Axon Enterprise, Inc $AXON Shares Bought by Berkshire Capital Holdings Inc.

Key Points

• Berkshire Capital Holdings Inc. significantly increased its stake in Axon Enterprise, acquiring an additional 15,760 shares, bringing its total ownership to 15,770 shares, valued at approximately $8.29 million.
• Insider trading activity revealed that executives sold over 54,995 shares of Axon stock worth nearly $41.93 million in the last ninety days, indicating a significant reduction in their holdings.
• A recent earnings report showed Axon Enterprise posted $2.12 earnings per share, exceeding analysts' expectations, with revenue increasing by 32.6% year-over-year.

Berkshire Capital Holdings Inc. increased its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 157,600.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,770 shares of the biotechnology company's stock after purchasing an additional 15,760 shares during the period. Axon Enterprise makes up about 4.0% of Berkshire Capital Holdings Inc.'s investment portfolio, making the stock its 15th largest position. Berkshire Capital Holdings Inc.'s holdings in Axon Enterprise were worth $8,294,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AXON. Capital World Investors increased its holdings in shares of Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after buying an additional 841,772 shares during the last quarter. GAMMA Investing LLC grew its position in 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 stake in Axon Enterprise by 23,203.7% during 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 during the last quarter. Nuveen LLC bought a new stake in Axon Enterprise during the first quarter worth approximately $264,796,000. Finally, Westfield Capital Management Co. LP raised its position in Axon Enterprise by 29.8% during 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 purchasing an additional 212,931 shares during the period. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insiders Place Their Bets

In other news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the transaction, the chief executive officer directly owned 3,053,982 shares in the company, valued at approximately $2,538,744,696.78. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Joshua Isner sold 15,919 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the completion of the transaction, the president directly owned 238,379 shares of the company's stock, 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. In the last 90 days, insiders have sold 53,695 shares of company stock worth $40,964,638. 5.70% of the stock is owned by corporate insiders.

Axon Enterprise Trading Down 4.2%

Shares of NASDAQ AXON traded down $33.33 during trading hours on Tuesday, reaching $758.29. The stock had a trading volume of 652,727 shares, compared to its average volume of 816,362. Axon Enterprise, Inc has a 52-week low of $346.71 and a 52-week high of $885.91. The firm has a market cap of $59.53 billion, a price-to-earnings ratio of 187.23, a P/E/G ratio of 29.05 and a beta of 1.36. The business's fifty day moving average price is $773.92 and its two-hundred day moving average price is $671.99. 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 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. The business had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The business's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. Analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on AXON shares. Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. Barclays lifted their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Needham & Company LLC set a $870.00 target price on shares of Axon Enterprise and gave the company a "buy" rating in a research note on Tuesday, August 5th. Bank of America lifted 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. Finally, Raymond James Financial reiterated an "outperform" rating and set a $855.00 price target (up from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Axon Enterprise presently has an average rating of "Moderate Buy" and a consensus 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.