Axon Enterprise, Inc $AXON Shares Acquired by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management increased its Axon stake by 162.6% in the second quarter, bringing its holdings to 12,253 shares valued at approximately $6.9 million. Institutional investors collectively own 79.08% of the company.
• Axon exceeded second-quarter expectations, reporting adjusted EPS of $1.88 and revenue of $904.4 million, up 35.3% year over year. Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $730.92 target price.
• Valuation remains a key risk: Axon trades at a very high price-to-earnings ratio of about 255, while elevated costs, counter-drone investments and insider stock sales could weigh on profitability and investor sentiment.

Apollon Wealth Management LLC raised its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 162.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 12,253 shares of the biotechnology company's stock after purchasing an additional 7,587 shares during the period. Apollon Wealth Management LLC's holdings in Axon Enterprise were worth $6,869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Creative Financial Designs Inc. ADV acquired a new position in shares of Axon Enterprise in the 4th quarter valued at about $28,000. Camelot Portfolios LLC bought a new stake in shares of Axon Enterprise during the 4th quarter valued at about $30,000. AlphaCentric Advisors LLC acquired a new stake in Axon Enterprise during the fourth quarter worth about $34,000. Darwin Wealth Management LLC acquired a new stake in Axon Enterprise during the second quarter worth about $37,000. Finally, Strive Financial Group LLC acquired a new stake in Axon Enterprise during the fourth quarter worth about $41,000. Institutional investors own 79.08% of the company's stock.

Analysts Set New Price Targets

AXON has been the topic of a number of research reports. Morgan Stanley increased their price target on Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Royal Bank Of Canada restated an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. TD Cowen restated a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Barclays increased their target price on Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $715.00 target price on shares of Axon Enterprise in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $730.92.

Key Headlines Impacting Axon Enterprise

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Strong Q2 results and raised outlook: Axon exceeded expectations with adjusted earnings of $1.88 per share versus $1.84 expected and revenue of $904.4 million versus $876.4 million expected. Revenue grew 35.3% year over year, and management’s improved outlook supports the long-term growth story. Should You Buy, Hold or Sell AXON Stock Post Q2 Earnings Release?
• Positive Sentiment: Connected Devices momentum: TASER devices, body cameras and counter-drone products are driving strong hardware demand. Continued adoption of these products, combined with Axon’s cloud-based evidence and records software, reinforces the company’s integrated platform strategy. Will Strength in Connected Devices Unit Continue to Drive AXON’s Growth?
• Positive Sentiment: Bullish strategic commentary: Analysts highlighted Axon as a strong contender in law-enforcement technology, while coverage pointed to new artificial-intelligence capabilities as an additional growth catalyst for public-safety customers. Axon: A Strong Contender in Law Enforcement Tech
• Neutral Sentiment: Technical consolidation: AXON remains in a strong broader uptrend but has recently consolidated, leaving investors watching whether momentum resumes or the rally pauses. Stock of the Day: Is the Axon Rally Over?
• Negative Sentiment: Valuation and profitability risks: Despite strong revenue growth, analysts cautioned that Axon’s high earnings multiple, elevated costs, debt and relatively modest margins reduce its near-term appeal. Memory costs and counter-drone investments could also pressure profitability if spending rises faster than sales.
• Negative Sentiment: CEO share sale: CEO Patrick Smith sold 9,930 shares worth approximately $5.45 million. The transaction occurred under a pre-arranged Rule 10b5-1 plan and represented only 0.33% of his holdings, making it a limited signal but a potential source of investor caution.

Insider Buying and Selling

In other Axon Enterprise news, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the sale, the executive owned 49,710 shares of the company's stock, valued at $24,855,000. This trade represents a 2.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the business's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 68,989 shares of company stock valued at $36,016,932. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Stock Up 2.6%

AXON opened at $615.59 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The company has a market capitalization of $50.01 billion, a PE ratio of 255.43, a P/E/G ratio of 12.24 and a beta of 1.39. The stock's fifty day moving average is $523.52 and its 200-day moving average is $473.43. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $794.29.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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