Merit Financial Group LLC Has $11.46 Million Holdings in Axon Enterprise, Inc $AXON

Key Points

• Merit Financial Group LLC reduced its stake in Axon Enterprise by 4.8%, now holding 13,841 shares valued at approximately $11.46 million.
• Analysts have set a consensus price target of $841.64 for Axon Enterprise, with 14 analysts recommending a Buy rating.
• Insider selling has occurred recently, with CFO Brittany Bagley and CEO Patrick W. Smith together selling 15,000 shares of Axon stock totaling nearly $11 million.

Merit Financial Group LLC lessened its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,841 shares of the biotechnology company's stock after selling 694 shares during the period. Merit Financial Group LLC's holdings in Axon Enterprise were worth $11,460,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC boosted its stake in Axon Enterprise by 75.0% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 24 shares during the period. Bartlett & CO. Wealth Management LLC lifted 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 in the last quarter. Banque Transatlantique SA acquired a new position in Axon Enterprise during the first quarter valued at $31,000. Catalyst Capital Advisors LLC acquired a new position in Axon Enterprise during the first quarter valued at $32,000. Finally, Flaharty Asset Management LLC acquired a new position in Axon Enterprise during the first quarter valued at $33,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on AXON. Wolfe Research began coverage on Axon Enterprise in a research note on Monday, July 7th. They set an "outperform" rating 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 for the company 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. UBS Group restated a "neutral" rating and set a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $870.00 target price on shares of Axon Enterprise in a research report on Wednesday, September 24th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $841.64.

Insider Buying and Selling

In related news, CFO Brittany Bagley sold 5,000 shares of Axon Enterprise stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the completion of the transaction, the chief financial officer directly owned 93,592 shares of the company's stock, valued at $66,813,456.96. This trade represents a 5.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $743.64, for a total transaction of $7,436,400.00. Following the transaction, the chief executive officer directly owned 3,043,982 shares of the company's stock, valued at $2,263,626,774.48. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,932 shares of company stock worth $37,978,216 in the last three months. Company insiders own 4.40% of the company's stock.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $715.51 on Friday. The firm's 50-day moving average is $757.79 and its 200-day moving average is $708.33. Axon Enterprise, Inc has a 52-week low of $413.68 and a 52-week 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 company has a market cap of $56.17 billion, a price-to-earnings ratio of 176.67, a PEG ratio of 27.78 and a beta of 1.41.

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

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