The Manufacturers Life Insurance Company Sells 1,102 Shares of Axon Enterprise, Inc $AXON

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Axon Enterprise, Inc by 2.5%, selling 1,102 shares during the 1st quarter, leaving it with 42,481 shares valued at approximately $22.34 million.
• Analysts have given Axon Enterprise a consensus rating of "Moderate Buy", with an average price target of $837.69, following various upgrades by major investment firms.
• CEO Patrick W. Smith sold 10,000 shares of Axon stock for nearly $8.31 million, decreasing his position by 0.33%, while insiders have collectively sold around 34,790 shares worth $26.87 million in the last quarter.

The Manufacturers Life Insurance Company lowered its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,481 shares of the biotechnology company's stock after selling 1,102 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Axon Enterprise worth $22,343,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Axon Enterprise in the first quarter valued at $1,110,000. Quotient Wealth Partners LLC bought a new stake in Axon Enterprise in the first quarter valued at $438,000. CX Institutional bought a new stake in Axon Enterprise in the first quarter valued at $115,000. GAMMA Investing LLC boosted its holdings in Axon Enterprise by 11.8% in the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after acquiring an additional 154 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in Axon Enterprise by 5.1% in the first quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock valued at $494,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AXON. 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. The Goldman Sachs Group boosted 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. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target for the company in a research report on Tuesday, August 5th. Finally, Wolfe Research assumed coverage on Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $837.69.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON traded down $1.75 during midday trading on Friday, hitting $728.41. 398,045 shares of the company's stock traded hands, compared to its average volume of 544,125. Axon Enterprise, Inc has a 1 year low of $346.71 and a 1 year high of $885.91. The stock has a market capitalization of $57.18 billion, a price-to-earnings ratio of 179.85, a price-to-earnings-growth ratio of 26.73 and a beta of 1.40. 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 firm has a fifty day moving average of $765.93 and a 200 day moving average of $679.57.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly 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. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm 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 EPS. The business'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. On average, analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Activity

In other news, CAO Jennifer H. Mak sold 75 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $723.50, for a total transaction of $54,262.50. Following the completion of the sale, the chief accounting officer owned 15,080 shares of the company's stock, valued at $10,910,380. This represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Hadi Partovi acquired 1,358 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average price of $740.00 per share, with a total value of $1,004,920.00. Following the completion of the purchase, the director owned 237,938 shares in the company, valued at $176,074,120. This trade represents a 0.57% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 34,865 shares of company stock worth $26,926,433. Company insiders own 4.40% of the company's stock.

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.