2,739 Shares in Axon Enterprise, Inc $AXON Purchased by Highland Capital Management LLC

Key Points

• Highland Capital Management LLC acquired 2,739 shares of Axon Enterprise, Inc, valued at approximately $2,268,000, signaling institutional interest in the company.
• Insider President Joshua Isner sold 15,919 shares for over $11.8 million, reducing his stake by 6.26%, amidst broader insider selling where a total of 49,932 shares were sold in three months.
• Axon Enterprise reported a 32.6% year-over-year revenue increase to $668.54 million and exceeded earnings estimates in its latest earnings results, attracting attention from analysts with increased price targets.

Highland Capital Management LLC bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,739 shares of the biotechnology company's stock, valued at approximately $2,268,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AXON. TCTC Holdings LLC grew its position in Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after buying an additional 24 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Axon Enterprise by 132.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 33 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Axon Enterprise in the 1st quarter worth about $31,000. Catalyst Capital Advisors LLC purchased a new position in shares of Axon Enterprise in the 1st quarter worth about $32,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Axon Enterprise in the 1st quarter worth about $33,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Axon Enterprise news, President Joshua Isner sold 15,919 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the transaction, the president owned 238,379 shares in the company, valued at approximately $177,892,712.54. This represents a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey C. Kunins sold 7,891 shares of the company'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 value of $5,919,039.10. Following the transaction, the insider owned 144,538 shares in the company, valued at $108,417,953.80. This trade represents a 5.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,932 shares of company stock worth $37,978,216. Company insiders own 4.40% of the company's stock.

Axon Enterprise Trading Down 0.7%

AXON opened at $715.51 on Friday. The business has a 50 day simple moving average of $757.79 and a two-hundred day simple moving average of $708.33. The firm has a market capitalization of $56.17 billion, a price-to-earnings ratio of 176.67, a PEG ratio of 27.78 and a beta of 1.41. 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 one year low of $413.68 and a one year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The firm had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same quarter in the prior year, the business earned $1.20 EPS. The business'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. Analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AXON. Bank of America upped their price objective on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Northland Securities set a $800.00 price objective on Axon Enterprise in a report on Tuesday, August 5th. Needham & Company LLC reiterated a "buy" rating and issued a $870.00 price objective on shares of Axon Enterprise in a report on Wednesday, September 24th. Wolfe Research began coverage on Axon Enterprise in a report on Monday, July 7th. They issued an "outperform" rating for the company. Finally, Zacks Research cut Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $841.64.

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.

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