Axon Enterprise, Inc $AXON Shares Sold by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. reduced its stake in Axon Enterprise by 20.5%, holding 23,301 shares valued at approximately $12.25 million as of the latest SEC filing.
• Axon Enterprise reported a significant quarterly earnings beat, with earnings per share of $2.12 surpassing estimates and a year-over-year revenue increase of 32.6%.
• Wall Street analysts are optimistic about Axon, with multiple firms raising their price targets, resulting in an average target price of $837.69 and a rating of "Moderate Buy."

Advisors Asset Management Inc. lessened its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,301 shares of the biotechnology company's stock after selling 6,012 shares during the quarter. Advisors Asset Management Inc.'s holdings in Axon Enterprise were worth $12,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXON. TCTC Holdings LLC boosted its stake in Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 24 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of Axon Enterprise during the 4th quarter worth $30,000. Bartlett & CO. Wealth Management LLC raised its holdings in shares of Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 33 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Axon Enterprise during the 1st quarter worth $32,000. Finally, Alpine Bank Wealth Management purchased a new position in shares of Axon Enterprise during the 1st quarter worth $40,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Performance

NASDAQ AXON traded down $1.75 on Friday, reaching $728.41. The stock had a trading volume of 398,045 shares, compared to its average volume of 544,125. Axon Enterprise, Inc has a 12-month low of $346.71 and a 12-month high of $885.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The business's 50-day moving average price is $765.93 and its 200 day moving average price is $679.57. The stock has a market cap of $57.18 billion, a P/E ratio of 179.85, a price-to-earnings-growth ratio of 26.73 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 EPS for the quarter, topping the consensus estimate of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The business had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. During the same quarter in the prior year, the business earned $1.20 earnings per share. The company's quarterly 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, equities analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on AXON shares. Morgan Stanley set a $885.00 price target on Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. Wolfe Research started coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating on the stock. Raymond James Financial reiterated an "outperform" rating and set a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. UBS Group restated a "neutral" rating and issued a $840.00 price objective (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $837.69.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, Director Hadi Partovi acquired 1,358 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was purchased 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 owned 237,938 shares of the company's stock, valued at $176,074,120. The trade was a 0.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer H. Mak sold 75 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $723.50, for a total value of $54,262.50. Following the completion of the transaction, the chief accounting officer owned 15,080 shares of the company's stock, valued at $10,910,380. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,865 shares of company stock valued at $26,926,433 in 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.