Western Financial Corp CA Takes Position in Axon Enterprise, Inc $AXON

Key Points

• Western Financial Corp CA has acquired a new stake in Axon Enterprise, Inc, purchasing 892 shares valued at approximately $739,000 during the second quarter.
• Major institutional investors, including GAMMA Investing LLC and Jennison Associates LLC, significantly increased their stakes in Axon, demonstrating strong interest with a combined investment growth in the hundreds of millions.
• Analysts have varying opinions on Axon, with target prices ranging from $870.00 to $893.00 per share, indicating continued optimism about the company's growth prospects despite some downgrades from "strong-buy" to "hold" ratings.

Western Financial Corp CA acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 892 shares of the biotechnology company's stock, valued at approximately $739,000.

A number of other institutional investors have also modified their holdings of AXON. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 763,431 shares in the last quarter. Jennison Associates LLC grew its stake in shares of 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 buying an additional 611,418 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Axon Enterprise in the first quarter valued at $264,796,000. Westfield Capital Management Co. LP grew its stake in shares of 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 buying an additional 212,931 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of 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 buying an additional 185,571 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 sale, the chief financial officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer H. Mak sold 77 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $760.00, for a total value of $58,520.00. Following the completion of the sale, the chief accounting officer directly owned 15,003 shares of the company's stock, valued at $11,402,280. The trade was a 0.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,932 shares of company stock worth $34,408,816. Corporate insiders own 4.40% of the company's stock.

Axon Enterprise Price Performance

AXON stock opened at $708.84 on Friday. The business has a 50 day moving average price of $758.60 and a 200 day moving average price of $701.58. The stock has a market cap of $55.64 billion, a price-to-earnings ratio of 175.02, a PEG ratio of 27.65 and a beta of 1.40. Axon Enterprise, Inc has a fifty-two week low of $388.37 and a fifty-two week high of $885.91. 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 posted its earnings results 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 during the quarter, compared to the consensus estimate of $641.77 million. During the same period in the previous year, the business earned $1.20 EPS. The business's quarterly revenue was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on AXON shares. Needham & Company LLC reissued a "buy" rating and set a $870.00 target price on shares of Axon Enterprise in a research note on Wednesday. Zacks Research cut Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Raymond James Financial reissued an "outperform" rating and set a $855.00 target price (up from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Piper Sandler began coverage on Axon Enterprise in a research report on Tuesday. They set an "overweight" rating and a $893.00 price objective for the company. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $841.64.

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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