417 Shares in Axon Enterprise, Inc $AXON Bought by Hilltop National Bank

Key Points

• Hilltop National Bank acquired 417 shares of Axon Enterprise, Inc, valued at approximately $345,000, during the second quarter, indicating growing institutional interest in the company.
• In recent insider activity, Director Jeri Williams and CFO Brittany Bagley sold shares amounting to over $3.6 million, reflecting a 6.60% and 5.07% decrease in their ownership, respectively.
• Axon Enterprise recently reported a 32.6% year-over-year revenue increase, totaling $668.54 million for the quarter, and surpassed earnings expectations with $2.12 EPS compared to a consensus estimate of $1.54.

Hilltop National Bank purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 417 shares of the biotechnology company's stock, valued at approximately $345,000.

A number of other hedge funds have also recently added to or reduced their stakes in AXON. TCI Wealth Advisors Inc. purchased a new position in Axon Enterprise during the second quarter valued at $214,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Axon Enterprise during the first quarter valued at $1,110,000. Quotient Wealth Partners LLC purchased a new position in Axon Enterprise during the first quarter valued at $438,000. CX Institutional purchased a new position in Axon Enterprise during the first quarter valued at $115,000. Finally, GAMMA Investing LLC lifted its holdings in Axon Enterprise by 11.8% during the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after purchasing an additional 154 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jeri Williams sold 100 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $752.54, for a total transaction of $75,254.00. Following the completion of the sale, the director directly owned 1,416 shares in the company, valued at approximately $1,065,596.64. This trade represents a 6.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brittany Bagley sold 5,000 shares of the firm's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the sale, the chief financial officer owned 93,592 shares of the company's stock, valued at approximately $66,813,456.96. The trade was a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,932 shares of company stock valued at $37,978,216 in the last quarter. Insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

AXON has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Axon Enterprise in a report on Saturday, September 27th. UBS Group reaffirmed a "neutral" rating and set a $840.00 price objective (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Morgan Stanley set a $885.00 price objective on shares of Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $870.00 price objective on shares of Axon Enterprise in a report on Wednesday, September 24th. Finally, Bank of America raised their price target on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $841.64.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $715.51 on Friday. The company's 50-day moving average price is $757.79 and its 200-day moving average price is $707.36. 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 company has a market cap of $56.17 billion, a P/E ratio of 176.67, a P/E/G ratio of 27.98 and a beta of 1.41. Axon Enterprise, Inc has a twelve month low of $413.68 and a twelve month 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. During the same period last year, the business earned $1.20 earnings per share. Axon Enterprise's revenue was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Axon Enterprise 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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