King Luther Capital Management Corp Acquires 110,177 Shares of Axon Enterprise, Inc $AXON

Key Points

• King Luther Capital Management increased its Axon stake by 1,731.8% in the third quarter, adding 110,177 shares to hold 116,539 shares valued at about $49.2 million. Institutional investors collectively own 79.08% of the company.
• Analysts maintain a Moderate Buy consensus, with 13 Buy and four Hold ratings and an average price target of $612.18; some analysts recently lowered their targets.
• Axon’s third-quarter results fell short of expectations: earnings per share were $1.72 versus $1.89 expected, and revenue was $908.55 million versus $934.33 million expected, though revenue grew 27.8% year over year.

King Luther Capital Management Corp grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 1,731.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 116,539 shares of the biotechnology company's stock after buying an additional 110,177 shares during the period. King Luther Capital Management Corp owned 0.14% of Axon Enterprise worth $49,240,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. M & L Capital Management Ltd purchased a new position in shares of Axon Enterprise in the 3rd quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Axon Enterprise in the second quarter valued at approximately $31,000. Wealth Enhancement Trust Services Inc. purchased a new stake in shares of Axon Enterprise during the third quarter worth approximately $33,000. Putney Financial Group LLC purchased a new stake in shares of Axon Enterprise during the third quarter worth approximately $36,000. Finally, Washington Trust Advisors Inc. lifted its holdings in shares of Axon Enterprise by 1,300.0% during the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock worth $39,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Wall Street Analyst Weigh In

AXON has been the topic of a number of analyst reports. Citigroup reiterated a "market outperform" rating on shares of Axon Enterprise in a research report on Monday, November 2nd. TD Cowen cut their price objective on shares of Axon Enterprise from $825.00 to $800.00 and set a "buy" rating for the company in a research report on Monday, October 26th. Piper Sandler restated an "overweight" rating and issued a $540.00 target price (down from $561.00) on shares of Axon Enterprise in a research note on Friday, November 6th. Raymond James Financial set a $675.00 target price on shares of Axon Enterprise in a report on Thursday, October 15th. Finally, Northland Securities set a $540.00 price target on shares of Axon Enterprise in a research note on Friday, November 6th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $612.18.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $315.42 on Thursday. Axon Enterprise, Inc has a one year low of $291.45 and a one year high of $665.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.60 and a current ratio of 3.00. The business has a fifty day moving average of $426.24 and a two-hundred day moving average of $470.65. The company has a market cap of $25.68 billion, a P/E ratio of 101.10, a price-to-earnings-growth ratio of 5.75 and a beta of 1.48.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Thursday, November 5th. The biotechnology company reported $1.72 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.17). Axon Enterprise had a return on equity of 3.87% and a net margin of 7.56%. The company had revenue of $908.55 million for the quarter, compared to analysts' expectations of $934.33 million. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Axon Enterprise's revenue for the quarter was up 27.8% on a year-over-year basis. As a group, analysts predict that Axon Enterprise, Inc will post 2.10 earnings per share for the current fiscal year.

Latest Axon Enterprise News

Investors following AXON have been watching these news items:

• Positive Sentiment: Northland maintained a $540 price target despite Axon’s steep decline from its August high, signaling that at least one analyst sees meaningful potential upside. A price target is an estimate, not a guarantee. Axon Is Down 52% From Its August High. Northland Still Sees $540
• Negative Sentiment: Axon’s third-quarter adjusted EPS missed Wall Street expectations, and cautious guidance contributed to a sharp share decline. The company also said federal contract delays shifted $130 million of revenue out of 2026, weighing on near-term expectations. Axon vs. Motorola: Which Public Safety Stock Has More Upside After Q3 Earnings?
• Negative Sentiment: Several law firms have announced investigations into potential securities-law claims related to Axon’s earnings report. These are allegations under investigation, not findings of wrongdoing, but add a source of uncertainty for investors. Levi & Korsinsky investor investigation notice

Insider Activity at Axon Enterprise

In related news, insider Isaiah Fields sold 1,017 shares of the business's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction of $488,617.65. Following the sale, the insider owned 56,264 shares of the company's stock, valued at approximately $27,032,038.80. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the company's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the transaction, the president owned 296,974 shares in the company, valued at $170,590,774.82. The trade was a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 37,397 shares of company stock worth $21,234,034 in the last ninety days. Corporate insiders own 4.20% of the company's stock.

About Axon Enterprise

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals. The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.

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