City Center Advisors LLC Invests $426,000 in Axon Enterprise, Inc $AXON

Key Points

• City Center Advisors LLC has acquired a new stake in Axon Enterprise, Inc, purchasing 514 shares valued at approximately $426,000 during the second quarter.
• Axon Enterprise's stock performance has shown considerable growth, with a market cap of $59.36 billion and a year-over-year revenue increase of 32.6%.
• Wall Street analysts are optimistic about Axon, with thirteen firms giving it a Buy rating and an average target price of $837.69.

City Center Advisors LLC acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 514 shares of the biotechnology company's stock, valued at approximately $426,000.

Other hedge funds have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in Axon Enterprise in the fourth quarter worth $30,000. TCTC Holdings LLC increased its stake in shares of Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 24 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its stake in shares of Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Axon Enterprise during the first quarter valued at approximately $32,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Axon Enterprise during the first quarter valued at approximately $31,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jeri Williams sold 100 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $752.54, for a total transaction of $75,254.00. Following the transaction, the director owned 1,416 shares of the company's stock, valued at $1,065,596.64. This represents a 6.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Joshua Isner sold 15,919 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $746.26, for a total value of $11,879,712.94. Following the completion of the sale, the president owned 238,379 shares of the company's stock, valued at $177,892,712.54. This represents a 6.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,932 shares of company stock worth $34,408,816 over the last quarter. Corporate insiders own 5.70% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON traded down $10.12 during trading hours on Tuesday, reaching $750.67. 484,540 shares of the company's stock traded hands, compared to its average volume of 424,328. The business's fifty day simple moving average is $759.48 and its two-hundred day simple moving average is $690.43. The firm has a market capitalization of $58.93 billion, a price-to-earnings ratio of 185.35, a P/E/G ratio of 27.92 and a beta of 1.40. Axon Enterprise, Inc has a twelve month low of $376.53 and a twelve month high of $885.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, topping analysts' consensus estimates 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%.The business's quarterly revenue was up 32.6% compared to the same quarter last year. During the same period last year, the company posted $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. Analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Analysts Set New Price Targets

AXON has been the topic of several research reports. Raymond James Financial restated 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. UBS Group reissued a "neutral" rating and issued a $840.00 price objective (up from $820.00) on shares of Axon Enterprise 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. JMP Securities boosted their price objective on shares of 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, Needham & Company LLC set a $870.00 price target on shares of Axon Enterprise and gave the company a "buy" rating in a report on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.