Geode Capital Management LLC Acquires 115,349 Shares of Axon Enterprise, Inc $AXON

Geode Capital Management LLC raised its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 5.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,072,186 shares of the biotechnology company’s stock after buying an additional 115,349 shares during the quarter. Geode Capital Management LLC’s holdings in Axon Enterprise were worth $1,713,332,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of AXON. Jennison Associates LLC increased its position 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 valued at $322,961,000 after purchasing an additional 611,418 shares during the last quarter. Nuveen LLC bought a new position in shares of Axon Enterprise in the first quarter worth about $264,796,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Axon Enterprise during the 2nd quarter valued at approximately $255,833,000. Westfield Capital Management Co. LP lifted its holdings in 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 valued at $487,977,000 after purchasing an additional 212,931 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AXON. Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, November 5th. Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Bank of America raised their price target on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. The Goldman Sachs Group cut their price target on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Piper Sandler dropped their target price on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $810.71.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $743.64, for a total value of $7,436,400.00. Following the sale, the chief executive officer owned 3,043,982 shares in the company, valued at $2,263,626,774.48. This represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brittany Bagley sold 5,000 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $713.88, for a total value of $3,569,400.00. Following the transaction, the chief financial officer directly owned 93,592 shares of the company’s stock, valued at $66,813,456.96. The trade was a 5.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 52,041 shares of company stock worth $36,794,077 in the last three months. 5.70% of the stock is currently owned by corporate insiders.

Axon Enterprise Trading Down 0.5%

Shares of AXON stock opened at $569.51 on Thursday. The company has a market cap of $44.94 billion, a price-to-earnings ratio of 140.62, a PEG ratio of 29.49 and a beta of 1.45. The stock has a 50 day simple moving average of $709.82 and a 200-day simple moving average of $735.72. 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 $469.24 and a 1-year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.46). Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. During the same period last year, the company earned $1.45 EPS. The business’s quarterly revenue was up 30.6% on a year-over-year basis. Axon Enterprise has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts expect that Axon Enterprise, Inc will post 5.8 EPS 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.