Veracity Capital LLC Sells 467 Shares of Axon Enterprise, Inc $AXON

Key Points

• Veracity Capital LLC reduced its stake in Axon Enterprise by 25.1%, selling 467 shares, leaving them with 1,390 shares valued at approximately $1.15 million.
• Institutional investors now hold 79.08% of Axon Enterprise's stock, with notable increases in holdings observed from firms like GAMMA Investing LLC and Jennison Associates LLC.
• Axon Enterprise reported a 32.6% increase in quarterly revenue year-over-year, achieving $668.54 million and exceeding earnings estimates with $2.12 EPS compared to a predicted $1.54.

Veracity Capital LLC decreased its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 25.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,390 shares of the biotechnology company's stock after selling 467 shares during the period. Veracity Capital LLC's holdings in Axon Enterprise were worth $1,151,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AXON. GAMMA Investing LLC boosted its holdings in Axon Enterprise by 58,725.5% in the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock valued at $402,210,000 after acquiring an additional 763,431 shares in the last quarter. Jennison Associates LLC boosted its holdings in Axon Enterprise by 23,203.7% in the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock valued at $322,961,000 after acquiring an additional 611,418 shares in the last quarter. Nuveen LLC bought a new stake in Axon Enterprise in the first quarter valued at $264,796,000. Westfield Capital Management Co. LP boosted its holdings in Axon Enterprise by 29.8% in the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock valued at $487,977,000 after acquiring an additional 212,931 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock valued at $4,540,005,000 after acquiring an additional 185,571 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CFO Brittany Bagley sold 870 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $773.25, for a total value of $672,727.50. Following the completion of the transaction, the chief financial officer owned 113,022 shares of the company's stock, valued at approximately $87,394,261.50. The trade was a 0.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey C. Kunins sold 7,891 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the completion of the transaction, the insider directly owned 144,538 shares of the company's stock, valued at approximately $108,417,953.80. This trade represents a 5.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,932 shares of company stock worth $34,408,816 over the last quarter. Corporate insiders own 4.40% of the company's stock.

Axon Enterprise Price Performance

AXON opened at $760.79 on Tuesday. The stock has a 50-day moving average price of $760.28 and a 200-day moving average price of $690.00. 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 firm has a market cap of $59.73 billion, a PE ratio of 187.85, a P/E/G ratio of 27.75 and a beta of 1.40. Axon Enterprise, Inc has a 1 year low of $376.53 and a 1 year high of $885.91.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. 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 report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. UBS Group restated a "neutral" rating and set a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Needham & Company LLC set a $870.00 target price on shares of Axon Enterprise and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Northland Securities set a $800.00 target price on shares of Axon Enterprise in a report on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Company 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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