Axon Enterprise, Inc $AXON Shares Purchased by Blue Trust Inc.

Key Points

• Blue Trust Inc. significantly increased its stake in Axon Enterprise, Inc by 272.2% during the second quarter, now holding shares worth approximately $521,000.
• Axon reported $2.12 earnings per share for the last quarter, surpassing the consensus estimate and demonstrating a 32.6% increase in revenue year-over-year.
• Insider trading activity included Director Hadi Partovi purchasing shares valued at over $1 million, while CFO Brittany Bagley sold shares totaling approximately $3.57 million.

Blue Trust Inc. increased its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 272.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 629 shares of the biotechnology company's stock after acquiring an additional 460 shares during the period. Blue Trust Inc.'s holdings in Axon Enterprise were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cyndeo Wealth Partners LLC acquired a new stake in Axon Enterprise during the second quarter worth about $1,157,000. Moseley Investment Management Inc. grew its holdings in Axon Enterprise by 0.8% during the second quarter. Moseley Investment Management Inc. now owns 3,187 shares of the biotechnology company's stock worth $2,639,000 after acquiring an additional 26 shares during the period. Stonebridge Financial Group LLC grew its holdings in Axon Enterprise by 285.1% during the second quarter. Stonebridge Financial Group LLC now owns 389 shares of the biotechnology company's stock worth $322,000 after acquiring an additional 288 shares during the period. Callan Family Office LLC acquired a new stake in Axon Enterprise during the second quarter worth about $2,454,000. Finally, Blair William & Co. IL grew its holdings in Axon Enterprise by 7.9% during the second quarter. Blair William & Co. IL now owns 94,517 shares of the biotechnology company's stock worth $78,254,000 after acquiring an additional 6,933 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Hadi Partovi bought 1,358 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were acquired 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 in the company, valued at $176,074,120. The trade was a 0.57% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brittany Bagley sold 5,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $713.88, for a total value of $3,569,400.00. Following the transaction, the chief financial officer owned 93,592 shares in the company, valued at approximately $66,813,456.96. The trade was a 5.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,932 shares of company stock valued at $45,115,616. 4.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Northland Securities set a $800.00 price objective on Axon Enterprise in a report on Tuesday, August 5th. Zacks Research lowered Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Wolfe Research assumed coverage on Axon Enterprise in a report on Monday, July 7th. They issued an "outperform" rating on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Axon Enterprise in a report on Wednesday, October 8th. Finally, Bank of America raised their price objective on Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $841.64.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $703.03 on Monday. The company has a market cap of $55.19 billion, a PE ratio of 173.59, a price-to-earnings-growth ratio of 27.30 and a beta of 1.41. The stock's 50 day simple moving average is $755.57 and its 200-day simple moving average is $714.84. Axon Enterprise, Inc has a 1-year low of $422.38 and a 1-year high of $885.91. 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 (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. The business had revenue of $668.54 million for 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 business's quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

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.

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