Bessemer Group Inc. Reduces Stock Position in Axon Enterprise, Inc $AXON

Bessemer Group Inc. reduced its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 17.2% in the second quarter, HoldingsChannel.com reports. The firm owned 212,925 shares of the biotechnology company’s stock after selling 44,367 shares during the period. Bessemer Group Inc.’s holdings in Axon Enterprise were worth $176,289,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AXON. Jennison Associates LLC boosted its holdings in shares of Axon Enterprise by 23,203.7% during the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company’s stock worth $322,961,000 after purchasing an additional 611,418 shares during the period. Nuveen LLC purchased a new stake in shares of Axon Enterprise during the first quarter worth about $264,796,000. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Axon Enterprise during the second quarter worth about $255,833,000. Westfield Capital Management Co. LP boosted its holdings in shares of Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock worth $487,977,000 after purchasing an additional 212,931 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 185,571 shares during the period. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Craig Hallum upgraded shares of Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 target price for the company in a report on Tuesday, August 5th. Needham & Company LLC restated a “buy” rating and issued a $870.00 price objective on shares of Axon Enterprise in a report on Wednesday, September 24th. Bank of America raised their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Raymond James Financial restated an “outperform” rating and issued a $855.00 price objective (up from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $825.00 price objective on shares of Axon Enterprise in a report on Monday, September 29th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $841.64.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $735.95 on Monday. Axon Enterprise, Inc has a fifty-two week low of $422.38 and a fifty-two week high of $885.91. The company has a 50 day simple moving average of $733.17 and a two-hundred day simple moving average of $726.44. The company has a market capitalization of $57.77 billion, a price-to-earnings ratio of 181.72, a P/E/G ratio of 28.58 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results 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 net margin of 13.64% and a return on equity of 6.80%. The business had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. During the same quarter last year, the firm earned $1.20 earnings per share. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. Analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the completion of the transaction, the insider owned 144,538 shares of the company’s stock, valued at approximately $108,417,953.80. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Joshua Isner sold 15,919 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the sale, the president directly owned 238,379 shares of the company’s stock, valued at $177,892,712.54. This trade represents a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,932 shares of company stock valued at $45,115,616. 5.70% of the stock is currently owned by company insiders.

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.