Vident Advisory LLC Increases Stake in Axon Enterprise, Inc $AXON

Key Points

• Vident Advisory LLC increased its stake in Axon Enterprise by 179.8%, owning 4,925 shares valued at approximately $2.59 million at the end of the last reporting period.
• Axon Enterprise reported a strong quarterly earnings performance with $2.12 earnings per share, surpassing analysts' estimates and demonstrating a 32.6% year-over-year revenue growth.
• The stock currently holds an average rating of "Moderate Buy" from analysts, with a consensus price target of $837.69.

Vident Advisory LLC raised its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 179.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,925 shares of the biotechnology company's stock after purchasing an additional 3,165 shares during the quarter. Vident Advisory LLC's holdings in Axon Enterprise were worth $2,590,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Driehaus Capital Management LLC lifted its holdings in shares of Axon Enterprise by 6.9% in the first quarter. Driehaus Capital Management LLC now owns 214,822 shares of the biotechnology company's stock worth $112,986,000 after buying an additional 13,787 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Axon Enterprise by 54.7% in the first quarter. Canada Pension Plan Investment Board now owns 79,347 shares of the biotechnology company's stock worth $41,733,000 after buying an additional 28,061 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Axon Enterprise in the first quarter worth $78,000. Landscape Capital Management L.L.C. purchased a new position in shares of Axon Enterprise in the first quarter worth $1,443,000. Finally, Next Century Growth Investors LLC lifted its holdings in shares of Axon Enterprise by 39.9% in the first quarter. Next Century Growth Investors LLC now owns 3,098 shares of the biotechnology company's stock worth $1,629,000 after buying an additional 883 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $831.29, for a total transaction 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. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hadi Partovi purchased 1,358 shares of Axon Enterprise stock in a transaction on Wednesday, August 13th. The shares were acquired at an average cost of $740.00 per share, with a total value of $1,004,920.00. Following the completion of the transaction, the director directly owned 237,938 shares in the company, valued at $176,074,120. The trade was a 0.57% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 34,865 shares of company stock worth $26,926,433 over the last ninety days. 4.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AXON has been the topic of a number of recent research reports. Zacks Research downgraded shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. 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 note on Tuesday, August 5th. 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. JMP Securities boosted their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 22nd. Finally, UBS Group reiterated a "neutral" rating and set a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $837.69.

Axon Enterprise Stock Down 0.2%

Axon Enterprise stock traded down $1.75 during midday trading on Friday, hitting $728.41. 397,275 shares of the company's stock were exchanged, compared to its average volume of 692,085. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. Axon Enterprise, Inc has a 12 month low of $346.71 and a 12 month high of $885.91. The firm has a 50-day moving average of $767.74 and a two-hundred day moving average of $678.85. The company has a market cap of $57.18 billion, a PE ratio of 179.85, a P/E/G ratio of 26.62 and a beta of 1.40.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business had revenue of $668.54 million for the quarter, compared to analysts' expectations of $641.77 million. During the same period last year, the business earned $1.20 EPS. The company's revenue was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal 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.