Alliancebernstein L.P. Raises Stock Position in Axon Enterprise, Inc $AXON

Key Points

• Alliancebernstein L.P. increased its holdings in Axon Enterprise by 15.9%, now owning approximately 1.65% of the company valued at $675.8 million.
• Analysts have raised their price targets for Axon Enterprise, with Goldman Sachs setting a new target of $830 and Bank of America at $1,000, reflecting a strong buy sentiment.
• Axon Enterprise reported a 32.6% year-over-year revenue increase for the quarter, achieving $668.54 million and exceeding analysts' expectations.

Alliancebernstein L.P. boosted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 15.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,284,935 shares of the biotechnology company's stock after buying an additional 175,890 shares during the period. Alliancebernstein L.P. owned approximately 1.65% of Axon Enterprise worth $675,812,000 as of its most recent SEC filing.

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

Axon Enterprise Stock Down 0.2%

Shares of Axon Enterprise stock traded down $1.75 during trading hours on Friday, reaching $728.41. 398,045 shares of the company were exchanged, compared to its average volume of 544,125. The firm has a market cap of $57.18 billion, a PE ratio of 179.85, a PEG ratio of 26.73 and a beta of 1.40. The stock's fifty day moving average is $765.93 and its 200 day moving average is $679.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. Axon Enterprise, Inc has a 1 year low of $346.71 and a 1 year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.54 by $0.58. The firm had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.Axon Enterprise's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AXON. Northland Securities set a $800.00 target price on Axon Enterprise in a research note on Tuesday, August 5th. Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the company an "overweight" rating in a research report on Friday, July 11th. Zacks Research cut Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. JMP Securities lifted their price objective on Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 22nd. Finally, Craig Hallum upgraded Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a report 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $837.69.

Insider Buying and Selling

In other news, CAO Jennifer H. Mak sold 75 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $723.50, for a total transaction of $54,262.50. Following the completion of the sale, the chief accounting officer owned 15,080 shares in the company, 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 link. Also, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the sale, the chief executive officer owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,865 shares of company stock valued at $26,926,433 over the last ninety days. Company insiders own 4.40% of the company's stock.

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.