Champlain Investment Partners LLC Cuts Position in Axon Enterprise, Inc $AXON

Key Points

• Champlain Investment Partners LLC reduced its stake in Axon Enterprise, Inc by 6.9%, bringing its holdings to 161,080 shares, valued at approximately $84.72 million.
• Major investors, including GAMMA Investing LLC and Jennison Associates LLC, significantly increased their stakes in Axon, with GAMMA raising its holdings by an astounding 58,725.5% to 764,731 shares.
• Axon Enterprise reported earnings of $2.12 per share, surpassing analysts' expectations of $1.54, alongside a revenue of $668.54 million for the quarter, indicating a year-over-year growth of 32.6%.

Champlain Investment Partners LLC trimmed its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,080 shares of the biotechnology company's stock after selling 11,905 shares during the quarter. Champlain Investment Partners LLC owned 0.21% of Axon Enterprise worth $84,720,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG lifted its position in Axon Enterprise by 28.1% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 7,842 shares of the biotechnology company's stock valued at $4,124,000 after acquiring an additional 1,719 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of Axon Enterprise by 7.0% during the first quarter. Ieq Capital LLC now owns 3,368 shares of the biotechnology company's stock valued at $1,771,000 after purchasing an additional 219 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Axon Enterprise by 9.9% during the first quarter. CreativeOne Wealth LLC now owns 4,748 shares of the biotechnology company's stock valued at $2,497,000 after purchasing an additional 429 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Axon Enterprise by 2.5% during the first quarter. Rafferty Asset Management LLC now owns 37,748 shares of the biotechnology company's stock valued at $19,854,000 after purchasing an additional 909 shares in the last quarter. Finally, Taikang Asset Management Hong Kong Co Ltd bought a new position in shares of Axon Enterprise during the first quarter valued at $1,503,000. 79.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AXON shares. JPMorgan Chase & Co. upped their price target on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. UBS Group reissued a "neutral" rating and issued a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. JMP Securities increased their target price on Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a report on Tuesday, July 22nd. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a report on Tuesday, August 5th. Finally, Barclays increased their target price on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $837.69.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON traded down $34.61 during trading on Friday, hitting $747.29. The company had a trading volume of 583,191 shares, compared to its average volume of 704,552. The stock has a 50 day simple moving average of $772.14 and a 200 day simple moving average of $677.21. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. Axon Enterprise, Inc has a 12 month low of $346.71 and a 12 month high of $885.91. The firm has a market capitalization of $58.67 billion, a P/E ratio of 184.52, a price-to-earnings-growth ratio of 27.43 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS 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 firm had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same quarter last year, the company earned $1.20 earnings per share. The business's revenue for the quarter was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Activity

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was 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 in the company, valued at $108,417,953.80. This trade represents a 5.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $831.29, for a total value of $8,312,900.00. Following the transaction, the chief executive officer owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,790 shares of company stock valued at $31,432,171 in the last three months. 4.40% of the stock is currently owned by insiders.

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.