Axon Enterprise, Inc $AXON Shares Sold by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. reduced its stake in Axon Enterprise, Inc by 16.7%, now holding 1,948 shares valued at approximately $1,025,000.
• Insider transactions include Director Hadi Partovi buying 1,358 shares, while CEO Patrick W. Smith sold 10,000 shares of the company's stock.
• Analysts have raised price targets for Axon Enterprise, with Barclays setting a new target of $735.00 and Raymond James raising theirs to $855.00, reflecting positive sentiment on the stock.

Graham Capital Management L.P. lessened its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 16.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,948 shares of the biotechnology company's stock after selling 391 shares during the quarter. Graham Capital Management L.P.'s holdings in Axon Enterprise were worth $1,025,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Axon Enterprise by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after buying an additional 185,571 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock valued at $487,977,000 after buying an additional 212,931 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Axon Enterprise by 58,725.5% during the first 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 last quarter. Northern Trust Corp grew its position in Axon Enterprise by 1.2% during the first quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company's stock valued at $381,692,000 after acquiring an additional 8,794 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Axon Enterprise by 23,203.7% during the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock valued at $322,961,000 after buying an additional 611,418 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AXON. Zacks Research cut Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. upped their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Northland Securities set a $800.00 price objective on Axon Enterprise in a research report on Tuesday, August 5th. Bank of America increased their price objective on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Wolfe Research initiated coverage on shares of Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating for the company. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and an average price target of $837.69.

Axon Enterprise Price Performance

Shares of AXON traded up $11.92 during trading hours on Monday, hitting $740.33. 394,248 shares of the company were exchanged, compared to its average volume of 690,923. The company has a market cap of $58.12 billion, a price-to-earnings ratio of 182.80, a P/E/G ratio of 26.73 and a beta of 1.40. The firm's fifty day moving average is $765.93 and its 200 day moving average is $680.55. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a fifty-two week low of $353.91 and a fifty-two week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. The firm had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The company's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. On average, equities analysts anticipate 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, CAO Jennifer H. Mak sold 75 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $723.50, for a total transaction of $54,262.50. Following the completion of the transaction, the chief accounting officer directly owned 15,080 shares of the company's stock, valued at $10,910,380. This trade represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the transaction, the chief executive officer directly owned 3,053,982 shares in the company, valued at $2,538,744,696.78. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,865 shares of company stock valued at $26,926,433. 5.70% of the stock is owned by company insiders.

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.