Granahan Investment Management LLC Reduces Stake in Axon Enterprise, Inc $AXON

Key Points

• Granahan Investment Management LLC reduced its stake in Axon Enterprise by 47.8%, selling 77,334 shares and now holding 84,333 shares, representing 2.2% of their portfolio.
• Axon Enterprise reported a 32.6% year-over-year revenue increase with earnings per share of $2.12, surpassing analyst expectations of $1.54.
• Thirteen analysts have given Axon Enterprise a "Buy" rating, with an average target price of $837.69, reflecting optimism about the stock's future performance.

Granahan Investment Management LLC cut its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 47.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,333 shares of the biotechnology company's stock after selling 77,334 shares during the quarter. Axon Enterprise accounts for about 2.2% of Granahan Investment Management LLC's investment portfolio, making the stock its 10th largest holding. Granahan Investment Management LLC owned 0.11% of Axon Enterprise worth $44,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AXON. TCTC Holdings LLC grew its stake in shares of Axon Enterprise by 75.0% in the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 24 shares during the period. Fourth Dimension Wealth LLC bought a new stake in Axon Enterprise during the fourth quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC grew its position in Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after buying an additional 33 shares during the period. Banque Transatlantique SA bought a new stake in Axon Enterprise during the first quarter valued at approximately $31,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Axon Enterprise during the first quarter valued at approximately $32,000. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Price Performance

Axon Enterprise stock traded up $4.82 during mid-day trading on Wednesday, reaching $736.80. 163,572 shares of the company's stock traded hands, compared to its average volume of 686,985. The company has a market cap of $57.84 billion, a price-to-earnings ratio of 181.93, a PEG ratio of 27.18 and a beta of 1.40. The stock has a 50 day moving average of $763.32 and a two-hundred day moving average of $682.49. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a 12-month low of $353.91 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released 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. The company had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise's revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. Equities analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on AXON shares. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the company an "overweight" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Raymond James Financial reaffirmed 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. JMP Securities lifted their price target 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. Finally, Needham & Company LLC set a $870.00 price target on shares of Axon Enterprise and gave the company a "buy" rating in a report on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and an average price target of $837.69.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $743.64, for a total transaction of $7,436,400.00. Following the transaction, the chief executive officer owned 3,043,982 shares in the company, valued at $2,263,626,774.48. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Joshua Isner sold 15,919 shares of the business's stock in a transaction 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 transaction, the president owned 238,379 shares in the company, valued at $177,892,712.54. This trade represents a 6.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,865 shares of company stock valued at $34,362,833. Insiders own 5.70% 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.