Zevenbergen Capital Investments LLC Has $324.09 Million Stock Position in Axon Enterprise, Inc $AXON

Key Points

• Zevenbergen Capital Investments LLC has reduced its stake in Axon Enterprise, Inc by 5.7%, now holding 391,441 shares valued at approximately $324.09 million, making it the firm's second largest holding.
• Axon Enterprise reported earnings of $2.12 per share for the last quarter, significantly exceeding analyst expectations of $1.54, along with a revenue increase of 32.6% year-over-year to $668.54 million.
• 79.08% of Axon Enterprise's shares are owned by institutional investors, including significant purchases by Vanguard and Alliancebernstein earlier this year.

Zevenbergen Capital Investments LLC cut its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,441 shares of the biotechnology company's stock after selling 23,823 shares during the period. Axon Enterprise comprises approximately 6.3% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 2nd biggest holding. Zevenbergen Capital Investments LLC owned about 0.50% of Axon Enterprise worth $324,089,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Axon Enterprise by 2.2% during 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 purchasing an additional 185,571 shares during the period. Alliancebernstein L.P. grew its holdings in Axon Enterprise by 15.9% during the first quarter. Alliancebernstein L.P. now owns 1,284,935 shares of the biotechnology company's stock valued at $675,812,000 after purchasing an additional 175,890 shares during the period. Westfield Capital Management Co. LP grew its holdings in Axon Enterprise by 29.8% during 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 purchasing an additional 212,931 shares during the period. GAMMA Investing LLC grew its holdings in Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock valued at $402,210,000 after purchasing an additional 763,431 shares during the period. Finally, Northern Trust Corp grew its holdings in Axon Enterprise by 1.2% during the first quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company's stock valued at $381,692,000 after purchasing an additional 8,794 shares during the period. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Trading Up 0.7%

NASDAQ:AXON opened at $756.13 on Friday. The company has a market cap of $59.36 billion, a P/E ratio of 186.70, a P/E/G ratio of 27.57 and a beta of 1.40. The stock's fifty day moving average price is $761.10 and its two-hundred day moving average price is $687.25. Axon Enterprise, Inc has a 1 year low of $375.71 and a 1 year high of $885.91. 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 (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (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 company had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same quarter last year, the business posted $1.20 earnings per share. The firm's 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, analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insider Buying and Selling

In related news, insider Jeffrey C. Kunins sold 7,891 shares of the stock in a transaction on 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 sale, the insider owned 144,538 shares in the company, valued at approximately $108,417,953.80. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer H. Mak sold 75 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $723.50, for a total value of $54,262.50. Following the completion of the sale, the chief accounting officer owned 15,080 shares in the company, valued at $10,910,380. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,790 shares of company stock valued at $34,304,947 in the last ninety days. 4.40% of the stock is owned by insiders.

Analysts Set New Price Targets

AXON has been the subject of several research reports. JMP Securities increased their price objective on Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a report on Tuesday, July 22nd. Wolfe Research initiated coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating for the company. Northland Securities set a $800.00 price objective on Axon Enterprise in a report on Tuesday, August 5th. JPMorgan Chase & Co. increased their price objective on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Morgan Stanley set a $885.00 price objective on Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $837.69.

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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