Norden Group LLC Purchases Shares of 495 Axon Enterprise, Inc $AXON

Key Points

• Norden Group LLC acquired 495 shares of Axon Enterprise, Inc, valued at approximately $410,000, highlighting continued interest from institutional investors in the biotechnology sector.
• Insider trading activity was significant, with Jeffrey C. Kunins and President Joshua Isner selling thousands of shares, indicating potential shifts in ownership dynamics.
• Analysts maintain a positive outlook on Axon Enterprise, with multiple price target upgrades and a consensus rating of "Moderate Buy", reflecting confidence in the company's growth prospects.

Norden Group LLC bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 495 shares of the biotechnology company's stock, valued at approximately $410,000.

A number of other institutional investors also recently modified their holdings of AXON. GAMMA Investing LLC boosted its holdings in shares of Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares during the period. Jennison Associates LLC boosted its holdings in shares of Axon Enterprise by 23,203.7% during the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after purchasing an additional 611,418 shares during the period. Nuveen LLC purchased a new stake in shares of Axon Enterprise during the first quarter worth about $264,796,000. Westfield Capital Management Co. LP boosted its holdings in shares of Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock worth $487,977,000 after purchasing an additional 212,931 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Axon Enterprise by 2.2% during the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after purchasing an additional 185,571 shares during the period. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the completion of the transaction, the insider owned 144,538 shares of the company's stock, valued at approximately $108,417,953.80. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the president directly owned 238,379 shares of the company's stock, valued at $177,892,712.54. This represents a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,932 shares of company stock valued at $34,408,816. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $708.84 on Friday. Axon Enterprise, Inc has a fifty-two week low of $388.37 and a fifty-two week high of $885.91. The company has a 50 day simple moving average of $758.60 and a two-hundred day simple moving average of $701.58. The company has a market capitalization of $55.64 billion, a price-to-earnings ratio of 175.02, a P/E/G ratio of 27.65 and a beta of 1.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. 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 firm earned $1.20 earnings per share. The business's revenue for the quarter was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. Analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of analyst reports. JMP Securities increased their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 22nd. UBS Group reiterated a "neutral" rating and set a $840.00 target price (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Northland Securities set a $800.00 price target on shares of Axon Enterprise in a research note on Tuesday, August 5th. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Bank of America increased their price target 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. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $841.64.

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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