Winthrop Advisory Group LLC Makes New $315,000 Investment in Axon Enterprise, Inc $AXON

Key Points

• Winthrop Advisory Group LLC has made a new $315,000 investment in Axon Enterprise, acquiring 380 shares of the company during the second quarter.
• Insider trading activity includes Hadi Partovi, a director, acquiring 1,358 shares for about $1 million, while another insider, Jeffrey C. Kunins, sold nearly 7,900 shares valued at over $5.9 million.
• Axon Enterprise reported a 32.6% increase in revenue year-over-year, with quarterly earnings surpassing analyst expectations by a significant margin.

Winthrop Advisory Group LLC bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 380 shares of the biotechnology company's stock, valued at approximately $315,000.

Other large investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC lifted its holdings in shares of Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 24 shares during the period. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 33 shares during the period. Banque Transatlantique SA purchased a new position in shares of Axon Enterprise during the 1st quarter worth about $31,000. Catalyst Capital Advisors LLC purchased a new position in Axon Enterprise during the first quarter worth approximately $32,000. Finally, Flaharty Asset Management LLC purchased a new position in Axon Enterprise during the first quarter worth approximately $33,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Hadi Partovi acquired 1,358 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $740.00 per share, for a total transaction of $1,004,920.00. Following the completion of the acquisition, the director directly owned 237,938 shares of the company's stock, valued at approximately $176,074,120. The trade was a 0.57% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey C. Kunins sold 7,891 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total value of $5,919,039.10. Following the transaction, the insider directly owned 144,538 shares of the company's stock, valued at approximately $108,417,953.80. The trade was a 5.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,932 shares of company stock valued at $37,978,216. 5.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AXON. Needham & Company LLC reaffirmed a "buy" rating and set a $870.00 price target on shares of Axon Enterprise in a research note on Wednesday, September 24th. Zacks Research lowered Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. JMP Securities restated a "market outperform" rating and issued a $825.00 price objective on shares of Axon Enterprise in a report on Monday, September 29th. Morgan Stanley set a $885.00 price objective on Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, UBS Group restated a "neutral" rating and issued a $840.00 price target (up previously from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Axon Enterprise has a consensus rating of "Moderate Buy" and an average price target of $841.64.

Axon Enterprise Stock Down 1.0%

AXON stock opened at $714.60 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. Axon Enterprise, Inc has a 1-year low of $420.49 and a 1-year high of $885.91. The firm has a fifty day moving average price of $757.21 and a two-hundred day moving average price of $710.53. The firm has a market cap of $56.10 billion, a price-to-earnings ratio of 176.44, a PEG ratio of 28.02 and a beta of 1.41.

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

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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