Axon Enterprise, Inc $AXON Shares Acquired by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC increased its stake in Axon Enterprise by 6.9%, now owning approximately 214,822 shares valued at around $112.99 million, which is 1.1% of its investment portfolio.
• Axon Enterprise reported a 32.6% year-over-year revenue increase, bringing in $668.54 million and surpassing analysts' expectations with earnings per share of $2.12.
• Analysts remain bullish on Axon, with a consensus price target of $837.69 following upgrades from multiple firms, while 13 analysts rated it as a "Buy."

Driehaus Capital Management LLC raised its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 214,822 shares of the biotechnology company's stock after purchasing an additional 13,787 shares during the quarter. Axon Enterprise comprises approximately 1.1% of Driehaus Capital Management LLC's portfolio, making the stock its 9th largest holding. Driehaus Capital Management LLC owned about 0.28% of Axon Enterprise worth $112,986,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Axon Enterprise by 58,725.5% in the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after acquiring an additional 763,431 shares in the last quarter. Jennison Associates LLC increased its position in shares of Axon Enterprise by 23,203.7% in the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after acquiring an additional 611,418 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Axon Enterprise during the first quarter worth approximately $264,796,000. Westfield Capital Management Co. LP lifted its stake in Axon Enterprise by 29.8% in the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock valued at $487,977,000 after acquiring an additional 212,931 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after buying an additional 185,571 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Price Performance

Shares of NASDAQ AXON traded down $3.70 during midday trading on Tuesday, hitting $743.59. 492,857 shares of the company's stock were exchanged, compared to its average volume of 696,763. The business's fifty day moving average price is $771.42 and its two-hundred day moving average price is $677.75. The company has a market cap of $58.37 billion, a price-to-earnings ratio of 183.60, a PEG ratio of 27.43 and a beta of 1.40. Axon Enterprise, Inc has a 12-month low of $346.71 and a 12-month high of $885.91. 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, 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 company had revenue of $668.54 million for the quarter, compared to analysts' expectations of $641.77 million. During the same period in the prior year, the firm earned $1.20 earnings per share. The firm's revenue for the quarter was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, Director Hadi Partovi bought 1,358 shares of the stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $740.00 per share, for a total transaction of $1,004,920.00. Following the completion of the purchase, the director directly owned 237,938 shares of the company's stock, valued at $176,074,120. This represents a 0.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Garnreiter sold 5,913 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total value of $4,493,880.00. Following the transaction, the director directly owned 17,740 shares of the company's stock, valued at $13,482,400. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,703 shares of company stock valued at $31,366,051. Company insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AXON. The Goldman Sachs Group upped their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. UBS Group restated a "neutral" rating and set a $840.00 target price (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Barclays lifted their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. JMP Securities upped their price objective 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, Craig Hallum upgraded 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 note on Tuesday, August 5th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and an average price target of $837.69.

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.