Axon Enterprise, Inc $AXON Shares Bought by 11 Capital Partners LP

Key Points

• 11 Capital Partners LP increased its stake in Axon Enterprise by 33% during the first quarter, bringing its total holdings to 14,900 shares valued at approximately $7.8 million.
• CEO Patrick W. Smith recently sold 10,000 shares of Axon, decreasing his shareholding by 0.33%, while insider sales collectively amounted to nearly $27 million over the past three months.
• Axon Enterprise reported quarterly earnings of $2.12 per share, surpassing analyst expectations and showing a revenue increase of 32.6% compared to the previous year.

11 Capital Partners LP boosted its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 33.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,900 shares of the biotechnology company's stock after acquiring an additional 3,700 shares during the quarter. Axon Enterprise comprises about 2.6% of 11 Capital Partners LP's holdings, making the stock its 17th largest holding. 11 Capital Partners LP's holdings in Axon Enterprise were worth $7,837,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AXON. Brighton Jones LLC purchased a new position in Axon Enterprise in the 4th quarter valued at about $480,000. AQR Capital Management LLC boosted its position in Axon Enterprise by 382.2% in the 4th quarter. AQR Capital Management LLC now owns 23,363 shares of the biotechnology company's stock valued at $13,885,000 after buying an additional 18,518 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Axon Enterprise by 19.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,448 shares of the biotechnology company's stock valued at $3,238,000 after buying an additional 889 shares during the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of Axon Enterprise in the fourth quarter worth $445,000. Finally, Baker Avenue Asset Management LP bought a new stake in shares of Axon Enterprise in the fourth quarter worth $255,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

AXON traded down $1.75 during trading on Friday, reaching $728.41. 398,045 shares of the company were exchanged, compared to its average volume of 544,125. The stock has a market cap of $57.18 billion, a P/E ratio of 179.85, a PEG ratio of 26.73 and a beta of 1.40. The firm has a 50 day moving average of $765.93 and a 200 day moving average of $679.57. 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 52 week low of $346.71 and a 52 week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued 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. The firm had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The firm's revenue was up 32.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total value of $5,919,039.10. Following the sale, the insider owned 144,538 shares in the company, valued at approximately $108,417,953.80. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $831.29, for a total value of $8,312,900.00. Following the transaction, the chief executive officer owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,865 shares of company stock valued at $26,926,433 in the last ninety days. Insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AXON. JPMorgan Chase & Co. lifted their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Bank of America increased their price target on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Northland Securities set a $800.00 price target on shares of Axon Enterprise in a research report on Tuesday, August 5th. The Goldman Sachs Group increased their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Zacks Research cut shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Axon Enterprise presently has a consensus rating of "Moderate Buy" and an average price target of $837.69.

Axon Enterprise Company 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.