Axon Enterprise, Inc $AXON Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. sold 21,016 shares of Axon Enterprise, Inc, reducing its holdings by 7.5%, leaving it with 258,471 shares valued at approximately $135.9 million.
• Institutional investors own 79.08% of Axon Enterprise's stock, indicating strong institutional interest in the company.
• Axon reported a 32.6% increase in quarterly revenue year-over-year, achieving earnings of $2.12 per share, surpassing analyst expectations.

Price T Rowe Associates Inc. MD reduced its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 7.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 258,471 shares of the biotechnology company's stock after selling 21,016 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.33% of Axon Enterprise worth $135,944,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Axon Enterprise during the fourth quarter valued at approximately $480,000. Hancock Whitney Corp bought a new stake in Axon Enterprise during the 4th quarter valued at $234,000. Kovitz Investment Group Partners LLC raised its position in Axon Enterprise by 31.7% during 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. Nebula Research & Development LLC purchased a new stake in shares of Axon Enterprise in the 4th quarter worth $1,135,000. Finally, Gilder Gagnon Howe & Co. LLC bought a new position in shares of Axon Enterprise during the 4th quarter worth $2,359,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON stock traded down $28.46 during mid-day trading on Friday, reaching $753.44. The stock had a trading volume of 250,867 shares, compared to its average volume of 695,907. Axon Enterprise, Inc has a 1-year low of $346.71 and a 1-year high of $885.91. The firm has a market cap of $59.15 billion, a price-to-earnings ratio of 186.03, a PEG ratio of 28.25 and a beta of 1.36. 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 fifty day moving average is $772.74 and its 200-day moving average is $676.59.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 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 firm earned $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. On average, research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Analyst Ratings Changes

AXON has been the subject of several recent research reports. Craig Hallum upgraded Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective for the company in a report on Tuesday, August 5th. Barclays boosted their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Needham & Company LLC set a $870.00 price objective on shares of Axon Enterprise and gave the company a "buy" rating 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, UBS Group reaffirmed 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 two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

Insider Activity

In other Axon Enterprise news, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the completion of the transaction, the director owned 17,740 shares in the company, valued at approximately $13,482,400. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at approximately $2,538,744,696.78. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,790 shares of company stock valued at $31,432,171 over the last quarter. Insiders own 4.40% 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.