273,158 Shares in Axon Enterprise, Inc $AXON Purchased by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC bought a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 273,158 shares of the biotechnology company’s stock, valued at approximately $115,415,000. Axon Enterprise makes up about 5.0% of Cyndeo Wealth Partners LLC’s holdings, making the stock its largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. purchased a new stake in Axon Enterprise in the 2nd quarter worth $31,000. Wealth Enhancement Trust Services Inc. acquired a new position in Axon Enterprise during the third quarter worth $33,000. Washington Trust Advisors Inc. raised its position in Axon Enterprise by 1,300.0% during the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 65 shares during the period. Delos Wealth Advisors LLC purchased a new position in Axon Enterprise during the second quarter valued at $45,000. Finally, Owl Creek Wealth Partners LLC lifted its holdings in Axon Enterprise by 84.8% during the second quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Trading Down 6.4%

Shares of AXON opened at $390.29 on Friday. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $764.02. The firm has a market capitalization of $31.71 billion, a P/E ratio of 161.95, a P/E/G ratio of 7.85 and a beta of 1.44. The firm has a 50-day moving average price of $501.59 and a 200 day moving average price of $474.43. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping 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 company had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. During the same period in the previous year, the firm earned $2.12 earnings per share. Axon Enterprise’s quarterly revenue was up 35.3% compared to the same quarter last year. Sell-side analysts forecast that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research report on Tuesday. Citizens Jmp reissued a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a research note on Thursday, June 25th. Raymond James Financial set a $675.00 price target on shares of Axon Enterprise in a research report on Thursday. UBS Group upped their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley raised their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. One 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. Based on data from MarketBeat, Axon Enterprise presently has an average rating of “Moderate Buy” and an average price target of $718.47.

Insider Activity

In other news, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the sale, the president owned 296,974 shares of the company’s stock, valued at approximately $170,590,774.82. The trade was a 5.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider directly owned 97,761 shares in the company, valued at approximately $61,266,818.70. The trade was a 8.95% decrease in their position. The SEC filing for this sale provides additional information. 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 worth $26,722,984. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Company 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.