Axiom Investors LLC DE Invests $93.09 Million in Axon Enterprise, Inc $AXON

Key Points

• Axiom Investors LLC DE has acquired a new stake in Axon Enterprise, purchasing 176,991 shares valued at approximately $93 million in the first quarter of 2023.
• Axon Enterprise reported strong quarterly earnings with $2.12 earnings per share, exceeding analysts' estimates of $1.54, and achieved a year-over-year revenue growth of 32.6%.
• Hedge funds and institutional investors now own 79.08% of Axon Enterprise, reflecting significant interest from major financial players in the company's stock.

Axiom Investors LLC DE purchased a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 176,991 shares of the biotechnology company's stock, valued at approximately $93,088,000. Axiom Investors LLC DE owned about 0.23% of Axon Enterprise as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AXON. GAMMA Investing LLC boosted its position in shares of Axon Enterprise by 58,725.5% in the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Axon Enterprise by 23,203.7% in the 1st quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after purchasing an additional 611,418 shares during the last quarter. Nuveen LLC bought a new position in shares of Axon Enterprise in the 1st quarter worth $264,796,000. Westfield Capital Management Co. LP boosted its position in shares of Axon Enterprise by 29.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock worth $487,977,000 after purchasing an additional 212,931 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Axon Enterprise by 2.2% during the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after acquiring an additional 185,571 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Insider Activity

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the business's stock in a transaction that occurred on 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 transaction, the insider owned 144,538 shares of the company's stock, valued at $108,417,953.80. The trade was a 5.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hadi Partovi purchased 1,358 shares of the stock in a transaction on Wednesday, August 13th. The shares were acquired at an average cost of $740.00 per share, for a total transaction of $1,004,920.00. Following the transaction, the director owned 237,938 shares of the company's stock, valued at approximately $176,074,120. The trade was a 0.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 44,865 shares of company stock valued at $34,362,833. 4.40% of the stock is owned by insiders.

Analyst Ratings Changes

AXON has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. The Goldman Sachs Group lifted their target price on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. JMP Securities lifted their target price on Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 22nd. Wolfe Research started coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating on the stock. Finally, Raymond James Financial reissued an "outperform" rating and issued a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $837.69.

Axon Enterprise Stock Up 0.3%

Shares of NASDAQ:AXON traded up $1.88 during midday trading on Thursday, reaching $749.43. The company had a trading volume of 231,146 shares, compared to its average volume of 686,155. 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 business's 50 day moving average price is $762.78 and its 200 day moving average price is $682.93. The stock has a market cap of $58.83 billion, a PE ratio of 185.04, a P/E/G ratio of 26.87 and a beta of 1.40. Axon Enterprise, Inc has a 1-year low of $364.60 and a 1-year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, beating 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 return on equity of 6.80% and a net margin of 13.64%.Axon Enterprise's quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. Research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

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.