Hyperion Asset Management Ltd Acquires Shares of 92,479 Axon Enterprise, Inc $AXON

Key Points

• Hyperion Asset Management Ltd acquired 92,479 shares of Axon Enterprise, Inc (NASDAQ:AXON), valued at approximately $76.57 million, making it the firm's 15th largest holding.
• Significant investments were made by other institutional investors, with GAMMA Investing LLC increasing its holdings by over 58,000% in Axon Enterprise during the first quarter, showcasing growing interest in the stock.
• Analysts have a consensus rating of “Moderate Buy” on Axon Enterprise, with the average price target set at $837.69, reflecting positive sentiment in the market.

Hyperion Asset Management Ltd acquired a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 92,479 shares of the biotechnology company's stock, valued at approximately $76,567,000. Axon Enterprise makes up about 2.4% of Hyperion Asset Management Ltd's investment portfolio, making the stock its 15th largest holding. Hyperion Asset Management Ltd owned 0.12% of Axon Enterprise at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AXON. 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 in the last quarter. Jennison Associates LLC increased 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 worth $322,961,000 after purchasing an additional 611,418 shares during the last quarter. Nuveen LLC acquired a new stake in Axon Enterprise during the first quarter worth about $264,796,000. Westfield Capital Management Co. LP increased its position in 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 worth $487,977,000 after purchasing an additional 212,931 shares during the last quarter. Finally, Vanguard Group Inc. increased 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 worth $4,540,005,000 after purchasing an additional 185,571 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axon Enterprise

In related news, Director Jeri Williams sold 100 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $752.54, for a total value of $75,254.00. Following the completion of the sale, the director owned 1,416 shares in the company, valued at $1,065,596.64. This represents a 6.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $743.64, for a total transaction of $7,436,400.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 44,932 shares of company stock worth $34,408,816 over the last 90 days. Company insiders own 5.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JMP Securities raised their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 22nd. Northland Securities set a $800.00 price objective on shares of Axon Enterprise in a research report on Tuesday, August 5th. Wolfe Research initiated coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They set an "outperform" rating for the company. Needham & Company LLC set a $870.00 price target on shares of Axon Enterprise and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Zacks Research cut shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $837.69.

Axon Enterprise Stock Up 0.2%

Shares of NASDAQ:AXON opened at $775.92 on Tuesday. The company has a market capitalization of $60.91 billion, a PE ratio of 191.59, a P/E/G ratio of 28.43 and a beta of 1.40. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a twelve month low of $388.36 and a twelve month high of $885.91. The firm has a 50 day simple moving average of $760.48 and a 200-day simple moving average of $698.43.

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 for the quarter, topping the consensus estimate of $1.54 by $0.58. The business had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The company's revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. On average, equities analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

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.

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