Quotient Wealth Partners LLC Decreases Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Quotient Wealth Partners LLC significantly reduced its stake in Axon Enterprise by 64.0%, now holding only 300 shares worth approximately $248,000.
• Despite this decrease, several other hedge funds increased their positions in Axon Enterprise, with 79.08% of the stock owned by institutional investors.
• Axon reported its quarterly earnings, exceeding analysts' expectations with $2.12 earnings per share and revenue up 32.6% year-over-year.

Quotient Wealth Partners LLC trimmed its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 64.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 300 shares of the biotechnology company's stock after selling 533 shares during the period. Quotient Wealth Partners LLC's holdings in Axon Enterprise were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Chevy Chase Trust Holdings LLC raised its holdings in shares of Axon Enterprise by 3.0% during the second quarter. Chevy Chase Trust Holdings LLC now owns 39,119 shares of the biotechnology company's stock valued at $32,388,000 after purchasing an additional 1,125 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Axon Enterprise by 3.6% during the second quarter. Stratos Wealth Partners LTD. now owns 6,798 shares of the biotechnology company's stock valued at $5,629,000 after purchasing an additional 236 shares during the last quarter. Stratos Wealth Advisors LLC raised its holdings in shares of Axon Enterprise by 12.1% during the second quarter. Stratos Wealth Advisors LLC now owns 706 shares of the biotechnology company's stock valued at $585,000 after purchasing an additional 76 shares during the last quarter. Angeles Wealth Management LLC purchased a new position in shares of Axon Enterprise during the second quarter valued at approximately $305,000. Finally, Praxis Investment Management Inc. raised its holdings in shares of Axon Enterprise by 17.8% during the second quarter. Praxis Investment Management Inc. now owns 3,180 shares of the biotechnology company's stock valued at $2,633,000 after purchasing an additional 480 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

AXON opened at $670.68 on Monday. The firm has a market cap of $52.65 billion, a P/E ratio of 165.60, a PEG ratio of 26.04 and a beta of 1.41. Axon Enterprise, Inc has a 1-year low of $422.38 and a 1-year high of $885.91. The company has a 50 day simple moving average of $739.44 and a two-hundred day simple moving average of $719.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71.

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

Insiders Place Their Bets

In other news, Director Hadi Partovi purchased 1,358 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $740.00 per share, for a total transaction of $1,004,920.00. Following the completion of the transaction, the director directly owned 237,938 shares in the company, valued at $176,074,120. This trade represents a 0.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Joshua Isner sold 15,919 shares of the company'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 transaction of $11,879,712.94. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,932 shares of company stock valued at $45,115,616. Insiders own 5.70% of the company's stock.

Wall Street Analyst Weigh In

AXON has been the subject of several research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Axon Enterprise in a report on Wednesday, October 8th. UBS Group reaffirmed a "neutral" rating and set a $840.00 target price (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Northland Securities set a $800.00 target price on shares of Axon Enterprise in a report on Tuesday, August 5th. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $870.00 target price on shares of Axon Enterprise in a report on Wednesday, September 24th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and an average target price of $841.64.

About Axon Enterprise

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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