Jag Capital Management LLC Sells 13,198 Shares of Axon Enterprise, Inc $AXON

Key Points

• Jag Capital Management LLC reduced its stakes in Axon Enterprise, Inc by 32.7%, selling 13,198 shares, and now holds 27,155 shares valued at approximately $22.48 million.
• Notable insider activity includes President Joshua Isner selling 15,919 shares for nearly $11.88 million, and CEO Patrick W. Smith selling 10,000 shares valued at $8.31 million.
• Axon Enterprise's stock has a current valuation of $55.74 billion, with a PE ratio of 175.31 and revenue growth of 32.6% year-over-year.

Jag Capital Management LLC trimmed its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 32.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,155 shares of the biotechnology company's stock after selling 13,198 shares during the period. Axon Enterprise comprises about 2.5% of Jag Capital Management LLC's portfolio, making the stock its 12th largest position. Jag Capital Management LLC's holdings in Axon Enterprise were worth $22,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its holdings in shares of Axon Enterprise by 23,203.7% in the 1st quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock valued at $322,961,000 after buying an additional 611,418 shares in the last quarter. Nuveen LLC bought a new stake in shares of Axon Enterprise in the 1st quarter valued at about $264,796,000. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Axon Enterprise in the 2nd quarter valued at about $255,833,000. Westfield Capital Management Co. LP boosted its holdings in shares of 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 buying an additional 212,931 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Axon Enterprise by 2.2% in the 1st 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. 79.08% of the stock is currently owned by institutional investors.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 15,919 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the completion of the transaction, the president directly owned 238,379 shares of the company's stock, valued at approximately $177,892,712.54. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the firm's 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 transaction, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,932 shares of company stock worth $45,115,616 in the last ninety days. 5.70% of the stock is owned by company insiders.

Axon Enterprise Stock Up 1.0%

AXON stock opened at $710.00 on Tuesday. The firm has a 50 day moving average of $754.87 and a 200 day moving average of $716.06. The stock has a market capitalization of $55.74 billion, a PE ratio of 175.31, a price-to-earnings-growth ratio of 27.30 and a beta of 1.41. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a 52 week low of $422.38 and a 52 week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released 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. The company had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise's revenue for the quarter was up 32.6% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target on the stock in a report on Tuesday, August 5th. Northland Securities set a $800.00 price target on shares of Axon Enterprise in a report on Tuesday, August 5th. Weiss Ratings restated a "hold (c)" rating on shares of Axon Enterprise in a report on Wednesday, October 8th. Needham & Company LLC restated a "buy" rating and issued a $870.00 price target on shares of Axon Enterprise in a report on Wednesday, September 24th. Finally, UBS Group restated a "neutral" rating and issued a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $841.64.

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.

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