Wealthspan Partners LLC Cuts Stock Holdings in Axon Enterprise, Inc $AXON

Wealthspan Partners LLC decreased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 876 shares of the biotechnology company’s stock after selling 18 shares during the quarter. Wealthspan Partners LLC’s holdings in Axon Enterprise were worth $726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew 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 valued at $4,540,005,000 after buying an additional 185,571 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Axon Enterprise by 15.9% in 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 last quarter. Westfield Capital Management Co. LP boosted its holdings 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 purchasing an additional 212,931 shares during the last quarter. Northern Trust Corp boosted its holdings in Axon Enterprise by 1.2% in the first quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company’s stock worth $381,692,000 after purchasing an additional 8,794 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Axon Enterprise by 23,203.7% in 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 last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AXON. UBS Group restated a “neutral” rating and issued a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Raymond James Financial restated an “outperform” rating and issued a $855.00 target price (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Piper Sandler began coverage on shares of Axon Enterprise in a report on Tuesday, September 23rd. They issued an “overweight” rating and a $893.00 target price on the stock. Finally, Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an “overweight” rating in a report on Friday, July 11th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $841.64.

Insider Activity

In other news, CAO Jennifer H. Mak sold 77 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $760.00, for a total transaction of $58,520.00. Following the sale, the chief accounting officer directly owned 15,003 shares in the company, valued at $11,402,280. This trade represents a 0.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $713.74, for a total transaction of $7,137,400.00. Following the sale, the chief executive officer owned 3,033,982 shares in the company, valued at $2,165,474,312.68. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,932 shares of company stock worth $45,115,616. 4.40% of the stock is currently owned by insiders.

Axon Enterprise Stock Down 8.5%

AXON opened at $644.99 on Thursday. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a 1-year low of $422.38 and a 1-year high of $885.91. The company has a market capitalization of $50.63 billion, a PE ratio of 159.26, a PEG ratio of 27.36 and a beta of 1.41. The firm’s 50 day simple moving average is $747.25 and its two-hundred day simple moving average is $715.49.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $641.77 million. During the same period last year, the firm earned $1.20 earnings per share. The company’s quarterly revenue was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Axon Enterprise Company 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.