Argus Investors Counsel Inc. Grows Stake in Axon Enterprise, Inc $AXON

Argus Investors Counsel Inc. boosted its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,408 shares of the biotechnology company’s stock after buying an additional 82 shares during the period. Axon Enterprise makes up 2.6% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its 8th biggest holding. Argus Investors Counsel Inc.’s holdings in Axon Enterprise were worth $3,650,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in 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 purchasing an additional 185,571 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Axon Enterprise by 15.9% in the 1st quarter. Alliancebernstein L.P. now owns 1,284,935 shares of the biotechnology company’s stock valued at $675,812,000 after acquiring an additional 175,890 shares during the last quarter. Westfield Capital Management Co. LP raised its position 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 worth $487,977,000 after acquiring an additional 212,931 shares during the period. GAMMA Investing LLC grew its holdings in shares of Axon Enterprise by 58,725.5% in the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company’s stock valued at $402,210,000 after purchasing an additional 763,431 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Axon Enterprise by 1.2% during 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 in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

AXON opened at $708.84 on Friday. The firm’s 50-day moving average price is $758.60 and its 200 day moving average price is $702.58. The firm has a market capitalization of $55.65 billion, a PE ratio of 175.02, a PEG ratio of 27.53 and a beta of 1.40. Axon Enterprise, Inc has a twelve month low of $388.37 and a twelve month 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.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.58. The business had revenue of $668.54 million during the quarter, compared to analysts’ expectations of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The company’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. UBS Group reissued a “neutral” rating and issued a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a 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 company a “buy” rating in a report on Wednesday, August 6th. JMP Securities lifted their price target on Axon Enterprise from $725.00 to $825.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 22nd. Finally, Wolfe Research assumed coverage on Axon Enterprise in a research note on Monday, July 7th. They issued an “outperform” rating on the stock. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $841.64.

Insider Buying and Selling

In other Axon Enterprise news, CFO Brittany Bagley sold 870 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $773.25, for a total transaction of $672,727.50. Following the completion of the sale, the chief financial officer owned 113,022 shares of the company’s stock, valued at $87,394,261.50. This represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hadi Partovi purchased 1,358 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were bought at an average cost of $740.00 per share, for a total transaction of $1,004,920.00. Following the completion of the purchase, the director directly owned 237,938 shares of the company’s stock, valued at $176,074,120. The trade was a 0.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 44,932 shares of company stock worth $34,408,816 over the last ninety days. 4.40% of the stock is currently owned by corporate insiders.

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.