The State of Alaska Department of Revenue has reduced its holdings in Axon Enterprise, Inc (NASDAQ:AXON – Free Report) by 2.1% during the second quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission (SEC). The fund now holds 8,314 shares of the biotechnology company after selling 175 shares in the quarter, with a total value of $6,883,000 at the end of the reporting period.
Other significant investors have also adjusted their positions in Axon Enterprise. LaSalle St. Investment Advisors LLC increased its stake by 2.1% in the first quarter, now owning 777 shares worth $408,000 after acquiring an additional 16 shares. Similarly, Smartleaf Asset Management LLC raised its holdings by 5.0%, owning 379 shares valued at $203,000 after purchasing 18 more shares. Pinion Investment Advisors LLC and Kentucky Retirement Systems also increased their stakes by 3.0% and 0.4%, respectively, while WCM Investment Management LLC raised its holdings by 0.8%. Overall, institutional investors now control 79.08% of the company’s stock.
Axon Enterprise Stock Performance
NASDAQ AXON opened at $708.84 on Monday. The company has a fifty-day simple moving average of $758.60 and a 200-day simple moving average of $703.76. Axon Enterprise, Inc has recorded a 12-month low of $388.37 and a high of $885.91. Key financial metrics include a current ratio of 2.95, a quick ratio of 2.71, and a debt-to-equity ratio of 0.63. The market capitalization stands at $55.64 billion, with a P/E ratio of 175.02 and a PEG ratio of 27.53, alongside a beta of 1.40.
Axon Enterprise (NASDAQ:AXON – Get Free Report) recently announced its quarterly earnings on August 4th. The company reported earnings per share (EPS) of $2.12, exceeding the consensus estimate of $1.54 by $0.58. Axon achieved a net margin of 13.64% and a return on equity of 6.80%, with revenue of $668.54 million, surpassing the expected $641.77 million. This represents a 32.6% increase in revenue compared to the same quarter last year. Analysts predict that Axon will post 5.8 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have provided insights on Axon’s stock. UBS Group maintained a “neutral” rating, raising the price target to $840.00 from $820.00. Northland Securities set a price target of $800.00, while Bank of America increased its target from $895.00 to $1,000.00, maintaining a “buy” rating. Piper Sandler initiated coverage with an “overweight” rating and a price objective of $893.00. Morgan Stanley also set a price target of $885.00 with an “overweight” rating. Currently, 14 analysts have rated the stock as a Buy, while three have assigned a Hold rating, leading to a consensus rating of “Moderate Buy” with a target price of $841.64.
Read Our Latest Stock Analysis on Axon Enterprise
Insiders Place Their Bets
In related news, Director Jeri Williams sold 100 shares of Axon stock on September 11th at an average price of $752.54, totaling $75,254.00. Following this transaction, Williams holds 1,416 shares valued at approximately $1,065,596.64, marking a 6.60% decrease in their position. CFO Brittany Bagley also sold 870 shares on September 15th for $672,727.50, reducing her position by 0.76%. Insiders have sold a total of 44,932 shares worth $34,408,816 in the last quarter, with insiders owning 5.70% of the company’s stock.
About Axon Enterprise
Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand both in the United States and internationally. The company operates through two segments: Software and Sensors, and TASER. Additionally, Axon offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.
Further Reading
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