Hsbc Holdings PLC Purchases 83,375 Shares of Axon Enterprise, Inc $AXON

Key Points

• Hsbc Holdings PLC increased its stake in Axon Enterprise by 46.9%, acquiring an additional 83,375 shares and bringing its total holdings to 261,128 shares, valued at approximately $137.1 million.
• Despite this acquisition, Axon Enterprise's stock recently fell by 4.2%, with its current market price at $758.29, down from a fifty-two week high of $885.91.
• Axon Enterprise reported earnings of $2.12 per share, exceeding analyst estimates of $1.54, along with revenue growth of 32.6% from the previous year.

Hsbc Holdings PLC increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 46.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 261,128 shares of the biotechnology company's stock after acquiring an additional 83,375 shares during the period. Hsbc Holdings PLC owned about 0.34% of Axon Enterprise worth $137,085,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. TCTC Holdings LLC lifted its holdings in Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after buying an additional 24 shares during the period. Fourth Dimension Wealth LLC acquired a new position in Axon Enterprise during the 4th quarter worth about $30,000. Bartlett & CO. Wealth Management LLC lifted its holdings in Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after buying an additional 33 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Axon Enterprise during the 1st quarter worth about $32,000. Finally, Alpine Bank Wealth Management acquired a new position in Axon Enterprise during the 1st quarter worth about $40,000. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Down 4.2%

AXON stock opened at $758.29 on Wednesday. The stock's 50 day simple moving average is $773.92 and its 200 day simple moving average is $671.99. Axon Enterprise, Inc has a fifty-two week low of $346.71 and a fifty-two week high of $885.91. 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 has a market cap of $59.53 billion, a P/E ratio of 187.23, a price-to-earnings-growth ratio of 29.05 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping 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 business had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same period in the prior year, the business earned $1.20 EPS. The firm'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. On average, research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXON has been the topic of several recent research reports. Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. The Goldman Sachs Group lifted their target price on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Northland Securities set a $800.00 target price on Axon Enterprise in a report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price objective on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, UBS Group reissued a "neutral" rating and issued a $840.00 price objective (up from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. 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, Axon Enterprise currently has an average rating of "Moderate Buy" and an average target price of $837.69.

Insider Activity

In related news, Director Hadi Partovi acquired 1,358 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was purchased at an average cost of $740.00 per share, with a total value of $1,004,920.00. Following the acquisition, the director owned 237,938 shares of the company's stock, valued at approximately $176,074,120. This trade represents a 0.57% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey C. Kunins sold 7,891 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the sale, the insider directly owned 144,538 shares of the company's stock, valued at $108,417,953.80. This represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,790 shares of company stock worth $33,654,451. Company 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.

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