Rafferty Asset Management LLC Has $19.85 Million Stock Position in Axon Enterprise, Inc $AXON

Key Points

• Rafferty Asset Management LLC increased its holdings in Axon Enterprise by 2.5% during Q1, owning 37,748 shares valued at approximately $19.85 million.
• A number of institutional investors have modified their stakes in Axon recently, with 79.08% of the stock now held by hedge funds and other institutional investors.
• Analysts are optimistic, with multiple upgrades to price targets, resulting in an average rating of "Moderate Buy" for Axon stock and a consensus price target of $837.69.

Rafferty Asset Management LLC lifted its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,748 shares of the biotechnology company's stock after acquiring an additional 909 shares during the quarter. Rafferty Asset Management LLC's holdings in Axon Enterprise were worth $19,854,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AXON. Brighton Jones LLC acquired a new position in shares of Axon Enterprise in the 4th quarter worth approximately $480,000. Kovitz Investment Group Partners LLC raised its position in Axon Enterprise by 31.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,081 shares of the biotechnology company's stock worth $642,000 after purchasing an additional 260 shares during the last quarter. Quarry LP bought a new position in Axon Enterprise in the 4th quarter worth approximately $149,000. Beacon Pointe Advisors LLC raised its position in Axon Enterprise by 2.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 864 shares of the biotechnology company's stock worth $513,000 after purchasing an additional 22 shares during the last quarter. Finally, Northern Trust Corp raised its position in Axon Enterprise by 19.8% in the 4th quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock worth $426,083,000 after purchasing an additional 118,469 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, President Joshua Isner sold 15,919 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total value of $11,879,712.94. Following the completion of the transaction, the president owned 238,379 shares of the company's stock, valued at $177,892,712.54. The trade was a 6.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hadi Partovi purchased 1,358 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $740.00 per share, with a total value of $1,004,920.00. Following the acquisition, the director directly owned 237,938 shares in the company, valued at $176,074,120. This trade represents a 0.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 40,790 shares of company stock worth $31,432,171 over the last ninety days. Insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AXON. Needham & Company LLC set a $870.00 price objective on shares of Axon Enterprise and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $885.00 price objective on shares of Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday, July 11th. Barclays boosted their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Northland Securities set a $800.00 price objective on shares of Axon Enterprise in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group upped their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Axon Enterprise currently has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Trading Down 4.4%

Shares of Axon Enterprise stock traded down $34.61 on Friday, hitting $747.29. 583,191 shares of the company's stock traded hands, compared to its average volume of 704,552. The firm's 50-day moving average price is $772.14 and its two-hundred day moving average price is $677.21. The stock has a market capitalization of $58.67 billion, a PE ratio of 184.52, a price-to-earnings-growth ratio of 27.43 and a beta of 1.36. Axon Enterprise, Inc has a one year low of $346.71 and a one year high of $885.91. 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 issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.54 by $0.58. The company had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. On average, research analysts expect that Axon Enterprise, Inc will post 5.8 EPS 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.