Truist Financial Corp Has $8.81 Million Stake in Axon Enterprise, Inc $AXON

Truist Financial Corp boosted its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 14.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,644 shares of the biotechnology company's stock after purchasing an additional 1,378 shares during the period. Truist Financial Corp's holdings in Axon Enterprise were worth $8,813,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AXON. LaSalle St. Investment Advisors LLC boosted its position in Axon Enterprise by 2.1% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 777 shares of the biotechnology company's stock worth $408,000 after buying an additional 16 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Axon Enterprise by 5.0% during the first quarter. Smartleaf Asset Management LLC now owns 379 shares of the biotechnology company's stock valued at $203,000 after acquiring an additional 18 shares during the last quarter. Pinion Investment Advisors LLC lifted its holdings in shares of Axon Enterprise by 3.0% during the first quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company's stock worth $341,000 after purchasing an additional 19 shares during the period. Kentucky Retirement Systems grew its stake in shares of Axon Enterprise by 0.4% in the first quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company's stock worth $2,605,000 after purchasing an additional 19 shares during the last quarter. Finally, WCM Investment Management LLC increased its holdings in Axon Enterprise by 0.8% in the first quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company's stock valued at $1,306,000 after purchasing an additional 19 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Stock Down 0.7%

Shares of NASDAQ:AXON opened at $715.51 on Monday. The business's 50 day moving average is $757.79 and its 200 day moving average is $709.38. Axon Enterprise, Inc has a 12-month low of $413.68 and a 12-month high of $885.91. The stock has a market cap of $56.17 billion, a price-to-earnings ratio of 176.67, a PEG ratio of 27.79 and a beta of 1.41. 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 issued its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share 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 business had revenue of $668.54 million for the quarter, compared to analysts' expectations of $641.77 million. During the same period last year, the business earned $1.20 EPS. The business's revenue was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on AXON. Raymond James Financial reiterated an "outperform" rating and issued a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $840.00 target price (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Wolfe Research began coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They set an "outperform" rating for the company. Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target on the stock in a research report on Tuesday, August 5th. Finally, Zacks Research cut shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $841.64.

Insiders Place Their Bets

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $743.64, for a total value of $7,436,400.00. Following the completion of the sale, the chief executive officer owned 3,043,982 shares in the company, valued at approximately $2,263,626,774.48. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Joshua Isner sold 15,919 shares of Axon Enterprise stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the transaction, the president directly owned 238,379 shares in the company, valued at approximately $177,892,712.54. This represents a 6.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,932 shares of company stock worth $37,978,216 in the last ninety days. 5.70% of the stock is owned by corporate insiders.

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.

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