Axon Enterprise, Inc $AXON Shares Sold by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC reduced its stake in Axon Enterprise by 5.8%, selling 937 shares, bringing its total holdings to 15,276 shares valued at approximately $8.03 million.
• Significant increases were seen from other institutional investors like GAMMA Investing LLC, which raised its holdings by over 58,000%, owning 764,731 shares worth $402.21 million.
• Axon reported a strong earnings quarter, achieving an EPS of $2.12 which surpassed analysts' expectations, with revenue increasing by 32.6% year-over-year.

Integrated Wealth Concepts LLC trimmed its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,276 shares of the biotechnology company's stock after selling 937 shares during the period. Integrated Wealth Concepts LLC's holdings in Axon Enterprise were worth $8,034,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Axon Enterprise during the first quarter valued at $1,110,000. Quotient Wealth Partners LLC purchased a new position in Axon Enterprise during the first quarter valued at $438,000. CX Institutional purchased a new position in Axon Enterprise during the first quarter valued at $115,000. GAMMA Investing LLC lifted its holdings in Axon Enterprise by 11.8% during the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after purchasing an additional 154 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in shares of Axon Enterprise by 5.1% in the first quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock worth $494,000 after buying an additional 46 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, August 11th. The shares were 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 of the company's stock, valued at $2,538,744,696.78. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hadi Partovi purchased 1,358 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were bought at an average price of $740.00 per share, with a total value of $1,004,920.00. Following the completion of the transaction, the director owned 237,938 shares of the company's stock, valued at approximately $176,074,120. The trade was a 0.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 34,865 shares of company stock valued at $26,926,433 over the last ninety days. Corporate insiders own 5.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AXON. Wolfe Research began coverage on shares of Axon Enterprise in a research note on Monday, July 7th. They issued an "outperform" rating on the stock. JPMorgan Chase & Co. raised 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. Raymond James Financial reissued an "outperform" rating and issued a $855.00 price target (up from $645.00) 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, Northland Securities set a $800.00 price target 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 three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Trading Down 1.2%

AXON stock traded down $8.63 during trading on Tuesday, reaching $731.98. 311,712 shares of the stock were exchanged, compared to its average volume of 690,070. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $764.18 and a 200-day moving average price of $682.14. Axon Enterprise, Inc has a 1 year low of $353.91 and a 1 year high of $885.91. The firm has a market capitalization of $57.46 billion, a price-to-earnings ratio of 180.74, a P/E/G ratio of 26.73 and a beta of 1.40.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. 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 firm earned $1.20 earnings per share. Axon Enterprise's quarterly revenue was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. On average, research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

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.