Axon Enterprise, Inc (NASDAQ:AXON) Stock Holdings Trimmed by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. has reduced its holdings in Axon Enterprise by 39.0%, selling 1,333 shares and now holding 2,088 shares valued at approximately $1,098,000.
• Institutional investors own 79.08% of Axon Enterprise, with significant increases in stakes from firms like GAMMA Investing LLC and Jennison Associates LLC, raising their holdings by over 58,000% and 23,000% respectively.
• Axon Enterprise reported a quarterly earnings per share (EPS) of $2.12, exceeding estimates by $0.58, with revenue totaling $668.54 million, up 32.6% year-over-year.

Atria Wealth Solutions Inc. lessened its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 39.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,088 shares of the biotechnology company's stock after selling 1,333 shares during the period. Atria Wealth Solutions Inc.'s holdings in Axon Enterprise were worth $1,098,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of AXON. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Axon Enterprise during the 1st quarter worth about $1,110,000. Quotient Wealth Partners LLC purchased a new position in shares of Axon Enterprise during the 1st quarter worth approximately $438,000. CX Institutional purchased a new position in shares of Axon Enterprise during the 1st quarter worth approximately $115,000. GAMMA Investing LLC raised its stake in shares of Axon Enterprise by 11.8% during the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock worth $765,000 after buying an additional 154 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in Axon Enterprise by 5.1% in the 1st quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock valued at $494,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Trading Up 0.6%

Axon Enterprise stock traded up $4.41 during midday trading on Friday, reaching $754.24. The stock had a trading volume of 583,176 shares, compared to its average volume of 783,867. Axon Enterprise, Inc has a twelve month low of $346.71 and a twelve month high of $885.91. The stock has a market capitalization of $59.21 billion, a PE ratio of 186.23, a price-to-earnings-growth ratio of 27.52 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The stock's 50-day simple moving average is $773.85 and its 200 day simple moving average is $670.09.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. The company had revenue of $668.54 million for the quarter, compared to analysts' expectations of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The firm's quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on AXON. The Goldman Sachs Group raised their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research 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 research report on Tuesday, August 5th. JMP Securities raised their price target on Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley set a $885.00 price objective on Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $837.69.

Insider Buying and Selling at Axon Enterprise

In other news, insider Jeffrey C. Kunins sold 7,891 shares of Axon Enterprise stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Joshua Isner sold 15,919 shares of Axon Enterprise stock in a transaction dated 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 sale, the president directly owned 238,379 shares in the company, valued at approximately $177,892,712.54. The trade was a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,995 shares of company stock valued at $41,925,130. Company insiders own 4.40% of the company's stock.

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.