Bessemer Group Inc. Reduces Stock Position in Axon Enterprise, Inc $AXON

Bessemer Group Inc. lowered its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 17.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 212,925 shares of the biotechnology company’s stock after selling 44,367 shares during the period. Bessemer Group Inc. owned 0.27% of Axon Enterprise worth $176,289,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TCTC Holdings LLC lifted its position in shares of Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 24 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Axon Enterprise by 132.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 33 shares during the period. Banque Transatlantique SA bought a new position in shares of Axon Enterprise in the first quarter worth $31,000. Catalyst Capital Advisors LLC bought a new position in shares of Axon Enterprise in the first quarter worth $32,000. Finally, Flaharty Asset Management LLC bought a new position in shares of Axon Enterprise in the first quarter worth $33,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Up 2.7%

AXON opened at $735.95 on Monday. The stock has a market cap of $57.77 billion, a PE ratio of 181.72, a P/E/G ratio of 28.58 and a beta of 1.41. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a 52 week low of $422.38 and a 52 week high of $885.91. The business’s fifty day simple moving average is $733.17 and its 200 day simple moving average is $726.44.

Axon Enterprise (NASDAQ:AXON) last released its 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 business had revenue of $668.54 million for the quarter, compared to analysts’ expectations of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The firm’s revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, research 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 Axon Enterprise news, CAO Jennifer H. Mak sold 77 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $760.00, for a total transaction of $58,520.00. Following the completion of the sale, the chief accounting officer directly owned 15,003 shares in the company, valued at $11,402,280. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Joshua Isner sold 15,919 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the sale, the president owned 238,379 shares of the company’s stock, valued at approximately $177,892,712.54. The trade was a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,932 shares of company stock valued at $45,115,616. 5.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $870.00 price target on shares of Axon Enterprise in a report on Wednesday, September 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Axon Enterprise in a report on Friday. JPMorgan Chase & Co. upped their price target 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 price target on shares of Axon Enterprise in a report on Monday, September 29th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $841.64.

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.