Corient IA LLC Purchases New Holdings in Axon Enterprise, Inc $AXON

Key Points

• Corient IA LLC has made a new investment of $789,000 in Axon Enterprise, acquiring 1,500 shares of the stock.
• A number of institutional investors, including TCTC Holdings and Bartlett & CO., have significantly increased their stakes in Axon Enterprise, showing growing confidence in the company.
• Axon Enterprise reported a 32.6% year-over-year increase in quarterly revenue, beating analysts' expectations with an EPS of $2.12, surpassing the consensus estimate of $1.54.

Corient IA LLC purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,500 shares of the biotechnology company's stock, valued at approximately $789,000.

Other hedge funds also recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Axon Enterprise during the 1st quarter valued at $1,110,000. Quotient Wealth Partners LLC bought a new stake in Axon Enterprise in the 1st quarter valued at about $438,000. CX Institutional bought a new stake in Axon Enterprise in the 1st quarter valued at about $115,000. GAMMA Investing LLC increased its position in Axon Enterprise by 11.8% in the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after buying an additional 154 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in Axon Enterprise by 5.1% during the 1st quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock worth $494,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Down 4.2%

NASDAQ AXON traded down $33.33 during mid-day trading on Tuesday, reaching $758.29. The stock had a trading volume of 652,727 shares, compared to its average volume of 816,362. 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, Inc has a 1 year low of $346.71 and a 1 year high of $885.91. The stock has a market cap of $59.53 billion, a PE ratio of 187.23, a price-to-earnings-growth ratio of 29.05 and a beta of 1.36. The company has a fifty day moving average price of $773.92 and a 200 day moving average price of $671.99.

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

Analyst Ratings Changes

AXON has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. The Goldman Sachs Group upped their price objective on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Northland Securities set a $800.00 target price on Axon Enterprise in a research report on Tuesday, August 5th. Wolfe Research initiated coverage on Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating on the stock. Finally, Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the company an "overweight" rating in a research note 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's stock. Based on data from MarketBeat.com, Axon Enterprise presently has an average rating of "Moderate Buy" and a consensus target price of $837.69.

Insider Buying and Selling

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction on 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 in the company, valued at $2,538,744,696.78. The trade was a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Cameron Brooks sold 3,000 shares of the business's stock in a transaction on 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. The trade was a 13.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,695 shares of company stock worth $40,964,638 in the last three months. Corporate insiders own 5.70% of the company's stock.

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.