Axon Enterprise, Inc $AXON Shares Sold by Diversified Trust Co

Key Points

• Diversified Trust Co reduced its stake in Axon Enterprise by 16.6%, now holding approximately $8.63 million worth of shares after selling 2,074 shares during the second quarter.
• Several institutional investors, including GAMMA Investing LLC and Jennison Associates LLC, significantly increased their holdings in Axon Enterprise during the first quarter, reflecting growing investor interest.
• Axon Enterprise reported a strong quarterly earnings performance, with an earnings per share of $2.12, surpassing analysts' estimates and representing an annual revenue growth of 32.6%.

Diversified Trust Co decreased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 16.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,418 shares of the biotechnology company's stock after selling 2,074 shares during the period. Diversified Trust Co's holdings in Axon Enterprise were worth $8,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC bought a new position in Axon Enterprise in the fourth quarter valued at approximately $480,000. Woodline Partners LP bought a new stake in Axon Enterprise during the 4th quarter worth about $2,929,000. Waverly Advisors LLC bought a new stake in shares of Axon Enterprise in the 4th quarter valued at about $596,000. Fourth Dimension Wealth LLC bought a new stake in shares of Axon Enterprise in the 4th quarter valued at about $30,000. Finally, GF Fund Management CO. LTD. acquired a new position in Axon Enterprise in the 4th quarter valued at about $4,656,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Wall Street Analyst Weigh In

AXON has been the subject of several analyst reports. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target for the company in a research note on Tuesday, August 5th. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the company an "overweight" rating in a research report on Friday, July 11th. Northland Securities set a $800.00 target price on shares of Axon Enterprise in a report on Tuesday, August 5th. Needham & Company LLC set a $870.00 price objective on shares of Axon Enterprise and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Stock Down 0.3%

Shares of NASDAQ:AXON traded down $2.33 during trading hours on Tuesday, reaching $773.59. The stock had a trading volume of 94,647 shares, compared to its average volume of 681,240. 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 firm's 50 day moving average is $760.48 and its 200-day moving average is $698.43. The stock has a market capitalization of $60.73 billion, a price-to-earnings ratio of 191.01, a P/E/G ratio of 28.43 and a beta of 1.40. Axon Enterprise, Inc has a 1 year low of $388.36 and a 1 year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $641.77 million. During the same period last year, the firm posted $1.20 EPS. Axon Enterprise's revenue for the quarter was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. Research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axon Enterprise news, President Joshua Isner sold 15,919 shares of Axon Enterprise stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this link. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $743.64, for a total transaction of $7,436,400.00. Following the sale, the chief executive officer owned 3,043,982 shares of the company's stock, valued at approximately $2,263,626,774.48. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,932 shares of company stock worth $34,408,816. 5.70% of the stock is currently owned by insiders.

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.