KLP Kapitalforvaltning AS Grows Position in Axon Enterprise, Inc $AXON

KLP Kapitalforvaltning AS raised its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,000 shares of the biotechnology company’s stock after acquiring an additional 3,300 shares during the period. KLP Kapitalforvaltning AS’s holdings in Axon Enterprise were worth $32,290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCTC Holdings LLC raised its holdings in shares of Axon Enterprise by 75.0% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 24 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised 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 valued at $31,000 after buying an additional 33 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Axon Enterprise during the 1st quarter valued at about $31,000. Catalyst Capital Advisors LLC purchased a new position in shares of Axon Enterprise during the 1st quarter valued at about $32,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Axon Enterprise during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

AXON has been the topic of a number of research reports. JPMorgan Chase & Co. raised 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. UBS Group reissued a “neutral” rating and set a $840.00 price objective (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Piper Sandler initiated coverage on Axon Enterprise in a report on Tuesday, September 23rd. They set an “overweight” rating and a $893.00 price objective on the stock. Craig Hallum raised Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 price objective on the stock in a report on Tuesday, August 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $870.00 price target on shares of Axon Enterprise in a research report on Wednesday, September 24th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus price target of $841.64.

Axon Enterprise Price Performance

Shares of Axon Enterprise 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. The business’s 50 day simple moving average is $757.21 and its two-hundred day simple moving average is $710.53. The stock has a market capitalization of $56.10 billion, a P/E ratio of 176.44, a price-to-earnings-growth ratio of 28.02 and a beta of 1.41. Axon Enterprise, Inc has a one year low of $420.49 and a one year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.58. The firm had revenue of $668.54 million for 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%.The business’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period last year, the company earned $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. Analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insider Transactions at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $743.64, for a total value of $7,436,400.00. Following the sale, the chief executive officer directly owned 3,043,982 shares in the company, valued at approximately $2,263,626,774.48. This trade represents a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brittany Bagley sold 5,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $713.88, for a total value of $3,569,400.00. Following the completion of the sale, the chief financial officer owned 93,592 shares in the company, valued at approximately $66,813,456.96. This represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,932 shares of company stock worth $37,978,216. Corporate insiders own 5.70% of the company’s stock.

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.