Sowell Financial Services LLC Purchases 2,280 Shares of Axon Enterprise, Inc $AXON

Key Points

• Sowell Financial Services LLC increased its stake in Axon Enterprise, Inc by 56.6% during the 2nd quarter, owning 6,310 shares worth approximately $5.22 million.
• Institutional investors now hold 79.08% of Axon Enterprise's stock, indicative of significant institutional interest in the company.
• Axon reported $2.12 EPS for its latest quarter, surpassing analyst expectations and demonstrating a 32.6% year-over-year revenue increase.

Sowell Financial Services LLC lifted its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 56.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,310 shares of the biotechnology company's stock after purchasing an additional 2,280 shares during the quarter. Sowell Financial Services LLC's holdings in Axon Enterprise were worth $5,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arthur M. Cohen & Associates LLC raised its holdings in Axon Enterprise by 3.1% during the second quarter. Arthur M. Cohen & Associates LLC now owns 2,378 shares of the biotechnology company's stock worth $1,969,000 after purchasing an additional 71 shares in the last quarter. Compass Ion Advisors LLC purchased a new position in Axon Enterprise in the 2nd quarter valued at about $830,000. First PREMIER Bank increased its stake in shares of Axon Enterprise by 107.5% during the 2nd quarter. First PREMIER Bank now owns 222 shares of the biotechnology company's stock valued at $184,000 after acquiring an additional 115 shares during the last quarter. Farther Finance Advisors LLC increased its position in Axon Enterprise by 1,299.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,758 shares of the biotechnology company's stock worth $5,596,000 after purchasing an additional 6,275 shares in the last quarter. Finally, Silver Oak Securities Incorporated acquired a new stake in Axon Enterprise during the 2nd quarter worth approximately $243,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Analysts Set New Price Targets

AXON has been the subject of several recent research reports. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective for the company in a research report on Tuesday, August 5th. Raymond James Financial reaffirmed an "outperform" rating and set a $855.00 target price (up from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Bank of America lifted their target price on Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Northland Securities set a $800.00 target price on Axon Enterprise in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and an average price target of $837.69.

Axon Enterprise Stock Performance

Shares of AXON traded up $8.06 during mid-day trading on Friday, reaching $774.53. The company's stock had a trading volume of 1,738,952 shares, compared to its average volume of 491,303. The stock has a market cap of $60.80 billion, a P/E ratio of 191.24, a PEG ratio of 28.43 and a beta of 1.40. The business has a 50-day simple moving average of $759.97 and a two-hundred day simple moving average of $696.68. 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 1-year low of $387.06 and a 1-year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted 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. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The firm had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. During the same quarter last year, the company earned $1.20 EPS. The company's revenue was up 32.6% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey C. Kunins sold 7,891 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the completion of the sale, the insider directly owned 144,538 shares of the company's stock, valued at $108,417,953.80. The trade was a 5.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,932 shares of company stock worth $34,408,816 over the last three months. Insiders own 4.40% of the company's stock.

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.