Axon Enterprise, Inc $AXON Shares Acquired by Praxis Investment Management Inc.

Key Points

• Praxis Investment Management Inc. increased its stake in Axon Enterprise by 17.8% during the 2nd quarter, bringing its total holdings to 3,180 shares worth approximately $2.63 million.
• Analysts have a consensus rating of Moderate Buy for Axon Enterprise, with a target price of $841.64, supported by several firms including JPMorgan Chase and Bank of America, raising their price targets significantly.
• Axon Enterprise reported earnings of $2.12 per share in its latest quarter, exceeding the consensus estimate and showcasing revenue growth of 32.6% year-over-year.

Praxis Investment Management Inc. increased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 17.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,180 shares of the biotechnology company's stock after acquiring an additional 480 shares during the period. Praxis Investment Management Inc.'s holdings in Axon Enterprise were worth $2,633,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after acquiring an additional 185,571 shares during the last quarter. Alliancebernstein L.P. lifted its position in Axon Enterprise by 15.9% during the first quarter. Alliancebernstein L.P. now owns 1,284,935 shares of the biotechnology company's stock valued at $675,812,000 after buying an additional 175,890 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in Axon Enterprise by 29.8% during the first 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 in the last quarter. Northern Trust Corp lifted its position in Axon Enterprise by 1.2% during the first quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company's stock valued at $381,692,000 after buying an additional 8,794 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Axon Enterprise by 23,203.7% during the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock valued at $322,961,000 after buying an additional 611,418 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AXON has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target on the stock in a research report on Tuesday, August 5th. Wolfe Research began coverage on shares of Axon Enterprise in a research note on Monday, July 7th. They set an "outperform" rating on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Axon Enterprise in a research note on Wednesday, October 8th. Finally, Bank of America lifted their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $841.64.

Insider Activity at Axon Enterprise

In other news, CFO Brittany Bagley sold 5,000 shares of the business's stock in a transaction on 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 completion of the transaction, the chief financial officer owned 93,592 shares of the company's stock, valued at approximately $66,813,456.96. The trade was a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Joshua Isner sold 15,919 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the transaction, the president directly owned 238,379 shares of the company's stock, valued at approximately $177,892,712.54. This trade represents a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,932 shares of company stock valued at $45,115,616. Company insiders own 4.40% of the company's stock.

Axon Enterprise Stock Up 1.1%

AXON stock opened at $652.17 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. Axon Enterprise, Inc has a 1-year low of $422.38 and a 1-year high of $885.91. The firm has a fifty day moving average price of $742.88 and a two-hundred day moving average price of $716.37. The firm has a market cap of $51.20 billion, a price-to-earnings ratio of 161.03, a PEG ratio of 25.05 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating 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 firm had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. During the same quarter in the previous year, the firm earned $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. Research analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

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.

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