Tocqueville Asset Management L.P. Makes New $5.54 Million Investment in Axon Enterprise, Inc $AXON

Key Points

• Tocqueville Asset Management L.P. has acquired a new position in Axon Enterprise, Inc., purchasing 10,534 shares valued at approximately $5.54 million.
• Axon Enterprise reported earnings per share of $2.12 for the quarter, exceeding estimates, with a 32.6% year-over-year revenue growth.
• Institutional investors now own 79.08% of Axon Enterprise's stock, reflecting strong interest from the investment community.

Tocqueville Asset Management L.P. bought a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,534 shares of the biotechnology company's stock, valued at approximately $5,540,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Investments LLC increased its position in shares of Axon Enterprise by 6.0% during the first quarter. Horizon Investments LLC now owns 1,042 shares of the biotechnology company's stock worth $548,000 after acquiring an additional 59 shares during the period. Kovitz Investment Group Partners LLC grew its stake in Axon Enterprise by 166.0% in the first quarter. Kovitz Investment Group Partners LLC now owns 2,875 shares of the biotechnology company's stock worth $1,512,000 after purchasing an additional 1,794 shares in the last quarter. Oak Ridge Investments LLC increased its holdings in Axon Enterprise by 6.4% during the 1st quarter. Oak Ridge Investments LLC now owns 16,117 shares of the biotechnology company's stock worth $8,477,000 after purchasing an additional 964 shares during the period. Vestmark Advisory Solutions Inc. raised its position in Axon Enterprise by 97.2% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 1,262 shares of the biotechnology company's stock valued at $664,000 after purchasing an additional 622 shares in the last quarter. Finally, S Bank Fund Management Ltd bought a new stake in Axon Enterprise during the 1st quarter valued at $474,000. 79.08% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jeffrey C. Kunins sold 7,891 shares of Axon Enterprise stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the completion of the sale, the insider directly owned 144,538 shares in the company, valued at approximately $108,417,953.80. The trade was a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Cameron Brooks sold 3,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the sale, the executive owned 19,447 shares in the company, valued at $14,405,559.72. The trade was a 13.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,695 shares of company stock valued at $40,964,638. Corporate insiders own 5.70% of the company's stock.

Axon Enterprise Stock Down 4.2%

Shares of AXON traded down $33.33 during midday trading on Tuesday, hitting $758.29. 652,727 shares of the company's stock traded hands, compared to its average volume of 816,362. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $59.53 billion, a price-to-earnings ratio of 187.23, a price-to-earnings-growth ratio of 29.05 and a beta of 1.36. Axon Enterprise, Inc has a 1 year low of $346.71 and a 1 year high of $885.91. The firm's fifty day moving average is $773.92 and its 200-day moving average is $671.99.

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 (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The company had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. During the same period in the prior year, the company posted $1.20 EPS. The firm's quarterly revenue was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Analyst Ratings Changes

AXON has been the topic of several research reports. Raymond James Financial restated an "outperform" rating and set a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. The Goldman Sachs Group raised 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. Bank of America lifted their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. JMP Securities upped their target price on Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 22nd. Finally, Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a research report on Tuesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Axon Enterprise has an average rating of "Moderate Buy" and a consensus target price 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.