Pacer Advisors Inc. Sells 178,124 Shares of Axon Enterprise, Inc $AXON

Key Points

• Pacer Advisors cut its Axon Enterprise position by 95.3%, selling 178,124 shares and retaining 8,816 shares worth approximately $3.74 million. Institutional investors collectively own 79.08% of AXON.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year and above expectations, while EPS of $1.88 narrowly exceeded consensus. However, EPS declined from $2.12 a year earlier, software gross margins weakened, and free cash flow turned negative.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and average price target of $730.92 versus a share price of $522.46. Recent targets include $732 from Piper Sandler, $715 from Goldman Sachs, and $700 from Citizens JMP.

Pacer Advisors Inc. reduced its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 95.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,816 shares of the biotechnology company's stock after selling 178,124 shares during the period. Pacer Advisors Inc.'s holdings in Axon Enterprise were worth $3,744,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AXON. Creative Financial Designs Inc. ADV acquired a new position in Axon Enterprise during the 4th quarter worth approximately $28,000. Sound Income Strategies LLC lifted its position in shares of Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 44 shares in the last quarter. Camelot Portfolios LLC acquired a new position in Axon Enterprise during the fourth quarter worth $30,000. AlphaCentric Advisors LLC bought a new position in Axon Enterprise in the fourth quarter valued at $34,000. Finally, Darwin Wealth Management LLC acquired a new stake in Axon Enterprise in the 2nd quarter valued at $37,000. 79.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Axon Enterprise

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the sale, the insider directly owned 34,024 shares in the company, valued at $16,501,640. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $478.97, for a total value of $270,139.08. Following the completion of the transaction, the director directly owned 3,632 shares in the company, valued at approximately $1,739,619.04. This represents a 13.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 58,989 shares of company stock worth $30,527,983 in the last 90 days. Company insiders own 4.20% of the company's stock.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $522.46 on Friday. The stock has a market cap of $42.11 billion, a PE ratio of 216.79, a P/E/G ratio of 12.43 and a beta of 1.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The firm has a 50-day moving average of $511.35 and a 200-day moving average of $473.91. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.00.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million for the quarter, compared to analysts' expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.93%. The business's revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 EPS. On average, sell-side analysts anticipate that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Axon Enterprise News Summary

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Axon reported second-quarter revenue of $904 million, up 35% year over year and ahead of expectations. Annual recurring revenue rose 39% to $1.6 billion, while net revenue retention reached 126%. Axon Q2 revenue release
• Positive Sentiment: Management raised its full-year 2026 revenue-growth outlook to 32%-34% and maintained its adjusted EBITDA margin outlook at 25.5%. Growth was supported by record bookings, international expansion, AI Era adoption and Dedrone counter-drone demand. Q2 earnings call highlights
• Positive Sentiment: AI Era revenue grew nearly 700%, Platform Solutions revenue increased 123% to $150 million, and Dedrone revenue exceeded $100 million, indicating strong momentum in Axon’s newer growth businesses.
• Positive Sentiment: UBS raised its price target from $440 to $600 while retaining a Neutral rating. William Blair also reiterated a Buy rating, citing recurring-revenue growth, counter-drone momentum and the expanding AI platform. William Blair Buy rating
• Neutral Sentiment: Chief Product and Technology Officer Jeffrey Kunins received 29,531 restricted stock units under a three-year executive plan, an ordinary retention and compensation award with limited immediate financial impact.
• Negative Sentiment: Quarterly earnings of $1.88 per share were below some analyst estimates, and earnings declined from $2.12 a year earlier. Software gross margin fell to 71.3% from 75.6% as professional services, memory costs and investments in new products pressured profitability. Reuters margin report
• Negative Sentiment: Free cash flow turned negative, adding to concerns that rapid expansion and inventory growth could weigh on near-term returns. Analysts and valuation reviews also describe AXON as expensive on discounted cash flow measures, increasing the stock’s sensitivity to any slowdown or margin disappointment.

Analysts Set New Price Targets

AXON has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research note on Thursday. The Goldman Sachs Group reissued a "buy" rating and set a $715.00 price target on shares of Axon Enterprise in a research report on Thursday. Needham & Company LLC reaffirmed a "buy" rating on shares of Axon Enterprise in a research report on Thursday. Citizens Jmp reiterated a "market outperform" rating and set a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, Weiss Ratings raised shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Axon Enterprise currently has a consensus rating of "Moderate Buy" and an average target price of $730.92.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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