Axon Enterprise, Inc $AXON Stock Holdings Trimmed by Aberdeen Group plc

Key Points

• Aberdeen Group plc significantly reduced its stake in Axon Enterprise, Inc by 50% during the first quarter, now owning approximately 0.17% of the company valued at $67 million.
• Insider selling has been notable with Director Michael Garnreiter and President Joshua Isner selling substantial shares, decreasing their respective ownerships by 25% and 6.26% recently.
• Analysts remain optimistic with a consensus rating of "Moderate Buy" for Axon, and recent price targets have been set as high as $870.00 by Needham & Company LLC.

Aberdeen Group plc decreased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 50.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,554 shares of the biotechnology company's stock after selling 129,662 shares during the period. Aberdeen Group plc owned approximately 0.17% of Axon Enterprise worth $67,051,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AXON. Brighton Jones LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter worth about $480,000. Townsquare Capital LLC boosted its position in shares of Axon Enterprise by 40.0% in the fourth quarter. Townsquare Capital LLC now owns 913 shares of the biotechnology company's stock worth $542,000 after buying an additional 261 shares during the period. United Capital Financial Advisors LLC boosted its position in shares of Axon Enterprise by 22.7% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,185 shares of the biotechnology company's stock worth $704,000 after buying an additional 219 shares during the period. NewEdge Advisors LLC boosted its position 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 buying an additional 192 shares during the period. Finally, First Commonwealth Financial Corp PA purchased a new stake in shares of Axon Enterprise in the fourth quarter worth about $273,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Performance

NASDAQ:AXON traded up $0.61 during trading hours on Wednesday, reaching $758.90. 260,272 shares of the stock were exchanged, compared to its average volume of 709,330. 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 firm has a 50 day simple moving average of $773.92 and a 200-day simple moving average of $671.99. Axon Enterprise, Inc has a 52 week low of $346.71 and a 52 week high of $885.91. The stock has a market capitalization of $59.57 billion, a P/E ratio of 187.38, a P/E/G ratio of 29.05 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS 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 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 quarterly revenue was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AXON has been the subject of a number of analyst reports. Northland Securities set a $800.00 price target on Axon Enterprise in a report on Tuesday, August 5th. JMP Securities increased their price target on Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group increased their price target on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Craig Hallum raised 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. Finally, Raymond James Financial reissued an "outperform" rating and issued a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $837.69.

Insider Activity

In related news, CRO Cameron Brooks sold 3,000 shares of the company's 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 completion of the transaction, the executive directly owned 19,447 shares in the company, valued at $14,405,559.72. This represents a 13.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey C. Kunins sold 7,891 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $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 sold 43,790 shares of company stock worth $33,654,451 over the last 90 days. Insiders own 5.70% of the company's stock.

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.