Axon Enterprise, Inc $AXON Shares Purchased by Next Century Growth Investors LLC

Key Points

• Next Century Growth Investors LLC increased its stake in Axon Enterprise by 39.9% during the first quarter, owning 3,098 shares valued at approximately $1.63 million.
• Multiple institutional investors, including B. Metzler seel. Sohn & Co. AG and Ieq Capital LLC, have also raised their positions in Axon Enterprise in the same quarter, indicating a growing interest in the company.
• Axon Enterprise reported $2.12 earnings per share in its latest quarter, significantly beating estimates of $1.54, and showed a 32.6% year-over-year revenue growth.

Next Century Growth Investors LLC boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 39.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,098 shares of the biotechnology company's stock after buying an additional 883 shares during the quarter. Next Century Growth Investors LLC's holdings in Axon Enterprise were worth $1,629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new stake in shares of Axon Enterprise in the 4th quarter valued at about $480,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Axon Enterprise by 31.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,081 shares of the biotechnology company's stock valued at $642,000 after purchasing an additional 260 shares in the last quarter. Beacon Pointe Advisors LLC raised its holdings in shares of Axon Enterprise by 2.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 864 shares of the biotechnology company's stock valued at $513,000 after purchasing an additional 22 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Axon Enterprise by 382.2% in the 4th quarter. AQR Capital Management LLC now owns 23,363 shares of the biotechnology company's stock valued at $13,885,000 after purchasing an additional 18,518 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of Axon Enterprise by 493.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 11,000 shares of the biotechnology company's stock valued at $6,538,000 after purchasing an additional 9,145 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Wall Street Analyst Weigh In

AXON has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Needham & Company LLC set a $870.00 price target on shares of Axon Enterprise and gave the company a "buy" rating in a report on Tuesday, August 5th. 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. JPMorgan Chase & Co. boosted their price objective 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. Finally, Bank of America boosted their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Axon Enterprise has an average rating of "Moderate Buy" and a consensus price target of $837.69.

Axon Enterprise Stock Performance

NASDAQ:AXON traded down $6.30 during trading hours on Tuesday, hitting $740.99. 330,755 shares of the company were exchanged, compared to its average volume of 695,705. The stock has a market capitalization of $58.17 billion, a price-to-earnings ratio of 182.96, a PEG ratio of 27.43 and a beta of 1.40. Axon Enterprise, Inc has a 52-week low of $346.71 and a 52-week high of $885.91. 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 company's 50 day moving average price is $771.42 and its 200-day moving average price is $677.75.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.58. The company had revenue of $668.54 million for 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%. Axon Enterprise's revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $831.29, for a total value of $8,312,900.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hadi Partovi acquired 1,358 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $740.00 per share, for a total transaction of $1,004,920.00. Following the completion of the acquisition, the director directly owned 237,938 shares in the company, valued at approximately $176,074,120. The trade was a 0.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 40,703 shares of company stock worth $31,366,051. Company 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.