GDS Wealth Management Makes New Investment in Axon Enterprise, Inc $AXON

Key Points

• GDS Wealth Management acquired 12,556 shares of Axon Enterprise, Inc (NASDAQ: AXON) valued at approximately $6.6 million in the first quarter, indicating growing interest from institutional investors.
• Insider sales included CEO Patrick W. Smith, who sold 10,000 shares for approximately $8.3 million, reducing his ownership stake by 0.33%.
• Axon Enterprise reported Q2 earnings of $2.12 per share, exceeding expectations, with revenue up 32.6% year-over-year, leading to strong analyst support and a "Moderate Buy" consensus rating.

GDS Wealth Management acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,556 shares of the biotechnology company's stock, valued at approximately $6,604,000.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock valued at $4,540,005,000 after buying an additional 185,571 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock worth $487,977,000 after purchasing an additional 212,931 shares during the period. GAMMA Investing LLC increased its stake in shares of Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares during the period. Northern Trust Corp increased its stake in shares of Axon Enterprise by 1.2% during the first quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company's stock worth $381,692,000 after purchasing an additional 8,794 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Axon Enterprise by 23,203.7% during the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after purchasing an additional 611,418 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AXON. Barclays increased their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. increased their target price on Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Raymond James Financial reiterated an "outperform" rating and set a $855.00 target price (up previously from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Northland Securities set a $800.00 price objective on Axon Enterprise in a research note on Tuesday, August 5th. Finally, Bank of America raised their price objective on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Axon Enterprise presently has an average rating of "Moderate Buy" and an average target price of $837.69.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the transaction, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at approximately $2,538,744,696.78. The trade was a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey C. Kunins sold 7,891 shares of Axon Enterprise stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the transaction, the insider directly owned 144,538 shares in the company, valued at $108,417,953.80. The trade was a 5.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,790 shares of company stock worth $33,654,451 over the last 90 days. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise Price Performance

Shares of NASDAQ AXON traded up $2.73 during mid-day trading on Friday, hitting $766.24. 395,415 shares of the stock traded hands, compared to its average volume of 739,771. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. Axon Enterprise, Inc has a twelve month low of $346.71 and a twelve month high of $885.91. The company has a market cap of $60.15 billion, a PE ratio of 189.20, a price-to-earnings-growth ratio of 28.12 and a beta of 1.36. The firm has a 50 day simple moving average of $773.05 and a two-hundred day simple moving average of $674.00.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The company had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same quarter last year, the business posted $1.20 EPS. Axon Enterprise's revenue for the quarter was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.