Quantitative Investment Management LLC Reduces Position in Axon Enterprise, Inc $AXON

Key Points

• Quantitative Investment Management LLC has reduced its stake in Axon Enterprise by 27.0%, selling 1,807 shares in the first quarter, now holding 4,878 shares valued at $2,565,000.
• Axon Enterprise reported earnings of $2.12 per share for the last quarter, exceeding analysts' estimates by $0.58 and showing a year-over-year revenue increase of 32.6%.
• Several analysts have upgraded their ratings for Axon Enterprise, with price targets ranging up to $1,000.00, indicating strong market confidence on the stock's performance going forward.

Quantitative Investment Management LLC cut its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 27.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,878 shares of the biotechnology company's stock after selling 1,807 shares during the quarter. Quantitative Investment Management LLC's holdings in Axon Enterprise were worth $2,565,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCTC Holdings LLC raised its stake in Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 24 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter worth approximately $30,000. Bartlett & CO. Wealth Management LLC raised its position in shares of Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after buying an additional 33 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Axon Enterprise in the first quarter valued at approximately $32,000. Finally, Alpine Bank Wealth Management acquired a new stake in Axon Enterprise during the first quarter worth $40,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $831.29, for a total value of $8,312,900.00. Following the transaction, the chief executive officer owned 3,053,982 shares in the company, valued at approximately $2,538,744,696.78. This represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Joshua Isner sold 15,919 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $746.26, for a total value of $11,879,712.94. Following the sale, the president owned 238,379 shares of the company's stock, valued at approximately $177,892,712.54. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,790 shares of company stock valued at $33,654,451 over the last 90 days. 4.40% of the stock is currently owned by corporate insiders.

Axon Enterprise Stock Up 1.6%

AXON stock traded up $12.22 during mid-day trading on Thursday, reaching $781.90. The company had a trading volume of 550,238 shares, compared to its average volume of 698,679. The firm has a fifty day simple moving average of $772.52 and a 200 day simple moving average of $675.87. 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 company has a market capitalization of $61.38 billion, a price-to-earnings ratio of 193.06, a price-to-earnings-growth ratio of 28.22 and a beta of 1.36. Axon Enterprise, Inc has a fifty-two week low of $346.71 and a fifty-two week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. The company had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm's quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. Analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Northland Securities set a $800.00 price target on Axon Enterprise in a research note on Tuesday, August 5th. Needham & Company LLC set a $870.00 target price on shares of Axon Enterprise and gave the stock a "buy" rating in a research note on Tuesday, August 5th. UBS Group reissued a "neutral" rating and issued a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective for the company in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $837.69.

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.