Precedent Wealth Partners LLC Invests $282,000 in Axon Enterprise, Inc $AXON

Precedent Wealth Partners LLC acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 341 shares of the biotechnology company’s stock, valued at approximately $282,000.

Several other institutional investors and hedge funds also recently modified their holdings of AXON. Jennison Associates LLC boosted its position in shares of Axon Enterprise by 23,203.7% during the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company’s stock worth $322,961,000 after buying an additional 611,418 shares during the period. Nuveen LLC bought a new stake in Axon Enterprise during the first quarter worth about $264,796,000. Westfield Capital Management Co. LP raised 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 worth $487,977,000 after acquiring an additional 212,931 shares in the last quarter. Vanguard Group Inc. raised 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 worth $4,540,005,000 after acquiring an additional 185,571 shares in the last quarter. Finally, Axiom Investors LLC DE bought a new stake in Axon Enterprise during the first quarter worth about $93,088,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AXON. Bank of America upped their target price on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Craig Hallum upgraded Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 target price on the stock in a report on Tuesday, August 5th. JPMorgan Chase & Co. upped their target price on Axon Enterprise from $730.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Northland Securities set a $800.00 target price on Axon Enterprise in a report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Axon Enterprise in a report on Saturday, September 27th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $841.64.

Insider Buying and Selling at Axon Enterprise

In related news, CFO Brittany Bagley sold 5,000 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the sale, the chief financial officer owned 93,592 shares of the company’s stock, valued at $66,813,456.96. This represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jennifer H. Mak sold 77 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $760.00, for a total value of $58,520.00. Following the sale, the chief accounting officer directly owned 15,003 shares in the company, valued at $11,402,280. This represents a 0.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,932 shares of company stock valued at $37,978,216 over the last ninety days. 4.40% of the stock is owned by corporate insiders.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $715.51 on Friday. Axon Enterprise, Inc has a 12 month low of $413.68 and a 12 month high of $885.91. The stock’s 50 day moving average is $757.79 and its 200-day moving average is $707.36. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $56.17 billion, a price-to-earnings ratio of 176.67, a PEG ratio of 27.98 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS 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 company had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same quarter in the prior year, the business earned $1.20 earnings per share. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. Equities research analysts expect 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.