Conestoga Capital Advisors LLC Decreases Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Conestoga Capital Advisors LLC significantly reduced its holdings in Axon Enterprise, Inc by 98.5%, selling 29,903 shares, and now holds only 445 shares valued at approximately $368,000.
• Insider transactions reveal that both CEO Patrick W. Smith and CFO Brittany Bagley sold substantial amounts of stock, reducing their ownership by 0.33% and 5.07% respectively.
• Despite recent insider sales, analysts maintain a positive outlook on Axon, with numerous firms issuing buy ratings and setting price targets between $825.00 and $893.00.

Conestoga Capital Advisors LLC trimmed its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 98.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 445 shares of the biotechnology company's stock after selling 29,903 shares during the quarter. Conestoga Capital Advisors LLC's holdings in Axon Enterprise were worth $368,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TCTC Holdings LLC lifted its position 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 buying an additional 24 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its holdings in Axon Enterprise by 132.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after buying an additional 33 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Axon Enterprise during the 1st quarter worth approximately $31,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Axon Enterprise during the 1st quarter worth approximately $32,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Axon Enterprise during the 1st quarter worth approximately $33,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $713.74, for a total transaction of $7,137,400.00. Following the sale, the chief executive officer owned 3,033,982 shares of the company's stock, valued at $2,165,474,312.68. The trade was a 0.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brittany Bagley sold 5,000 shares of Axon Enterprise stock in a transaction on Monday, September 29th. The stock was sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the sale, the chief financial officer directly owned 93,592 shares in the company, valued at approximately $66,813,456.96. This trade represents a 5.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,932 shares of company stock worth $45,115,616 over the last 90 days. Corporate insiders own 5.70% of the company's stock.

Axon Enterprise Trading Up 2.8%

Shares of AXON opened at $670.68 on Monday. Axon Enterprise, Inc has a 52-week low of $422.38 and a 52-week high of $885.91. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The firm's fifty day moving average is $739.44 and its two-hundred day moving average is $719.61. The stock has a market cap of $52.65 billion, a PE ratio of 165.60, a price-to-earnings-growth ratio of 26.04 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) 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 company posted $1.20 EPS. The firm's quarterly revenue was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. Research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $825.00 price objective on shares of Axon Enterprise in a research note on Monday, September 29th. Morgan Stanley set a $885.00 price objective on shares of Axon Enterprise and gave the stock an "overweight" rating in a research note on Friday, July 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $870.00 price objective on shares of Axon Enterprise in a research note on Wednesday, September 24th. Piper Sandler started coverage on shares of Axon Enterprise in a research note on Tuesday, September 23rd. They issued an "overweight" rating and a $893.00 price target on the stock. Finally, Zacks Research cut shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $841.64.

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.

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