Armstrong Advisory Group Inc. Purchases 669 Shares of Axon Enterprise, Inc $AXON

Key Points

• Armstrong Advisory Group Inc. dramatically increased its holdings in Axon Enterprise by 1,631.7% during the 2nd quarter, now owning 710 shares valued at approximately $588,000.
• Axon Enterprise reported robust earnings, posting $2.12 earnings per share for the last quarter, exceeding analysts' expectations and indicating a 32.6% increase in quarterly revenue year-over-year.
• Several institutional investors, including Vanguard Group and AllianceBernstein, have recently increased their stakes in Axon Enterprise, contributing to significant growth in institutional ownership now reaching 79.08%.

Armstrong Advisory Group Inc. raised its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 1,631.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 710 shares of the biotechnology company's stock after acquiring an additional 669 shares during the period. Armstrong Advisory Group Inc.'s holdings in Axon Enterprise were worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 15,919 shares of the business's 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 completion of the transaction, the president directly owned 238,379 shares of the company's stock, valued at approximately $177,892,712.54. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $831.29, for a total value of $8,312,900.00. Following the completion of the transaction, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at approximately $2,538,744,696.78. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,932 shares of company stock valued at $34,408,816 over the last ninety days. Company insiders own 5.70% of the company's stock.

Axon Enterprise Stock Performance

AXON traded up $1.39 during midday trading on Monday, reaching $775.92. The company's stock had a trading volume of 406,873 shares, compared to its average volume of 491,303. The company has a fifty day simple moving average of $760.48 and a 200 day simple moving average of $698.43. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a twelve month low of $388.36 and a twelve month high of $885.91. The stock has a market cap of $60.91 billion, a P/E ratio of 191.59, a PEG ratio of 28.43 and a beta of 1.40.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced 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. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The company had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. During the same quarter last year, the company earned $1.20 EPS. The company's quarterly revenue was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. Research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on AXON. Raymond James Financial reiterated an "outperform" rating and set a $855.00 price objective (up previously from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Needham & Company LLC set a $870.00 target price on Axon Enterprise and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wolfe Research began coverage on Axon Enterprise in a research report on Monday, July 7th. They set an "outperform" rating on the stock. Bank of America increased their price target on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Zacks Research lowered Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

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.