Wealthfront Advisers LLC Raises Stock Holdings in Axon Enterprise, Inc $AXON

Wealthfront Advisers LLC boosted its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 37.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,358 shares of the biotechnology company’s stock after purchasing an additional 2,274 shares during the period. Wealthfront Advisers LLC’s holdings in Axon Enterprise were worth $6,920,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AXON. Jennison Associates LLC raised its stake in shares of 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 purchasing an additional 611,418 shares during the period. Nuveen LLC purchased a new stake in Axon Enterprise during the first quarter worth about $264,796,000. McElhenny Sheffield Capital Management LLC purchased a new stake in Axon Enterprise during the second quarter worth about $255,833,000. Westfield Capital Management Co. LP raised its position in Axon Enterprise by 29.8% in the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock worth $487,977,000 after acquiring an additional 212,931 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company’s stock valued at $4,540,005,000 after acquiring an additional 185,571 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $749.00 on Tuesday. Axon Enterprise, Inc has a 1-year low of $422.38 and a 1-year 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 firm has a market capitalization of $58.80 billion, a PE ratio of 184.94, a price-to-earnings-growth ratio of 28.58 and a beta of 1.41. The firm’s 50 day simple moving average is $732.32 and its 200 day simple moving average is $727.76.

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

Insider Buying and Selling at Axon Enterprise

In other news, insider Jeffrey C. Kunins sold 7,891 shares of Axon Enterprise stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the completion of the sale, the insider owned 144,538 shares in the company, valued at approximately $108,417,953.80. This trade represents a 5.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Joshua Isner sold 15,919 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the completion of the transaction, the president owned 238,379 shares in the company, valued at approximately $177,892,712.54. This trade represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,932 shares of company stock valued at $45,115,616 over the last 90 days. Insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AXON shares. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the stock an “overweight” rating in a research note on Friday, July 11th. Craig Hallum raised Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 target price for the company in a research report on Tuesday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $870.00 price target on shares of Axon Enterprise in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Axon Enterprise in a research note on Wednesday, October 8th. Finally, Piper Sandler began coverage on Axon Enterprise in a research note on Tuesday, September 23rd. They issued an “overweight” rating and a $893.00 price objective on the stock. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $841.64.

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.