Envestnet Portfolio Solutions Inc. Boosts Stake in Axon Enterprise, Inc $AXON

Envestnet Portfolio Solutions Inc. grew its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 239.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,642 shares of the biotechnology company’s stock after acquiring an additional 2,568 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Axon Enterprise were worth $2,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Darwin Wealth Management LLC acquired a new stake in Axon Enterprise during the 2nd quarter valued at approximately $37,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Axon Enterprise in the 4th quarter valued at approximately $28,000. Camelot Portfolios LLC acquired a new position in shares of Axon Enterprise in the 4th quarter valued at approximately $30,000. AlphaCentric Advisors LLC purchased a new position in shares of Axon Enterprise during the 4th quarter valued at approximately $34,000. Finally, Strive Financial Group LLC purchased a new position in shares of Axon Enterprise during the 4th quarter valued at approximately $41,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the transaction, the insider owned 52,813 shares of the company’s stock, valued at $21,125,200. This trade represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chief executive officer owned 3,060,997 shares of the company’s stock, valued at approximately $1,530,498,500. The trade was a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 68,989 shares of company stock worth $36,016,932. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays lifted their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Morgan Stanley raised their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Zacks Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Citizens Jmp restated a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, UBS Group increased their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average target price of $730.92.

Axon Enterprise Stock Performance

Shares of AXON opened at $599.78 on Thursday. The stock has a market capitalization of $48.73 billion, a PE ratio of 248.87, a price-to-earnings-growth ratio of 12.98 and a beta of 1.39. The business’s fifty day moving average price is $521.48 and its 200 day moving average price is $473.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $794.29.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.12 earnings per share. Equities research analysts forecast that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Trending Headlines about Axon Enterprise

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Connected Devices remain a key growth engine: Strong demand for TASER devices, body cameras and counter-drone equipment is driving rapid growth in Axon’s hardware and connected-products business. This supports the company’s broader ecosystem of cloud software and public-safety services. Will Strength in Connected Devices Unit Continue to Drive AXON’s Growth?
• Positive Sentiment: Recent earnings and AI capabilities support the bullish case: Axon exceeded quarterly expectations with adjusted EPS of $1.88 versus $1.84 expected and revenue of approximately $904.4 million versus $876.4 million expected. Revenue increased 35.3% year over year, while new AI capabilities could improve the value of Axon’s public-safety platform. Axon Public Safety and New AI Capabilities
• Neutral Sentiment: Technical consolidation follows a sharp advance: AXON had been in a strong uptrend and is now consolidating, leaving investors focused on whether the rally can resume or whether the shares need to reset after their recent gains. Is the Axon Rally Over?
• Negative Sentiment: Valuation is the main pressure point: Analysts note that Axon’s strong growth is already reflected in the stock price. With a very high price-to-earnings ratio, even solid results may not be enough to sustain upward momentum, prompting some investors to downgrade the shares or take profits. Axon Q2 Was Strong but Valuation Concerns Remain
• Negative Sentiment: Insider selling adds a modest sentiment headwind: CEO Patrick Smith sold 9,930 shares for approximately $5.45 million under a pre-arranged Rule 10b5-1 plan. The sale represented only about 0.33% of his holdings, so it is not a major change in insider ownership but may reinforce profit-taking concerns.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.