AQR Capital Management LLC Cuts Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• AQR Capital Management LLC reduced its holdings in Axon Enterprise, Inc by 16.6%, owning 19,496 shares valued at approximately $9.99 million after selling 3,867 shares.
• Axon Enterprise recently reported a quarterly earnings per share of $2.12, significantly surpassing analyst estimates of $1.54, with revenue growth of 32.6% year-over-year.
• Thirteen analysts currently rate Axon Enterprise stock as a "Buy," with an average target price of $837.69 reflecting strong growth potential.

AQR Capital Management LLC lowered its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 16.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 19,496 shares of the biotechnology company's stock after selling 3,867 shares during the quarter. AQR Capital Management LLC's holdings in Axon Enterprise were worth $9,986,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. LaSalle St. Investment Advisors LLC raised its position in shares of Axon Enterprise by 2.1% in the first quarter. LaSalle St. Investment Advisors LLC now owns 777 shares of the biotechnology company's stock worth $408,000 after acquiring an additional 16 shares during the period. Smartleaf Asset Management LLC lifted its stake in Axon Enterprise by 5.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 379 shares of the biotechnology company's stock valued at $203,000 after buying an additional 18 shares in the last quarter. Pinion Investment Advisors LLC lifted its stake in Axon Enterprise by 3.0% in the 1st quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company's stock valued at $341,000 after buying an additional 19 shares in the last quarter. Kentucky Retirement Systems raised its holdings in Axon Enterprise by 0.4% in the 1st quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company's stock valued at $2,605,000 after acquiring an additional 19 shares during the last quarter. Finally, WCM Investment Management LLC raised its holdings in Axon Enterprise by 0.8% in the 1st quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company's stock valued at $1,306,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Buying and Selling

In other news, CAO Jennifer H. Mak sold 75 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $723.50, for a total value of $54,262.50. Following the completion of the sale, the chief accounting officer directly owned 15,080 shares of the company's stock, valued at approximately $10,910,380. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $743.64, for a total transaction of $7,436,400.00. Following the completion of the sale, the chief executive officer directly owned 3,043,982 shares of the company's stock, valued at $2,263,626,774.48. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,790 shares of company stock valued at $34,304,947 in the last quarter. Corporate insiders own 4.40% of the company's stock.

Axon Enterprise Stock Performance

AXON traded up $5.02 on Friday, reaching $756.13. The company had a trading volume of 303,694 shares, compared to its average volume of 461,020. Axon Enterprise, Inc has a 1 year low of $375.71 and a 1 year high of $885.91. The stock has a market capitalization of $59.36 billion, a PE ratio of 186.70, a P/E/G ratio of 27.57 and a beta of 1.40. 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 stock has a 50-day moving average price of $761.10 and a 200-day moving average price of $686.46.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. During the same period in the previous year, the company earned $1.20 earnings per share. 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, research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on AXON shares. Craig Hallum upgraded shares of 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. Northland Securities set a $800.00 price objective on shares of Axon Enterprise in a research report on Tuesday, August 5th. JMP Securities boosted their price target on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 22nd. Wolfe Research began coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They set an "outperform" rating for the company. Finally, Zacks Research cut shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

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.