Northern Trust Corp Grows Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Northern Trust Corp increased its stake in Axon Enterprise by 1.2%, owning 725,720 shares worth approximately $381.7 million after purchasing an additional 8,794 shares.
• Axon Enterprise's stock is down 4.2%, with current trading at $758.29 following a recent earnings report showing a quarterly revenue of $668.54 million, exceeding analysts' expectations.
• Various institutional investors have made significant changes in their positions, with 79.08% of Axon Enterprise's stock now held by institutional investors.

Northern Trust Corp increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 725,720 shares of the biotechnology company's stock after buying an additional 8,794 shares during the quarter. Northern Trust Corp owned about 0.93% of Axon Enterprise worth $381,692,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TCTC Holdings LLC raised its position in shares of Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after buying an additional 24 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in Axon Enterprise in the fourth quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC raised its position in 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 period. Catalyst Capital Advisors LLC purchased a new stake in Axon Enterprise in the first quarter valued at approximately $32,000. Finally, Alpine Bank Wealth Management purchased a new stake in Axon Enterprise in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AXON. Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the company an "overweight" rating in a research report on Friday, July 11th. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a research report on Tuesday, August 5th. Wolfe Research began coverage on Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating on the stock. Barclays boosted their target price on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $855.00 price objective (up previously from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $837.69.

Insider Buying and Selling at Axon Enterprise

In other news, President Joshua Isner sold 15,919 shares of the stock in a transaction dated 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 completion of the sale, the president owned 238,379 shares in the company, valued at approximately $177,892,712.54. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer H. Mak sold 75 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $771.81, for a total transaction of $57,885.75. Following the sale, the chief accounting officer owned 15,240 shares of the company's stock, valued at $11,762,384.40. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,790 shares of company stock valued at $33,654,451. Corporate insiders own 4.40% of the company's stock.

Axon Enterprise Stock Up 0.4%

Shares of AXON stock traded up $2.73 on Friday, reaching $766.24. 395,415 shares of the stock were exchanged, compared to its average volume of 739,771. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The business's 50 day moving average price is $773.05 and its 200 day moving average price is $674.00. The company has a market capitalization of $60.15 billion, a price-to-earnings ratio of 189.20, a PEG ratio of 28.12 and a beta of 1.36. Axon Enterprise, Inc has a twelve month low of $346.71 and a twelve month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The company had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. During the same quarter in the prior year, the firm posted $1.20 earnings per share. Axon Enterprise'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. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

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.