Comerica Bank Increases Stake in Axon Enterprise, Inc $AXON

Key Points

• Comerica Bank increased its holdings in Axon Enterprise, Inc by 8.2% in the first quarter, acquiring an additional 6,897 shares, bringing its total to 91,215 shares valued at approximately $47.97 million.
• Insider sales included notable transactions by Director Michael Garnreiter and CRO Cameron Brooks, with Garnreiter selling 5,913 shares valued at $4.49 million and Brooks selling 3,000 shares for $2.22 million.
• Analysts have given Axon Enterprise a Moderate Buy rating with price targets ranging from $800 to $900, following solid quarterly earnings that surpassed analysts' expectations.

Comerica Bank increased its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,215 shares of the biotechnology company's stock after buying an additional 6,897 shares during the quarter. Comerica Bank owned 0.12% of Axon Enterprise worth $47,974,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AXON. TCTC Holdings LLC lifted its holdings in 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. Fourth Dimension Wealth LLC purchased a new position in Axon Enterprise during the fourth quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC lifted its holdings in 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 purchased a new position in Axon Enterprise during the first quarter valued at approximately $32,000. Finally, Alpine Bank Wealth Management purchased a new position in Axon Enterprise during the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Price Performance

Shares of AXON stock traded up $0.66 during mid-day trading on Wednesday, hitting $769.68. The company had a trading volume of 327,103 shares, compared to its average volume of 708,595. The stock's 50 day moving average price is $772.52 and its 200-day moving average price is $675.87. Axon Enterprise, Inc has a 52-week low of $346.71 and a 52-week high of $885.91. The company has a market capitalization of $60.42 billion, a P/E ratio of 190.04, a P/E/G ratio of 28.22 and a beta of 1.36. 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 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. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The company had revenue of $668.54 million for the quarter, compared to analysts' expectations of $641.77 million. During the same quarter in the previous year, the business posted $1.20 earnings per share. Axon Enterprise's quarterly revenue was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. Equities research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Buying and Selling

In related news, President Joshua Isner sold 15,919 shares of the business's stock in a transaction on 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 sale, the president owned 238,379 shares in the company, valued at approximately $177,892,712.54. The trade was a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hadi Partovi purchased 1,358 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average price of $740.00 per share, for a total transaction of $1,004,920.00. Following the transaction, the director directly owned 237,938 shares of the company's stock, valued at $176,074,120. The trade was a 0.57% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 43,790 shares of company stock valued at $33,654,451 in the last three months. Corporate insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Bank of America lifted their price target on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Northland Securities set a $800.00 price target on shares of Axon Enterprise in a report on Tuesday, August 5th. Raymond James Financial reaffirmed an "outperform" rating and set a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target on the stock in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Company 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.