Soros Capital Management LLC Reduces Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Soros Capital Management LLC significantly reduced its stake in Axon Enterprise, Inc by 91.4%, owning only 831 shares valued at approximately $437,000 after selling 8,788 shares during the quarter.
• Axon reported a strong quarterly earnings with $2.12 earnings per share, exceeding analysts' estimates of $1.54, along with a revenue increase of 32.6% year-over-year.
• Several hedge funds reported increased stakes in Axon, with TCTC Holdings LLC boosting its position by 75.0% in the first quarter.

Soros Capital Management LLC trimmed its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 91.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 831 shares of the biotechnology company's stock after selling 8,788 shares during the quarter. Soros Capital Management LLC's holdings in Axon Enterprise were worth $437,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Axon Enterprise during the 1st quarter valued at approximately $1,110,000. Quotient Wealth Partners LLC purchased a new position in shares of Axon Enterprise during the 1st quarter valued at approximately $438,000. CX Institutional purchased a new position in shares of Axon Enterprise during the 1st quarter valued at approximately $115,000. GAMMA Investing LLC increased its holdings in shares of Axon Enterprise by 11.8% during the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after purchasing an additional 154 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in shares of Axon Enterprise by 5.1% during the 1st quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock valued at $494,000 after purchasing an additional 46 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axon Enterprise

In other news, President Joshua Isner sold 15,919 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the completion of the sale, the president owned 238,379 shares of the company's stock, valued at $177,892,712.54. This represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the sale, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. The trade was a 0.33% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,790 shares of company stock valued at $31,432,171. 4.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Axon Enterprise Price Performance

Shares of Axon Enterprise stock traded down $34.61 during trading hours on Friday, reaching $747.29. 571,798 shares of the company's stock were exchanged, compared to its average volume of 696,449. Axon Enterprise, Inc has a 1 year low of $346.71 and a 1 year high of $885.91. The company has a market capitalization of $58.66 billion, a P/E ratio of 184.52, a price-to-earnings-growth ratio of 28.25 and a beta of 1.36. The business has a fifty day moving average of $772.74 and a two-hundred day moving average of $676.59. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its 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. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business had revenue of $668.54 million during 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. The company's revenue for the quarter was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

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.