Axon Enterprise, Inc $AXON is Defender Capital LLC.'s 2nd Largest Position

Key Points

• Defender Capital increased its Axon Enterprise stake by 25.6% in the second quarter to 74,485 shares valued at approximately $41.8 million, making AXON 13.6% of the firm’s portfolio and its second-largest holding.
• Axon reported quarterly EPS of $1.88, beating estimates by $0.04, while revenue reached $904.4 million—up 35.3% year over year and above expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $730.92. However, the stock’s valuation remains elevated, with a P/E ratio of 247.44.

Defender Capital LLC. lifted its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 25.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,485 shares of the biotechnology company's stock after purchasing an additional 15,195 shares during the period. Axon Enterprise makes up 13.6% of Defender Capital LLC.'s holdings, making the stock its 2nd biggest holding. Defender Capital LLC. owned approximately 0.09% of Axon Enterprise worth $41,757,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Darwin Wealth Management LLC purchased a new position in Axon Enterprise in the 2nd quarter valued at approximately $37,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Axon Enterprise during the fourth quarter worth $28,000. Sound Income Strategies LLC increased its position in shares of Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 44 shares during the period. Camelot Portfolios LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at $30,000. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at $34,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AXON. JPMorgan Chase & Co. boosted their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. TD Cowen restated a "buy" rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $715.00 price target on shares of Axon Enterprise in a research report on Thursday. Piper Sandler lifted their price objective on Axon Enterprise from $724.00 to $732.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and an average target price of $730.92.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $596.33 on Tuesday. The firm has a market capitalization of $48.45 billion, a PE ratio of 247.44, a price-to-earnings-growth ratio of 11.65 and a beta of 1.39. The business's fifty day moving average price is $516.19 and its 200 day moving average price is $473.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $844.15.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.04. The company had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.Axon Enterprise's revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 EPS. On average, sell-side analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Caitlin Elizabeth Kalinowski sold 564 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $478.97, for a total value of $270,139.08. Following the completion of the sale, the director directly owned 3,632 shares of the company's stock, valued at $1,739,619.04. This represents a 13.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Cameron Brooks sold 1,242 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the transaction, the executive owned 49,710 shares in the company, valued at $24,855,000. This represents a 2.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 58,989 shares of company stock valued at $30,527,983 over the last 90 days. Insiders own 4.20% of the company's stock.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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