Adage Capital Partners GP L.L.C. Sells 1,600 Shares of Axon Enterprise, Inc $AXON

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Axon Enterprise by 2.4%, now owning 66,100 shares valued at approximately $34.77 million.
• Analysts have raised price targets for Axon Enterprise, with Bank of America setting a new target at $1,000 and several firms assigning "buy" ratings.
• Insiders have sold 34,865 shares of Axon stock in the last quarter, with significant sales by CAO Jennifer H. Mak and President Joshua Isner, both reducing their positions.

Adage Capital Partners GP L.L.C. lowered its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 2.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 66,100 shares of the biotechnology company's stock after selling 1,600 shares during the period. Adage Capital Partners GP L.L.C. owned 0.08% of Axon Enterprise worth $34,765,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in AXON. Brighton Jones LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $480,000. Aptus Capital Advisors LLC bought a new stake in shares of Axon Enterprise in the fourth quarter worth $445,000. Captrust Financial Advisors boosted its position in Axon Enterprise by 19.5% during the fourth quarter. Captrust Financial Advisors now owns 14,821 shares of the biotechnology company's stock valued at $8,809,000 after acquiring an additional 2,415 shares during the last quarter. Bridgeway Capital Management LLC bought a new stake in Axon Enterprise during the fourth quarter valued at $3,506,000. Finally, Cetera Investment Advisers boosted its position in Axon Enterprise by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 23,009 shares of the biotechnology company's stock valued at $13,675,000 after acquiring an additional 236 shares during the last quarter. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Down 1.9%

Shares of AXON traded down $13.71 on Tuesday, reaching $726.90. The company's stock had a trading volume of 116,626 shares, compared to its average volume of 688,885. 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, Inc has a twelve month low of $353.91 and a twelve month high of $885.91. The stock has a market capitalization of $57.06 billion, a PE ratio of 179.48, a PEG ratio of 26.73 and a beta of 1.40. The firm has a fifty day moving average of $764.18 and a 200-day moving average of $682.14.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.54 by $0.58. The firm had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The company's revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. Equities analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $831.29, for a total value of $8,312,900.00. Following the completion of the transaction, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. This trade represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey C. Kunins sold 7,891 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the completion of the transaction, the insider directly 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. Over the last 90 days, insiders sold 34,865 shares of company stock worth $26,926,433. 5.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AXON. Zacks Research cut shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Needham & Company LLC set a $870.00 price objective on shares of Axon Enterprise and gave the company a "buy" rating in a report on Tuesday, August 5th. Raymond James Financial reiterated an "outperform" rating and set a $855.00 price objective (up previously from $645.00) 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. Finally, The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

About Axon Enterprise

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.