Envestnet Portfolio Solutions Inc. Increases Stake in Axon Enterprise, Inc $AXON

Envestnet Portfolio Solutions Inc. increased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 239.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,642 shares of the biotechnology company's stock after acquiring an additional 2,568 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Axon Enterprise were worth $2,042,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Axon Enterprise by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock worth $5,319,928,000 after purchasing an additional 53,060 shares during the period. Geode Capital Management LLC grew its stake in shares of Axon Enterprise by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company's stock valued at $1,265,657,000 after buying an additional 35,544 shares during the period. Sands Capital Management LLC increased its holdings in shares of Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock worth $914,047,000 after buying an additional 167,095 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Axon Enterprise by 326.9% in the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock worth $874,463,000 after buying an additional 1,179,038 shares during the period. Finally, Edgewood Management LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth $846,516,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

More Axon Enterprise News

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Connected Devices remain a key growth engine: Strong demand for TASER devices, body cameras and counter-drone equipment is driving rapid growth in Axon’s hardware and connected-products business. This supports the company’s broader ecosystem of cloud software and public-safety services. Will Strength in Connected Devices Unit Continue to Drive AXON's Growth?
• Positive Sentiment: Recent earnings and AI capabilities support the bullish case: Axon exceeded quarterly expectations with adjusted EPS of $1.88 versus $1.84 expected and revenue of approximately $904.4 million versus $876.4 million expected. Revenue increased 35.3% year over year, while new AI capabilities could improve the value of Axon’s public-safety platform. Axon Public Safety and New AI Capabilities
• Neutral Sentiment: Technical consolidation follows a sharp advance: AXON had been in a strong uptrend and is now consolidating, leaving investors focused on whether the rally can resume or whether the shares need to reset after their recent gains. Is the Axon Rally Over?
• Negative Sentiment: Valuation is the main pressure point: Analysts note that Axon’s strong growth is already reflected in the stock price. With a very high price-to-earnings ratio, even solid results may not be enough to sustain upward momentum, prompting some investors to downgrade the shares or take profits. Axon Q2 Was Strong but Valuation Concerns Remain
• Negative Sentiment: Insider selling adds a modest sentiment headwind: CEO Patrick Smith sold 9,930 shares for approximately $5.45 million under a pre-arranged Rule 10b5-1 plan. The sale represented only about 0.33% of his holdings, so it is not a major change in insider ownership but may reinforce profit-taking concerns.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AXON shares. Morgan Stanley boosted their price target on Axon Enterprise from $600.00 to $640.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. The Goldman Sachs Group restated a "buy" rating and issued a $715.00 price objective on shares of Axon Enterprise in a report on Thursday, August 6th. Piper Sandler lifted their price objective on Axon Enterprise from $724.00 to $732.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Barclays boosted their target price on Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, Needham & Company LLC restated a "buy" rating on shares of Axon Enterprise in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $730.92.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares in the company, valued at $16,501,640. This represents a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Joshua Isner sold 13,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president directly owned 169,125 shares of the company's stock, valued at $82,609,106.25. This trade represents a 7.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 68,989 shares of company stock worth $36,016,932. Insiders own 4.20% of the company's stock.

Axon Enterprise Stock Down 5.7%

Shares of NASDAQ AXON opened at $599.78 on Thursday. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $794.29. The company has a market cap of $48.73 billion, a P/E ratio of 248.87, a P/E/G ratio of 12.98 and a beta of 1.39. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $521.48 and a 200 day moving average price of $473.41.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.84 by $0.04. The company had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The firm's revenue was up 35.3% compared to the same quarter last year. During the same period last year, the company posted $2.12 earnings per share. Research analysts anticipate that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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