Plato Investment Management Ltd Cuts Stake in Axon Enterprise, Inc $AXON

Key Points

• Plato Investment Management Ltd has reduced its stake in Axon Enterprise, Inc by 29.6%, owning 1,550 shares valued at approximately $824,000 after selling 651 shares in the first quarter.
• In recent analyst reports, thirteen analysts have rated Axon with a "Buy" rating, setting a consensus price target of $837.69, indicating positive market sentiment.
• CEO Patrick W. Smith sold 10,000 shares of Axon at an average price of $743.64, resulting in a total transaction value of over $7.4 million, slightly reducing his ownership percentage.

Plato Investment Management Ltd reduced its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 29.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,550 shares of the biotechnology company's stock after selling 651 shares during the quarter. Plato Investment Management Ltd's holdings in Axon Enterprise were worth $824,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at about $30,000. TCTC Holdings LLC lifted its position in Axon Enterprise by 75.0% in the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 24 shares during the period. Bartlett & CO. Wealth Management LLC boosted its holdings in Axon Enterprise by 132.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Axon Enterprise during the 1st quarter worth approximately $32,000. Finally, Banque Transatlantique SA purchased a new position in shares of Axon Enterprise during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Buying and Selling

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 3,043,982 shares of the company's stock, valued at $2,263,626,774.48. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hadi Partovi acquired 1,358 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $740.00 per share, with a total value of $1,004,920.00. Following the transaction, the director owned 237,938 shares of the company's stock, valued at approximately $176,074,120. The trade was a 0.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 44,790 shares of company stock worth $34,304,947 in the last 90 days. 5.70% of the stock is currently owned by corporate insiders.

Axon Enterprise Price Performance

Shares of AXON stock traded up $5.02 during trading hours on Friday, hitting $756.13. The company's stock had a trading volume of 303,694 shares, compared to its average volume of 447,052. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $761.10 and a 200-day moving average of $688.38. Axon Enterprise, Inc has a twelve month low of $375.71 and a twelve month high of $885.91. The stock has a market cap of $59.36 billion, a price-to-earnings ratio of 186.70, a P/E/G ratio of 27.75 and a beta of 1.40.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AXON shares. UBS Group restated a "neutral" rating and issued a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Raymond James Financial reissued an "outperform" rating and issued a $855.00 target price (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Bank of America upped their price target on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. JMP Securities increased 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, Northland Securities set a $800.00 price objective on shares of Axon Enterprise 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. According to data from MarketBeat, Axon Enterprise currently has an average rating of "Moderate Buy" and a consensus target price of $837.69.

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.