Axon Enterprise, Inc $AXON Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Axon Enterprise by 14.5%, selling 523 shares, which now leaves them with holdings worth approximately $2.54 million.
• Wall Street analysts have given Axon Enterprise a consensus average rating of "Moderate Buy" with a target price averaging $841.64.
• Axon Enterprise's latest quarterly earnings report showed a 32.6% increase in revenue year-over-year, with earnings per share surpassing analyst expectations, coming in at $2.12.

Envestnet Portfolio Solutions Inc. trimmed its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,073 shares of the biotechnology company's stock after selling 523 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Axon Enterprise were worth $2,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. TCI Wealth Advisors Inc. acquired a new position in shares of Axon Enterprise in the 2nd quarter valued at $214,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Axon Enterprise in the first quarter valued at $1,110,000. Quotient Wealth Partners LLC purchased a new stake in Axon Enterprise in the first quarter valued at $438,000. GAMMA Investing LLC boosted its holdings in Axon Enterprise by 11.8% in the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after purchasing an additional 154 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in Axon Enterprise by 5.1% in the first quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock valued at $494,000 after purchasing an additional 46 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AXON shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $870.00 price target on shares of Axon Enterprise in a report on Wednesday, September 24th. Zacks Research lowered shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Axon Enterprise in a report on Wednesday, October 8th. 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 report on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $841.64.

Axon Enterprise Trading Up 1.1%

Shares of Axon Enterprise stock opened at $652.17 on Friday. The firm has a market capitalization of $51.20 billion, a PE ratio of 161.03, a P/E/G ratio of 25.05 and a beta of 1.41. Axon Enterprise, Inc has a twelve month low of $422.38 and a twelve month high of $885.91. The firm's 50-day moving average price is $742.88 and its 200 day moving average price is $716.37. 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 (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. The firm had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise's quarterly revenue was up 32.6% compared to the same quarter last year. During the same period last year, the company posted $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Axon Enterprise news, Director Jeri Williams sold 100 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $752.54, for a total value of $75,254.00. Following the completion of the sale, the director owned 1,416 shares in the company, valued at approximately $1,065,596.64. This represents a 6.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua Isner sold 15,919 shares of the stock in a transaction dated 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 owned 238,379 shares of the company's stock, valued at approximately $177,892,712.54. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,932 shares of company stock worth $45,115,616 in the last 90 days. Corporate 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.

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