Canada Pension Plan Investment Board Increases Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Canada Pension Plan Investment Board has increased its stake in Axon Enterprise, Inc by 54.7%, owning approximately 0.10% of the company valued at $41.73 million after purchasing an additional 28,061 shares.
• Wall Street analysts have set a new price target range for Axon Enterprise shares, with JMP Securities raising theirs from $725.00 to $825.00 and JPMorgan Chase increasing theirs from $730.00 to $850.00, indicating strong expected growth.
• Axon Enterprise's recent earnings report showed an earnings per share of $2.12, surpassing estimates and marking a 32.6% year-over-year revenue growth.

Canada Pension Plan Investment Board raised its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 54.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 79,347 shares of the biotechnology company's stock after purchasing an additional 28,061 shares during the quarter. Canada Pension Plan Investment Board owned 0.10% of Axon Enterprise worth $41,733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXON. Fourth Dimension Wealth LLC acquired a new position in Axon Enterprise in the fourth quarter valued at approximately $30,000. TCTC Holdings LLC lifted its stake in shares of Axon Enterprise by 75.0% in the 1st 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 last quarter. Bartlett & CO. Wealth Management LLC increased its position 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 during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Axon Enterprise in the 1st quarter valued at about $32,000. Finally, Alpine Bank Wealth Management acquired a new position in Axon Enterprise in the first quarter valued at about $40,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AXON. JPMorgan Chase & Co. upped their price objective on Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Raymond James Financial reaffirmed 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. Barclays raised their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Craig Hallum raised 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. Finally, Northland Securities set a $800.00 target price on shares of Axon Enterprise in a research report on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

Insider Activity

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the completion of the transaction, the insider owned 144,538 shares of the company's stock, valued at $108,417,953.80. The trade was a 5.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise 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 completion of the transaction, the chief executive officer owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,865 shares of company stock valued at $26,926,433. 5.70% of the stock is currently owned by company insiders.

Axon Enterprise Trading Up 0.7%

AXON traded up $5.06 during trading on Thursday, hitting $730.35. 172,850 shares of the company's stock were exchanged, compared to its average volume of 693,185. Axon Enterprise, Inc has a 1 year low of $346.71 and a 1 year high of $885.91. The stock has a 50 day moving average price of $769.21 and a 200 day moving average price of $678.53. The firm has a market cap of $57.33 billion, a P/E ratio of 180.33, a price-to-earnings-growth ratio of 27.43 and a beta of 1.40. 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 announced its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.58. The firm had revenue of $668.54 million during 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%.Axon Enterprise's quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal 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.