Corebridge Financial Inc. Sells 848 Shares of Axon Enterprise, Inc $AXON

Key Points

• Corebridge Financial Inc. has reduced its stake in Axon Enterprise, Inc by 3.5%, bringing its holdings to 23,291 shares valued at approximately $12.25 million.
• Insider sales include the company's Director Michael Garnreiter selling 5,913 shares and President Joshua Isner selling 15,919 shares, indicating a significant decrease in their ownership positions.
• Analysts have a consensus price target of $837.69 for Axon Enterprise, with the majority rating the stock as a "Moderate Buy."

Corebridge Financial Inc. reduced its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,291 shares of the biotechnology company's stock after selling 848 shares during the period. Corebridge Financial Inc.'s holdings in Axon Enterprise were worth $12,250,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Axon Enterprise by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock valued at $4,540,005,000 after purchasing an additional 185,571 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of 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 purchasing an additional 212,931 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 763,431 shares during the period. Northern Trust Corp boosted its position in shares of Axon Enterprise by 1.2% in the 1st quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company's stock valued at $381,692,000 after purchasing an additional 8,794 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Axon Enterprise by 23,203.7% in the 1st quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock valued at $322,961,000 after purchasing an additional 611,418 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Axon Enterprise

In other news, Director Hadi Partovi bought 1,358 shares of the stock in a transaction dated Wednesday, August 13th. The shares were bought at an average price of $740.00 per share, for a total transaction of $1,004,920.00. Following the completion of the purchase, the director owned 237,938 shares in the company, valued at approximately $176,074,120. This trade represents a 0.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey C. Kunins sold 7,891 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the transaction, the insider owned 144,538 shares in the company, valued at approximately $108,417,953.80. This trade represents a 5.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,790 shares of company stock valued at $31,432,171. Company insiders own 4.40% of the company's stock.

Axon Enterprise Price Performance

Axon Enterprise stock traded down $34.61 on Friday, reaching $747.29. The company's stock had a trading volume of 583,191 shares, compared to its average volume of 704,552. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The company has a market cap of $58.67 billion, a price-to-earnings ratio of 184.52, a PEG ratio of 27.43 and a beta of 1.36. The business's fifty day moving average price is $772.14 and its 200 day moving average price is $677.21. Axon Enterprise, Inc has a twelve month low of $346.71 and a twelve month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. The company had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The firm's quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. Equities analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AXON. The Goldman Sachs Group raised their price objective on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. JMP Securities raised their price target on Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. 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. Finally, Morgan Stanley set a $885.00 price target on Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday, July 11th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.