HighTower Advisors LLC Has $32.94 Million Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• HighTower Advisors LLC reduced its stake in Axon Enterprise by 6.9%, selling 4,615 shares, and now owns 62,636 shares valued at approximately $32.9 million.
• Research analysts have raised their price targets for Axon Enterprise, with Goldman Sachs increasing its target from $730 to $830 and Craig Hallum upgrading it to $900.
• CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise for approximately $8.31 million, reducing his ownership by 0.33%.

HighTower Advisors LLC cut its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 6.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,636 shares of the biotechnology company's stock after selling 4,615 shares during the period. HighTower Advisors LLC owned 0.08% of Axon Enterprise worth $32,943,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXON. Vanguard Group Inc. lifted its position in Axon Enterprise by 2.2% during the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock valued at $4,540,005,000 after buying an additional 185,571 shares in the last quarter. Capital World Investors increased its holdings in Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after purchasing an additional 841,772 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in 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 in the last quarter. GAMMA Investing LLC raised its position in Axon Enterprise by 58,725.5% in 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 period. Finally, Northern Trust Corp lifted its stake in shares of Axon Enterprise by 19.8% during the fourth quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock worth $426,083,000 after purchasing an additional 118,469 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AXON shares. Craig Hallum upgraded Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a report on Tuesday, August 5th. Raymond James Financial reaffirmed an "outperform" rating and issued a $855.00 price objective (up previously from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Northland Securities set a $800.00 target price on shares of Axon Enterprise in a research note on Tuesday, August 5th. Needham & Company LLC set a $870.00 price target on shares of Axon Enterprise and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Bank of America boosted their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $837.69.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON traded down $27.79 on Tuesday, hitting $763.83. 239,807 shares of the company were exchanged, compared to its average volume of 709,543. 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's 50 day moving average price is $774.01 and its two-hundred day moving average price is $671.39. Axon Enterprise, Inc has a one year low of $346.71 and a one year high of $885.91. The firm has a market capitalization of $59.96 billion, a price-to-earnings ratio of 188.60, a PEG ratio of 27.68 and a beta of 1.36.

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

Insiders Place Their Bets

In related news, President Joshua Isner sold 15,919 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $746.26, for a total value of $11,879,712.94. Following the transaction, the president directly owned 238,379 shares in the company, valued at approximately $177,892,712.54. This represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer H. Mak sold 75 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $771.81, for a total transaction of $57,885.75. Following the completion of the sale, the chief accounting officer directly owned 15,240 shares of the company's stock, valued at $11,762,384.40. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,695 shares of company stock worth $40,964,638 in the last ninety days. 4.40% of the stock is owned by insiders.

Axon Enterprise Company 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.