Conning Inc. Acquires Shares of 338 Axon Enterprise, Inc $AXON

Conning Inc. purchased a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 338 shares of the biotechnology company’s stock, valued at approximately $280,000.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Axon Enterprise during the fourth quarter valued at approximately $480,000. Harbor Capital Advisors Inc. bought a new position in shares of Axon Enterprise during the first quarter valued at approximately $587,000. GAMMA Investing LLC grew its stake in shares of Axon Enterprise by 11.8% during the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company’s stock valued at $765,000 after buying an additional 154 shares during the last quarter. Integrated Advisors Network LLC bought a new position in Axon Enterprise in the 1st quarter valued at $656,000. Finally, CX Institutional bought a new position in Axon Enterprise in the 1st quarter valued at $115,000. 79.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CFO Brittany Bagley sold 5,000 shares of the stock in a transaction 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 approximately $66,813,456.96. This trade represents a 5.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer H. Mak sold 77 shares of the stock in a transaction on Monday, September 15th. The shares were 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 trade represents a 0.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,932 shares of company stock worth $45,115,616. 4.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on AXON. JPMorgan Chase & Co. upped their price objective on Axon Enterprise from $730.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. UBS Group restated a “neutral” rating and issued a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Piper Sandler initiated coverage on shares of Axon Enterprise in a research note on Tuesday, September 23rd. They issued an “overweight” rating and a $893.00 target price on the stock. Bank of America upped their target price on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Northland Securities set a $800.00 target price on shares of Axon Enterprise in a research note on Tuesday, August 5th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $841.64.

Axon Enterprise Stock Down 4.2%

Shares of Axon Enterprise stock opened at $703.03 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. Axon Enterprise, Inc has a 1 year low of $422.38 and a 1 year high of $885.91. The firm’s 50-day moving average is $755.57 and its two-hundred day moving average is $713.70. The stock has a market cap of $55.19 billion, a price-to-earnings ratio of 173.59, a PEG ratio of 27.30 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same period last year, the firm earned $1.20 earnings per share. The company’s quarterly revenue was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal 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.