Axon Enterprise, Inc $AXON Position Reduced by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its stake in Axon Enterprise, Inc by 14.1%, ending the quarter with $123.07 million invested, following a sale of 38,500 shares.
• Insider activity included Axon CEO Patrick W. Smith selling 10,000 shares for approximately $8.31 million, while overall, insiders have sold a total of 43,790 shares worth over $33.65 million in the last 90 days.
• Axon recently reported strong earnings, with $2.12 EPS for the quarter, surpassing estimates, and a revenue increase of 32.6% year-over-year.

1832 Asset Management L.P. lessened its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 234,000 shares of the biotechnology company's stock after selling 38,500 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.30% of Axon Enterprise worth $123,072,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC purchased a new position in Axon Enterprise during the fourth quarter worth approximately $480,000. NewEdge Advisors LLC grew its stake in shares of Axon Enterprise by 13.4% in the fourth quarter. NewEdge Advisors LLC now owns 1,626 shares of the biotechnology company's stock worth $966,000 after acquiring an additional 192 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in Axon Enterprise by 22.3% in the 4th quarter. OneDigital Investment Advisors LLC now owns 2,510 shares of the biotechnology company's stock valued at $1,492,000 after purchasing an additional 457 shares in the last quarter. Analog Century Management LP raised its holdings in shares of Axon Enterprise by 4.7% in the 4th quarter. Analog Century Management LP now owns 96,365 shares of the biotechnology company's stock valued at $57,272,000 after purchasing an additional 4,308 shares in the last quarter. Finally, Science & Technology Partners L.P. purchased a new stake in Axon Enterprise during the 4th quarter worth about $14,415,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays lifted their price target on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target for the company in a report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price objective on Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Northland Securities set a $800.00 price target on Axon Enterprise in a research report on Tuesday, August 5th. Finally, Bank of America boosted their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $837.69.

Insider Activity at Axon Enterprise

In related news, insider Jeffrey C. Kunins sold 7,891 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the transaction, the insider directly owned 144,538 shares of the company's stock, valued at approximately $108,417,953.80. The trade was a 5.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Cameron Brooks sold 3,000 shares of Axon Enterprise stock in a transaction on Friday, May 30th. The stock was sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the sale, the executive directly owned 19,447 shares in the company, valued at $14,405,559.72. This trade represents a 13.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,790 shares of company stock valued at $33,654,451 over the last 90 days. Corporate insiders own 5.70% of the company's stock.

Axon Enterprise Trading Up 0.3%

Shares of AXON traded up $2.33 during mid-day trading on Wednesday, reaching $771.35. The company had a trading volume of 148,969 shares, compared to its average volume of 698,445. The stock has a market cap of $60.55 billion, a price-to-earnings ratio of 190.46, a price-to-earnings-growth ratio of 28.02 and a beta of 1.36. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $772.54 and a 200-day simple moving average of $675.22. Axon Enterprise, Inc has a fifty-two week low of $346.71 and a fifty-two week high of $885.91.

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

Axon Enterprise Company Profile

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.