Blue Trust Inc. Increases Holdings in Axon Enterprise, Inc $AXON

Blue Trust Inc. increased its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 272.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 629 shares of the biotechnology company’s stock after acquiring an additional 460 shares during the quarter. Blue Trust Inc.’s holdings in Axon Enterprise were worth $521,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position 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 buying an additional 185,571 shares in the last quarter. Alliancebernstein L.P. increased its stake 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 worth $675,812,000 after acquiring an additional 175,890 shares during the last quarter. Westfield Capital Management Co. LP raised its position in 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 purchasing an additional 212,931 shares during the period. Northern Trust Corp lifted its stake in shares of Axon Enterprise by 1.2% in the 1st 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 last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Axon Enterprise by 23,203.7% in the 1st quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company’s stock valued at $322,961,000 after purchasing an additional 611,418 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $713.74, for a total value of $7,137,400.00. Following the completion of the sale, the chief executive officer directly owned 3,033,982 shares of the company’s stock, valued at approximately $2,165,474,312.68. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brittany Bagley sold 5,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer directly owned 93,592 shares of the company’s stock, valued at $66,813,456.96. The trade was a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 59,932 shares of company stock valued at $45,115,616. Insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AXON. Piper Sandler began coverage on Axon Enterprise in a research note on Tuesday, September 23rd. They issued an “overweight” rating and a $893.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $870.00 price target on shares of Axon Enterprise in a research note on Wednesday, September 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 price target on shares of Axon Enterprise in a research note on Monday, September 29th. Craig Hallum raised Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 price target on the stock in a research note on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Axon Enterprise in a research note on Wednesday, October 8th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $841.64.

Axon Enterprise Trading Down 4.2%

Shares of NASDAQ AXON opened at $703.03 on Monday. Axon Enterprise, Inc has a twelve month low of $422.38 and a twelve month high of $885.91. 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 stock has a fifty day simple moving average of $755.57 and a 200-day simple moving average of $714.84. The stock has a market capitalization of $55.19 billion, a PE ratio of 173.59, a PEG ratio of 27.30 and a beta of 1.41.

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, beating 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 business had revenue of $668.54 million during the quarter, compared to analysts’ expectations of $641.77 million. During the same period in the previous year, the firm posted $1.20 earnings per share. The company’s revenue was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

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.