Ashford Capital Management Inc. Reduces Holdings in Axon Enterprise, Inc $AXON

Key Points

• Ashford Capital Management Inc. reduced its stake in Axon Enterprise by 32.5%, owning 37,150 shares worth approximately $19.54 million.
• A number of analysts have raised their price targets for Axon Enterprise, with Bank of America increasing its target from $895 to $1,000, classifying the stock as a "buy."
• Axon Enterprise's most recent quarterly earnings report showed an EPS of $2.12, significantly exceeding analyst expectations of $1.54, alongside a revenue increase of 32.6% year-over-year.

Ashford Capital Management Inc. trimmed its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 32.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,150 shares of the biotechnology company's stock after selling 17,871 shares during the quarter. Axon Enterprise comprises 2.5% of Ashford Capital Management Inc.'s investment portfolio, making the stock its 17th biggest position. Ashford Capital Management Inc.'s holdings in Axon Enterprise were worth $19,539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Baird Financial Group Inc. boosted its holdings in Axon Enterprise by 5.9% in the 1st quarter. Baird Financial Group Inc. now owns 5,987 shares of the biotechnology company's stock valued at $3,149,000 after purchasing an additional 333 shares during the last quarter. Stony Point Capital LLC acquired a new position in Axon Enterprise in the 1st quarter valued at about $29,422,000. Analog Century Management LP boosted its holdings in Axon Enterprise by 12.1% in the 1st quarter. Analog Century Management LP now owns 107,991 shares of the biotechnology company's stock valued at $56,798,000 after purchasing an additional 11,626 shares during the last quarter. Vident Advisory LLC boosted its holdings in Axon Enterprise by 179.8% in the 1st quarter. Vident Advisory LLC now owns 4,925 shares of the biotechnology company's stock valued at $2,590,000 after purchasing an additional 3,165 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Axon Enterprise by 6.9% in the 1st quarter. Driehaus Capital Management LLC now owns 214,822 shares of the biotechnology company's stock worth $112,986,000 after acquiring an additional 13,787 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on AXON shares. Bank of America upped their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Raymond James Financial restated an "outperform" rating and issued a $855.00 price objective (up from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Wolfe Research began coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating for the company. UBS Group reaffirmed a "neutral" rating and issued a $840.00 target price (up from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Finally, Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target on the stock in a research report on Tuesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $837.69.

Insider Buying and Selling

In other Axon Enterprise news, CAO Jennifer H. Mak sold 75 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $771.81, for a total value of $57,885.75. Following the sale, the chief accounting officer directly owned 15,240 shares of the company's stock, valued at approximately $11,762,384.40. This represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Joshua Isner sold 15,919 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the completion of the sale, the president directly owned 238,379 shares in the company, valued at approximately $177,892,712.54. This represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,703 shares of company stock worth $31,366,051. Corporate insiders own 5.70% of the company's stock.

Axon Enterprise Stock Down 0.5%

AXON stock traded down $3.70 during mid-day trading on Tuesday, reaching $743.59. The company had a trading volume of 493,576 shares, compared to its average volume of 672,356. 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 company has a market capitalization of $58.37 billion, a price-to-earnings ratio of 366.32, a price-to-earnings-growth ratio of 27.43 and a beta of 1.40. The firm has a fifty day simple moving average of $771.42 and a 200 day simple moving average of $677.75. Axon Enterprise, Inc has a fifty-two week low of $346.71 and a fifty-two week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results 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. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The company 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. Axon Enterprise's revenue for the quarter was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. Analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

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.