Axon Enterprise, Inc $AXON Stake Cut by Interchange Capital Partners LLC

Key Points

• Interchange Capital Partners LLC significantly reduced its stake in Axon Enterprise by 71.5%, now holding only 358 shares after selling 896 shares in the 2nd quarter.
• Analysts have mixed views on AXON, with some raising price targets significantly, including JPMorgan Chase & Co., which increased its target from $730 to $850, while Zacks downgraded the stock from "strong-buy" to "hold."
• Insider transactions show a notable reduction in stock ownership, with CAO Jennifer H. Mak selling 77 shares and Director Jeri Williams selling 100 shares, as insiders have sold a total of nearly 60,000 shares recently.

Interchange Capital Partners LLC reduced its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 71.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 358 shares of the biotechnology company's stock after selling 896 shares during the period. Axon Enterprise comprises about 0.3% of Interchange Capital Partners LLC's holdings, making the stock its 28th largest holding. Interchange Capital Partners LLC's holdings in Axon Enterprise were worth $296,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AXON. Hemington Wealth Management raised its stake in shares of Axon Enterprise by 70.8% during the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 17 shares in the last quarter. TCTC Holdings LLC raised its stake in shares of Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 24 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in shares of Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Axon Enterprise during the 1st quarter worth about $32,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Axon Enterprise during the 1st quarter worth about $31,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CAO Jennifer H. Mak sold 77 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $760.00, for a total value of $58,520.00. Following the sale, the chief accounting officer owned 15,003 shares of the company's stock, valued at $11,402,280. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeri Williams sold 100 shares of Axon Enterprise stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $752.54, for a total value of $75,254.00. Following the sale, the director directly owned 1,416 shares in the company, valued at $1,065,596.64. The trade was a 6.60% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,932 shares of company stock worth $45,115,616. Insiders own 5.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AXON shares. Zacks Research downgraded Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. JMP Securities reissued a "market outperform" rating and issued a $825.00 price objective on shares of Axon Enterprise in a research note on Monday, September 29th. Wolfe Research assumed coverage on Axon Enterprise in a research note on Monday, July 7th. They issued an "outperform" rating on the stock. JPMorgan Chase & Co. raised their price objective on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $855.00 price objective (up from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $841.64.

Axon Enterprise Stock Performance

AXON opened at $704.67 on Wednesday. The firm has a market capitalization of $55.32 billion, a P/E ratio of 173.99, a price-to-earnings-growth ratio of 27.57 and a beta of 1.41. The stock's 50 day moving average price is $751.62 and its two-hundred day moving average price is $715.98. 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 $422.38 and a 12-month high of $885.91.

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

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