Apollon Wealth Management LLC Acquires 949 Shares of Axon Enterprise, Inc $AXON

Key Points

• Apollon Wealth Management LLC increased its stake in Axon Enterprise, Inc by 47% in Q2 2023, acquiring an additional 949 shares, bringing its total holdings to 2,967 shares valued at $2.46 million.
• Insiders at Axon Enterprise have sold significant amounts of stock recently, including President Joshua Isner, who sold 15,919 shares for approximately $11.88 million, and CFO Brittany Bagley, who sold 5,000 shares for about $3.57 million.
• Axon Enterprise reported a strong Q2 earnings with $2.12 EPS, exceeding analysts' expectations, and showed a 32.6% year-over-year revenue increase to $668.54 million.

Apollon Wealth Management LLC lifted its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 47.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,967 shares of the biotechnology company's stock after acquiring an additional 949 shares during the period. Apollon Wealth Management LLC's holdings in Axon Enterprise were worth $2,456,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TCI Wealth Advisors Inc. bought a new stake in Axon Enterprise in the 2nd quarter valued at about $214,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Axon Enterprise in the 1st quarter valued at about $1,110,000. Quotient Wealth Partners LLC bought a new stake in Axon Enterprise in the 1st quarter valued at about $438,000. CX Institutional bought a new stake in Axon Enterprise in the 1st quarter valued at about $115,000. Finally, GAMMA Investing LLC increased its position in Axon Enterprise by 11.8% in the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after buying an additional 154 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, President Joshua Isner sold 15,919 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $746.26, for a total value of $11,879,712.94. Following 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 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 company's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $713.88, for a total value of $3,569,400.00. Following the completion of the transaction, the chief financial officer owned 93,592 shares in the company, valued at approximately $66,813,456.96. The trade was a 5.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,932 shares of company stock valued at $45,115,616 in the last quarter. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $703.03 on Monday. Axon Enterprise, Inc has a twelve month low of $422.38 and a twelve month high of $885.91. The stock's 50 day moving average price is $755.57 and its 200-day moving average price is $714.84. The company has a market capitalization of $55.19 billion, a PE ratio of 173.59, a PEG ratio of 27.30 and a beta of 1.41. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced 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. 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 for the quarter, compared to the consensus estimate of $641.77 million. During the same quarter in the previous year, the business earned $1.20 EPS. The company'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, equities analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Zacks Research lowered Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. JMP Securities reissued a "market outperform" rating and set a $825.00 price objective on shares of Axon Enterprise in a report on Monday, September 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Axon Enterprise in a report on Wednesday, October 8th. UBS Group reissued 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. Finally, Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective for the company in a report on Tuesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Axon Enterprise currently has an average rating of "Moderate Buy" and a consensus price target of $841.64.

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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