Axon Enterprise, Inc $AXON Stock: AMI Asset Management Corp Lowers Holdings

Key Points

• AMI Asset Management cut its Axon position by 3.9% in the third quarter, selling 4,102 shares and retaining 99,965 shares valued at approximately $42.2 million. Institutional investors and hedge funds collectively own 79.08% of AXON.
• Axon insiders have also been selling shares, including CEO Patrick Smith and President Joshua Isner; insiders sold 47,397 shares worth about $26.7 million over the past 90 days.
• Despite the ownership reductions, Axon reported quarterly revenue growth of 35.3% year over year and earnings above analyst expectations. Analysts maintain a consensus “Moderate Buy” rating with a $707.07 price target, although the stock trades at a high P/E ratio of 162.92.

AMI Asset Management Corp trimmed its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,965 shares of the biotechnology company's stock after selling 4,102 shares during the period. Axon Enterprise comprises about 2.4% of AMI Asset Management Corp's holdings, making the stock its 19th largest position. AMI Asset Management Corp owned approximately 0.12% of Axon Enterprise worth $42,237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Keating Financial Advisory Services Inc. bought a new position in Axon Enterprise in the 2nd quarter valued at about $31,000. Wealth Enhancement Trust Services Inc. acquired a new position in Axon Enterprise during the 3rd quarter valued at about $33,000. Washington Trust Advisors Inc. boosted its stake in Axon Enterprise by 1,300.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock valued at $39,000 after purchasing an additional 65 shares during the last quarter. Delos Wealth Advisors LLC acquired a new position in Axon Enterprise during the 2nd quarter valued at about $45,000. Finally, Owl Creek Wealth Partners LLC increased its holdings in Axon Enterprise by 84.8% during the 2nd quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 39 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the transaction, the chief executive officer directly owned 3,118,012 shares of the company's stock, valued at approximately $1,587,036,927.88. This represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the completion of the sale, the president directly owned 296,974 shares of the company's stock, valued at $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 47,397 shares of company stock worth $26,722,984. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Trading Up 2.5%

Shares of Axon Enterprise stock opened at $392.64 on Wednesday. The firm has a market cap of $31.90 billion, a PE ratio of 162.92, a P/E/G ratio of 7.21 and a beta of 1.44. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $764.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The stock has a fifty day moving average price of $492.46 and a 200-day moving average price of $474.34.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same quarter last year, the company posted $2.12 earnings per share. The firm's quarterly revenue was up 35.3% compared to the same quarter last year. Equities research analysts anticipate that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Axon Enterprise News Summary

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Axon is expected to report third-quarter results soon, with analysts anticipating a substantial year-over-year increase in earnings per share. The earnings preview may be supporting optimism about continued revenue and profit growth. Earnings Preview: What to Expect From Axon Enterprise’s Report
• Positive Sentiment: Bloomington approved an expanded agreement with Axon for policing technology, while the Reno City Council is set to vote on a proposed $22 million deal. Additional municipal contracts could reinforce Axon’s recurring-revenue model and strengthen demand for its connected hardware and cloud software. Bloomington council OKs expanded agreement with Axon for policing technology City of Reno council to vote on $22M Axon tech deal
• Positive Sentiment: Commentary from The Motley Fool describes Axon as a potential buy after a roughly 54% decline, arguing that recent pressure appears largely short-term and that the company retains a dominant position in public safety. Down 54%, This Tech Stock Looks Like a Buy With or Without AI
• Neutral Sentiment: Piper Sandler maintained an “overweight” rating but reduced its AXON price target from $732 to $561. The target cut signals more cautious near-term expectations, although it still implies significant potential upside based on the cited trading level.
• Neutral Sentiment: A comparison with Arista Networks emphasizes Axon’s integrated hardware-and-cloud platform and strong public-safety market position, but it is an opinion piece rather than a new company-specific catalyst. Arista Networks vs. Axon Enterprise
• Neutral Sentiment: Reports concerning an “Axon Graphite” spin-out by Lithium Energy and a reverse stock split by Axonex AI Group are unrelated to Axon Enterprise, Inc. (AXON) and should not affect its shares.

Analysts Set New Price Targets

Several analysts have recently commented on AXON shares. UBS Group increased their price objective on Axon Enterprise from $440.00 to $600.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Zacks Research raised Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Needham & Company LLC reaffirmed a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Barclays upped their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, Citigroup reissued a "market outperform" rating on shares of Axon Enterprise in a research report on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus price target of $707.07.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company's portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.

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