Charles Schwab Investment Management Inc. Buys 23,034 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Axon Enterprise, holding 472,541 shares valued at approximately $248.53 million after acquiring an additional 23,034 shares in the first quarter.
• Insider activity saw CRO Cameron Brooks and Director Michael Garnreiter each selling significant portions of their stock, with Brooks selling 3,000 shares and Garnreiter selling 5,913 shares, marking a decrease in their holdings.
• Several analysts have raised price targets for Axon Enterprise, with Raymond James setting a target of $855, reflecting increased optimism about the company's financial performance and future growth.

Charles Schwab Investment Management Inc. grew its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 472,541 shares of the biotechnology company's stock after buying an additional 23,034 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.61% of Axon Enterprise worth $248,533,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXON. Vanguard Group Inc. raised its position in shares of Axon Enterprise by 2.2% during the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after purchasing an additional 185,571 shares during the period. Capital World Investors raised its position in Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after buying an additional 841,772 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Axon Enterprise by 29.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock valued at $487,977,000 after buying an additional 212,931 shares during the last quarter. GAMMA Investing LLC raised its position in Axon Enterprise by 58,725.5% in the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock valued at $402,210,000 after buying an additional 763,431 shares during the last quarter. Finally, Northern Trust Corp raised its position in Axon Enterprise by 19.8% in the 4th quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock valued at $426,083,000 after buying an additional 118,469 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Stock Performance

Shares of AXON stock traded down $3.05 on Wednesday, hitting $765.52. 1,117,073 shares of the stock were exchanged, compared to its average volume of 711,672. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $60.10 billion, a PE ratio of 189.02, a P/E/G ratio of 30.05 and a beta of 1.36. Axon Enterprise, Inc has a one year low of $346.71 and a one year high of $885.91. The firm's 50 day moving average is $775.67 and its two-hundred day moving average is $667.61.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results 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 business had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. During the same quarter last year, the company earned $1.20 EPS. The firm's revenue was up 32.6% compared to the same quarter last year. Sell-side analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Cameron Brooks sold 3,000 shares of Axon Enterprise stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the sale, the executive owned 19,447 shares in the company, valued at approximately $14,405,559.72. This trade represents a 13.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated 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 sale, the chief executive officer owned 3,053,982 shares of the company's stock, valued at approximately $2,538,744,696.78. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,185 shares of company stock worth $24,126,378 over the last quarter. Insiders own 5.70% of the company's stock.

Analyst Ratings Changes

AXON has been the subject of a number of analyst reports. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target for the company in a research report on Tuesday, August 5th. UBS Group reissued a "neutral" rating and issued a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Needham & Company LLC set a $870.00 price target on Axon Enterprise and gave the company a "buy" rating in a research report on Tuesday, August 5th. JMP Securities increased their price target on Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 22nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $855.00 target price (up from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Profile

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.