Axon Enterprise, Inc $AXON Shares Purchased by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Axon Enterprise by 166% in Q1, holding shares valued at approximately $1.51 million at the quarter's end.
• Axon Enterprise reported a strong quarterly performance with $2.12 EPS surpassing analysts' expectations of $1.54 and revenue of $668.54 million, indicating a 32.6% year-over-year increase.
• Research analysts have raised their price targets for Axon, with Bank of America setting a target of $1,000, reflecting a growing confidence in the company's stock with a consensus target of $837.69.

Kovitz Investment Group Partners LLC grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 166.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,875 shares of the biotechnology company's stock after buying an additional 1,794 shares during the period. Kovitz Investment Group Partners LLC's holdings in Axon Enterprise were worth $1,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. TCTC Holdings LLC raised its holdings in Axon Enterprise by 75.0% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 24 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Axon Enterprise by 132.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 33 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Axon Enterprise during the first quarter worth approximately $32,000. Finally, Alpine Bank Wealth Management purchased a new position in Axon Enterprise during the first quarter worth approximately $40,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Trading Up 0.4%

Shares of AXON stock traded up $2.73 during trading hours on Friday, hitting $766.24. The company had a trading volume of 395,415 shares, compared to its average volume of 723,383. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. The stock has a market capitalization of $60.15 billion, a PE ratio of 189.20, a price-to-earnings-growth ratio of 28.12 and a beta of 1.36. The company's fifty day moving average is $773.05 and its 200 day moving average is $673.98. Axon Enterprise, Inc has a fifty-two week low of $346.71 and a fifty-two week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.58. The firm 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 firm's revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. Research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of recent research reports. Barclays raised their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. 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. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a research note on Tuesday, August 5th. Raymond James Financial reissued an "outperform" rating and issued a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Finally, UBS Group restated a "neutral" rating and set a $840.00 price target (up previously from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Axon Enterprise currently has a consensus rating of "Moderate Buy" and an average target price of $837.69.

Insiders Place Their Bets

In related news, President Joshua Isner sold 15,919 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the transaction, the president owned 238,379 shares of the company's stock, valued at approximately $177,892,712.54. This represents a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey C. Kunins sold 7,891 shares of the firm's stock in a transaction dated 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. This trade represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,790 shares of company stock valued at $33,654,451. Insiders own 5.70% of the company's stock.

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.