Aaron Wealth Advisors LLC Makes New Investment in Axon Enterprise, Inc $AXON

Key Points

• Aaron Wealth Advisors LLC recently acquired 351 shares of Axon Enterprise, Inc., valued at approximately $291,000, during the 2nd quarter.
• Several hedge funds have modified their holdings in Axon, increasing overall institutional ownership to 79.08% of the company's stock.
• Axon Enterprise reported strong financial results, with earnings per share of $2.12 for the last quarter, outperforming analyst estimates and achieving revenue growth of 32.6% year-over-year.

Aaron Wealth Advisors LLC purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 351 shares of the biotechnology company's stock, valued at approximately $291,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC lifted its position in shares of Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after buying an additional 24 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in Axon Enterprise during the fourth quarter worth $30,000. Bartlett & CO. Wealth Management LLC raised its position in Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 33 shares during the period. Banque Transatlantique SA purchased a new position in Axon Enterprise during the first quarter valued at $31,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Axon Enterprise in the first quarter valued at about $32,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AXON. JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Northland Securities set a $800.00 price objective on Axon Enterprise in a research note on Tuesday, August 5th. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price for the company in a report on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and issued a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Finally, JMP Securities boosted their price target on Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 22nd. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock traded up $1.39 on Monday, hitting $775.92. 406,873 shares of the company were exchanged, compared to its average volume of 491,303. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $760.48 and a 200 day moving average price of $698.43. The stock has a market capitalization of $60.91 billion, a price-to-earnings ratio of 191.59, a price-to-earnings-growth ratio of 28.43 and a beta of 1.40. Axon Enterprise, Inc has a 1-year low of $388.36 and a 1-year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS 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 firm had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. During the same quarter last year, the firm earned $1.20 earnings per share. 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. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Joshua Isner sold 15,919 shares of Axon Enterprise stock in a transaction 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 $177,892,712.54. The trade was a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brittany Bagley sold 870 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $773.25, for a total transaction of $672,727.50. Following the completion of the sale, the chief financial officer directly owned 113,022 shares of the company's stock, valued at $87,394,261.50. This represents a 0.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,932 shares of company stock worth $34,408,816. 5.70% of the stock is currently owned by company insiders.

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.