Taikang Asset Management Hong Kong Co Ltd Acquires New Position in Axon Enterprise, Inc $AXON

Key Points

• Taikang Asset Management Hong Kong Co Ltd has acquired a new stake in Axon Enterprise, purchasing 2,858 shares valued at approximately $1,503,000.
• Axon Enterprise reported earnings of $2.12 per share for the quarter, surpassing analyst expectations and showing a 32.6% increase in quarterly revenue year-over-year.
• Most analysts recommend a "Buy" rating for Axon Enterprise, with a consensus price target of approximately $837.69 following multiple upgrades to price objectives by major financial institutions.

Taikang Asset Management Hong Kong Co Ltd acquired a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,858 shares of the biotechnology company's stock, valued at approximately $1,503,000.

Several other institutional investors also recently bought and sold shares of AXON. TCTC Holdings LLC grew its position in Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 24 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Axon Enterprise during the 4th quarter valued at about $30,000. Bartlett & CO. Wealth Management LLC grew its position in 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 purchasing an additional 33 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Axon Enterprise during the 1st quarter valued at about $32,000. Finally, Alpine Bank Wealth Management purchased a new stake in Axon Enterprise during the 1st quarter valued at about $40,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Trading Up 0.4%

Shares of AXON stock opened at $766.24 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. The company has a market cap of $60.15 billion, a price-to-earnings ratio of 189.20, a PEG ratio of 28.12 and a beta of 1.36. The stock has a 50 day simple moving average of $773.05 and a 200-day simple moving average of $673.98. Axon Enterprise, Inc has a 1-year low of $346.71 and a 1-year high of $885.91.

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

Insider Buying and Selling at Axon Enterprise

In other news, Director Michael Garnreiter sold 5,913 shares of the company's stock in a transaction that occurred on 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 directly owned 17,740 shares of the company's stock, valued at $13,482,400. This represents a 25.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Cameron Brooks sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $740.76, for a total value of $2,222,280.00. Following the transaction, the executive directly owned 19,447 shares of the company's stock, valued at approximately $14,405,559.72. The trade was a 13.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,790 shares of company stock worth $33,654,451. 5.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $855.00 price objective (up previously from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Barclays increased their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. UBS Group reiterated a "neutral" rating and issued a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. JPMorgan Chase & Co. increased 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, Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a research note on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of "Moderate Buy" and a consensus price target of $837.69.

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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