Acadian Asset Management LLC Sells 11,764 Shares of Axon Enterprise, Inc $AXON

Key Points

• Acadian Asset Management LLC reduced its stake in Axon Enterprise by 25.6% during the first quarter, selling 11,764 shares, bringing their total holdings to 34,197 shares worth approximately $17.98 million.
• Axon Enterprise reported a 32.6% increase in revenue year-over-year, achieving $668.54 million for the quarter and surpassing analysts' expectations.
• Analysts have a consensus rating of "Moderate Buy" for Axon, with an average target price of $837.69, reflecting strong confidence in the company’s growth potential.

Acadian Asset Management LLC cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 25.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,197 shares of the biotechnology company's stock after selling 11,764 shares during the period. Acadian Asset Management LLC's holdings in Axon Enterprise were worth $17,975,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AXON. GAMMA Investing LLC boosted its holdings in Axon Enterprise by 58,725.5% in the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after buying an additional 763,431 shares during the last quarter. Jennison Associates LLC raised its position in Axon Enterprise by 23,203.7% in the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock valued at $322,961,000 after purchasing an additional 611,418 shares during the period. Nuveen LLC purchased a new stake in Axon Enterprise in the first quarter valued at approximately $264,796,000. Westfield Capital Management Co. LP increased its position in shares of Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock worth $487,977,000 after acquiring an additional 212,931 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Axon Enterprise by 2.2% during the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after purchasing an additional 185,571 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AXON has been the subject of several research analyst reports. Northland Securities set a $800.00 price objective on shares of Axon Enterprise in a research note on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday, July 11th. Zacks Research lowered Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Finally, JMP Securities lifted their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a report on Tuesday, July 22nd. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $837.69.

Axon Enterprise Price Performance

Shares of NASDAQ AXON traded up $5.02 during mid-day trading on Friday, reaching $756.13. The company had a trading volume of 303,694 shares, compared to its average volume of 447,052. The stock has a market cap of $59.36 billion, a PE ratio of 186.70, a P/E/G ratio of 27.75 and a beta of 1.40. The company has a 50-day moving average price of $761.10 and a two-hundred day moving average price of $688.38. 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 $375.71 and a 1-year high of $885.91.

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

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the stock in a transaction on 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 transaction, the insider directly owned 144,538 shares in the company, valued at approximately $108,417,953.80. This trade represents a 5.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $743.64, for a total value of $7,436,400.00. Following the sale, the chief executive officer directly owned 3,043,982 shares in the company, valued at $2,263,626,774.48. The trade was a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,790 shares of company stock worth $34,304,947 over the last 90 days. Company insiders own 5.70% of the company's stock.

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.