Aberdeen Group plc Sells 30,896 Shares of Axon Enterprise, Inc $AXON

Key Points

• Aberdeen Group plc reduced its stake in Axon Enterprise by 23.8%, selling 30,896 shares during the second quarter, leaving it with 98,658 shares valued at approximately $81.15 million.
• Insider trading at Axon included significant sales, with Jeffrey C. Kunins and President Joshua Isner selling 7,891 and 15,919 shares, respectively, leading to decreases in their ownership of the company.
• Analysts have set new price targets for Axon Enterprise, with ratings ranging from "buy" to "hold," and an average price target of $841.64 amid a consensus rating of "Moderate Buy."

Aberdeen Group plc lowered its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 23.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,658 shares of the biotechnology company's stock after selling 30,896 shares during the quarter. Aberdeen Group plc owned about 0.13% of Axon Enterprise worth $81,154,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. TCTC Holdings LLC lifted its stake in Axon Enterprise by 75.0% in the first 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. Bartlett & CO. Wealth Management LLC lifted its stake in Axon Enterprise by 132.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after buying an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Axon Enterprise in the first quarter valued at approximately $32,000. Banque Transatlantique SA bought a new position in Axon Enterprise in the first quarter valued at approximately $31,000. Finally, Flaharty Asset Management LLC bought a new position in Axon Enterprise in the first quarter valued at approximately $33,000. Institutional investors own 79.08% of the company's stock.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total value of $5,919,039.10. Following the transaction, the insider directly owned 144,538 shares in the company, valued at $108,417,953.80. The trade was a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Joshua Isner sold 15,919 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,932 shares of company stock valued at $45,115,616. Corporate insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AXON shares. Needham & Company LLC reissued a "buy" rating and issued a $870.00 price objective on shares of Axon Enterprise in a research report on Wednesday, September 24th. JMP Securities reissued a "market outperform" rating and issued a $825.00 price objective on shares of Axon Enterprise in a research report on Monday, September 29th. Piper Sandler started coverage on shares of Axon Enterprise in a research report on Tuesday, September 23rd. They issued an "overweight" rating and a $893.00 price objective on the stock. Zacks Research lowered shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Finally, Wolfe Research started coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $841.64.

Axon Enterprise Price Performance

Shares of AXON opened at $703.03 on Friday. The company has a market cap of $55.19 billion, a price-to-earnings ratio of 173.59, a PEG ratio of 27.30 and a beta of 1.41. Axon Enterprise, Inc has a 1-year low of $422.38 and a 1-year high of $885.91. The company's fifty day simple moving average is $755.57 and its 200 day simple moving average is $713.70. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued 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. The business had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm's revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. On average, research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share 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.

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