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

Key Points

• Pinnacle Wealth Management LLC increased its holdings in Axon Enterprise by 9.7%, acquiring an additional 444 shares, which now represent 3.5% of its portfolio.
• Several institutional investors have also significantly increased their stakes in Axon Enterprise, with 79.08% of the company's stock now owned by hedge funds and other institutional entities.
• Wall Street analysts have given Axon Enterprise an average rating of "Moderate Buy," with target prices ranging from $800 to $893, reflecting positive growth expectations for the company.

Pinnacle Wealth Management LLC lifted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,030 shares of the biotechnology company's stock after purchasing an additional 444 shares during the period. Axon Enterprise comprises approximately 3.5% of Pinnacle Wealth Management LLC's portfolio, making the stock its 6th largest position. Pinnacle Wealth Management LLC's holdings in Axon Enterprise were worth $4,165,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. TCTC Holdings LLC grew its holdings in shares of Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 24 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 33 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of Axon Enterprise during the first quarter worth about $31,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Axon Enterprise in the first quarter valued at about $32,000. Finally, Flaharty Asset Management LLC purchased a new stake in shares of Axon Enterprise in the first quarter valued at about $33,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AXON shares. Piper Sandler started coverage on shares of Axon Enterprise in a report on Tuesday, September 23rd. They issued an "overweight" rating and a $893.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $870.00 target price on shares of Axon Enterprise in a report on Wednesday, September 24th. Northland Securities set a $800.00 target price on shares of Axon Enterprise in a report on Tuesday, August 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $825.00 target price on shares of Axon Enterprise in a report on Monday, September 29th. Finally, Zacks Research cut shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $841.64.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CFO Brittany Bagley sold 5,000 shares of the company's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the transaction, the chief financial officer directly owned 93,592 shares in the company, valued at approximately $66,813,456.96. This represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hadi Partovi bought 1,358 shares of the stock in a transaction on Wednesday, August 13th. The shares were bought at an average price of $740.00 per share, for a total transaction of $1,004,920.00. Following the completion of the transaction, the director directly owned 237,938 shares of the company's stock, valued at $176,074,120. This trade represents a 0.57% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 59,932 shares of company stock valued at $45,115,616 in the last ninety days. Company insiders own 4.40% of the company's stock.

Axon Enterprise Trading Up 2.8%

Shares of AXON opened at $670.68 on Friday. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The firm's 50-day moving average is $739.44 and its two-hundred day moving average is $718.36. Axon Enterprise, Inc has a twelve month low of $422.38 and a twelve month high of $885.91. The firm has a market capitalization of $52.65 billion, a P/E ratio of 165.60, a PEG ratio of 26.04 and a beta of 1.41.

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

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