had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same quarter in the prior year, the firm posted $2.12 EPS. The company’s revenue for the quarter was up 35.3% compared to the same quarter last year. On average, equities analysts anticipate that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

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.