Axon Enterprise, Inc $AXON Shares Bought by EverSource Wealth Advisors LLC

Key Points

• EverSource Wealth Advisors more than doubled its Axon position in the second quarter, increasing holdings by 111.2% to 3,666 shares valued at approximately $2.06 million. Institutional investors collectively own 79.08% of the company.
• Axon beat second-quarter expectations with adjusted earnings of $1.88 per share and revenue of $904.4 million, up 35.3% year over year. Growth was supported by connected devices, cloud software and ongoing demand for public-safety technology.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and a $730.92 target price, but Axon’s elevated valuation, modest profitability and insider share sales remain potential risks for investors.

EverSource Wealth Advisors LLC grew its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 111.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,666 shares of the biotechnology company's stock after purchasing an additional 1,930 shares during the period. EverSource Wealth Advisors LLC's holdings in Axon Enterprise were worth $2,055,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tradewinds Capital Management LLC grew its holdings in Axon Enterprise by 5,020.0% during the 2nd quarter. Tradewinds Capital Management LLC now owns 256 shares of the biotechnology company's stock valued at $144,000 after purchasing an additional 251 shares in the last quarter. Lodestone Wealth Management LLC increased its position in shares of Axon Enterprise by 279.8% during the second quarter. Lodestone Wealth Management LLC now owns 357 shares of the biotechnology company's stock worth $200,000 after acquiring an additional 263 shares during the last quarter. Malaga Cove Capital LLC lifted its stake in shares of Axon Enterprise by 126.2% in the second quarter. Malaga Cove Capital LLC now owns 1,690 shares of the biotechnology company's stock worth $947,000 after acquiring an additional 943 shares in the last quarter. Atala Financial Inc boosted its holdings in Axon Enterprise by 9.4% in the second quarter. Atala Financial Inc now owns 5,328 shares of the biotechnology company's stock valued at $2,987,000 after purchasing an additional 457 shares during the last quarter. Finally, PFG Investments LLC grew its stake in Axon Enterprise by 1.9% during the 2nd quarter. PFG Investments LLC now owns 3,674 shares of the biotechnology company's stock valued at $2,060,000 after purchasing an additional 70 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

More Axon Enterprise News

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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AXON. JPMorgan Chase & Co. upped their target price on Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Weiss Ratings restated a "hold (c-)" rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Needham & Company LLC reiterated a "buy" rating on shares of Axon Enterprise in a research note on Thursday, August 6th. TD Cowen reissued a "buy" rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Finally, Zacks Research lowered shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $730.92.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. The trade was a 4.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Cameron Brooks sold 1,242 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the transaction, the executive directly owned 49,710 shares in the company, valued at $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 68,989 shares of company stock valued at $36,016,932. Company insiders own 4.20% of the company's stock.

Axon Enterprise Stock Up 2.6%

Shares of Axon Enterprise stock opened at $615.59 on Friday. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $794.29. The stock has a market capitalization of $50.01 billion, a price-to-earnings ratio of 255.43, a PEG ratio of 12.24 and a beta of 1.39. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The business's 50 day simple moving average is $523.52 and its 200-day simple moving average is $473.43.

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 the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The firm had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same period last year, the company earned $2.12 earnings per share. The firm's revenue for the quarter was up 35.3% on a year-over-year basis. Equities research analysts forecast that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Axon Enterprise Profile

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.

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