International Assets Investment Management LLC Makes New Investment in Axon Enterprise, Inc $AXON

Key Points

• International Assets Investment Management LLC acquired 390 shares of Axon Enterprise, valued at approximately $323,000, marking a new investment in the company.
• During the 1st quarter, several institutional investors, including Vanguard Group and Alliancebernstein, increased their stakes in Axon Enterprise significantly, with 79.08% of the stock now owned by hedge funds and institutional investors.
• Axon Enterprise reported a net revenue of $668.54 million and an EPS of $2.12 for the last quarter, outperforming analysts' estimates, and set guidance for FY 2025 expecting to post 5.8 EPS.

International Assets Investment Management LLC acquired a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 390 shares of the biotechnology company's stock, valued at approximately $323,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Axon Enterprise by 2.2% during the 1st 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 period. Alliancebernstein L.P. boosted its stake in shares of Axon Enterprise by 15.9% during the 1st quarter. Alliancebernstein L.P. now owns 1,284,935 shares of the biotechnology company's stock worth $675,812,000 after purchasing an additional 175,890 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Axon Enterprise by 29.8% during the 1st 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 period. Northern Trust Corp boosted its stake in shares of Axon Enterprise by 1.2% during the 1st quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company's stock worth $381,692,000 after purchasing an additional 8,794 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Axon Enterprise by 23,203.7% during the 1st 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 period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Trading Down 0.8%

NASDAQ:AXON opened at $701.09 on Thursday. Axon Enterprise, Inc has a one year low of $422.38 and a one year 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 firm has a market cap of $55.04 billion, a P/E ratio of 173.11, a P/E/G ratio of 27.46 and a beta of 1.41. The firm has a 50-day simple moving average of $734.21 and a 200-day simple moving average of $720.68.

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

Insider Transactions at Axon Enterprise

In other news, insider Jeffrey C. Kunins sold 7,891 shares of Axon Enterprise stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total value of $5,919,039.10. Following the transaction, the insider owned 144,538 shares of the company's stock, valued at $108,417,953.80. The trade was a 5.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 3,053,982 shares in the company, valued at approximately $2,538,744,696.78. The trade was a 0.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,932 shares of company stock worth $45,115,616. 4.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on shares of Axon Enterprise in a research note on Monday, July 7th. They set an "outperform" rating for the company. JPMorgan Chase & Co. lifted 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 shares of Axon Enterprise in a report on Tuesday, August 5th. Piper Sandler initiated coverage on shares of Axon Enterprise in a report on Tuesday, September 23rd. They set an "overweight" rating and a $893.00 price objective for the company. Finally, Zacks Research lowered shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $841.64.

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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