Brookstone Capital Management Cuts Stock Position in Axon Enterprise, Inc $AXON

Brookstone Capital Management cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 7.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 791 shares of the biotechnology company’s stock after selling 67 shares during the period. Brookstone Capital Management’s holdings in Axon Enterprise were worth $655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake 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 purchasing an additional 185,571 shares during the period. 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 purchasing an additional 175,890 shares during the period. Westfield Capital Management Co. LP increased its stake 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 buying an additional 212,931 shares during the period. Northern Trust Corp increased its stake in shares of Axon Enterprise by 1.2% during the first quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company’s stock worth $381,692,000 after buying an additional 8,794 shares during the period. Finally, Jennison Associates LLC increased its stake 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 buying an additional 611,418 shares during the period. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $825.00 target price on shares of Axon Enterprise in a research note on Monday, September 29th. JPMorgan Chase & Co. upped their target price on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. 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. Piper Sandler assumed coverage on shares of Axon Enterprise in a research note on Tuesday, September 23rd. They set an “overweight” rating and a $893.00 target price on the stock. Finally, Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $841.64.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $735.95 on Monday. The firm has a market capitalization of $57.77 billion, a P/E ratio of 181.72, a P/E/G ratio of 28.58 and a beta of 1.41. Axon Enterprise, Inc has a 52 week low of $422.38 and a 52 week high of $885.91. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average is $733.17 and its two-hundred day moving average is $726.44.

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

Insider Buying and Selling at Axon Enterprise

In related news, CFO Brittany Bagley sold 5,000 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $713.88, for a total value of $3,569,400.00. Following the completion of the sale, the chief financial officer owned 93,592 shares in the company, valued at $66,813,456.96. This represents a 5.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the sale, the chief executive officer owned 3,053,982 shares of the company’s stock, valued at approximately $2,538,744,696.78. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,932 shares of company stock valued at $45,115,616. 5.70% of the stock is owned by company insiders.

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.