Park Avenue Securities LLC Purchases New Holdings in Axon Enterprise, Inc $AXON

Key Points

• Park Avenue Securities LLC acquired a new stake in Axon Enterprise, purchasing 4,824 shares valued at approximately $3.994 million during the 2nd quarter.
• Several institutional investors increased their positions in Axon, with Toronto Dominion Bank increasing theirs by 38.3% to own 33,273 shares worth about $19.775 million.
• Axon reported better-than-expected earnings of $2.12 per share for the last quarter, surpassing analysts' estimates and reflecting a 32.6% year-over-year revenue growth.

Park Avenue Securities LLC purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,824 shares of the biotechnology company's stock, valued at approximately $3,994,000.

Several other institutional investors have also recently added to or reduced their stakes in AXON. Brighton Jones LLC acquired a new position in Axon Enterprise in the 4th quarter valued at about $480,000. Toronto Dominion Bank increased its position in Axon Enterprise by 38.3% in the 4th quarter. Toronto Dominion Bank now owns 33,273 shares of the biotechnology company's stock valued at $19,775,000 after acquiring an additional 9,209 shares during the period. Mackenzie Financial Corp increased its position in Axon Enterprise by 14.8% in the 4th quarter. Mackenzie Financial Corp now owns 7,181 shares of the biotechnology company's stock valued at $4,268,000 after acquiring an additional 928 shares during the period. Employees Retirement System of Texas acquired a new position in Axon Enterprise in the 4th quarter valued at about $3,962,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Axon Enterprise in the 4th quarter valued at about $57,825,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CAO Jennifer H. Mak sold 77 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $760.00, for a total transaction of $58,520.00. Following the transaction, the chief accounting officer owned 15,003 shares of the company's stock, valued at $11,402,280. This represents a 0.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Brittany Bagley sold 870 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $773.25, for a total value of $672,727.50. Following the transaction, the chief financial officer directly owned 113,022 shares in the company, valued at approximately $87,394,261.50. This represents a 0.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,932 shares of company stock worth $34,408,816 in the last quarter. Insiders own 5.70% of the company's stock.

Analysts Set New Price Targets

AXON has been the topic of several recent research reports. Northland Securities set a $800.00 price target on Axon Enterprise in a research report on Tuesday, August 5th. JMP Securities boosted their target price on Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 22nd. Wolfe Research assumed coverage on Axon Enterprise in a research report on Monday, July 7th. They set an "outperform" rating on the stock. Bank of America boosted their target price on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, UBS Group reiterated a "neutral" rating and set a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $837.69.

Axon Enterprise Price Performance

AXON stock opened at $775.92 on Tuesday. Axon Enterprise, Inc has a 1 year low of $388.36 and a 1 year 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 stock's 50 day moving average price is $760.48 and its 200 day moving average price is $698.43. The firm has a market cap of $60.91 billion, a P/E ratio of 191.59, a PEG ratio of 28.43 and a beta of 1.40.

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

Axon Enterprise Company 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.

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