Axon Enterprise, Inc $AXON Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. lowered its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 44.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,318 shares of the biotechnology company’s stock after selling 4,306 shares during the quarter. Axon Enterprise comprises 3.1% of Patton Fund Management Inc.’s portfolio, making the stock its 12th largest position. Patton Fund Management Inc.’s holdings in Axon Enterprise were worth $4,403,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AXON. GAMMA Investing LLC lifted its holdings in Axon Enterprise by 58,725.5% during the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company’s stock worth $402,210,000 after buying an additional 763,431 shares during the last quarter. Jennison Associates LLC lifted its holdings in Axon Enterprise by 23,203.7% during the 1st 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 last quarter. Nuveen LLC acquired a new position in shares of Axon Enterprise in the 1st quarter valued at about $264,796,000. Westfield Capital Management Co. LP grew its position in shares of Axon Enterprise by 29.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock valued at $487,977,000 after buying an additional 212,931 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Axon Enterprise by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company’s stock valued at $4,540,005,000 after buying an additional 185,571 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $743.64, for a total value of $7,436,400.00. Following the completion of the sale, the chief executive officer directly owned 3,043,982 shares of the company’s stock, valued at approximately $2,263,626,774.48. This represents a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeri Williams sold 100 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $752.54, for a total transaction of $75,254.00. Following the completion of the sale, the director directly owned 1,416 shares of the company’s stock, valued at approximately $1,065,596.64. This represents a 6.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,932 shares of company stock worth $34,408,816. Company insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. UBS Group reaffirmed a “neutral” rating and set a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Craig Hallum raised shares of Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 price objective for the company in a research report on Tuesday, August 5th. JMP Securities boosted their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $855.00 price objective (up previously from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $841.64.

Axon Enterprise Price Performance

NASDAQ AXON opened at $708.84 on Friday. Axon Enterprise, Inc has a 52 week low of $388.37 and a 52 week 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 market cap of $55.64 billion, a price-to-earnings ratio of 175.02, a price-to-earnings-growth ratio of 27.65 and a beta of 1.40. The company has a 50-day moving average price of $758.60 and a two-hundred day moving average price of $701.58.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.54 by $0.58. The firm had revenue of $668.54 million during the quarter, compared to analysts’ expectations of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise’s quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm 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.

About Axon Enterprise

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.