PFG Investments LLC Raises Stock Position in Axon Enterprise, Inc $AXON

PFG Investments LLC grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 4.1% during the second quarter, HoldingsChannel.com reports. The fund owned 3,760 shares of the biotechnology company’s stock after purchasing an additional 147 shares during the quarter. PFG Investments LLC’s holdings in Axon Enterprise were worth $3,113,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AXON. TCI Wealth Advisors Inc. purchased a new position in Axon Enterprise in the second quarter valued at about $214,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Axon Enterprise in the first quarter valued at about $1,110,000. Quotient Wealth Partners LLC purchased a new stake in shares of Axon Enterprise during the 1st quarter valued at about $438,000. CX Institutional purchased a new stake in shares of Axon Enterprise during the 1st quarter valued at about $115,000. Finally, GAMMA Investing LLC raised its holdings in shares of Axon Enterprise by 11.8% during the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company’s stock valued at $765,000 after buying an additional 154 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

AXON opened at $717.64 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The company has a market capitalization of $56.34 billion, a P/E ratio of 177.20, a PEG ratio of 27.80 and a beta of 1.40. Axon Enterprise, Inc has a 1-year low of $395.37 and a 1-year high of $885.91. The company has a 50-day moving average of $757.83 and a 200-day moving average of $704.96.

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

Insiders Place Their Bets

In other Axon Enterprise news, President Joshua Isner sold 15,919 shares of the business’s stock in a transaction on 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 completion of the sale, the president owned 238,379 shares in the company, valued at $177,892,712.54. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brittany Bagley sold 5,000 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the sale, the chief financial officer owned 93,592 shares of the company’s stock, valued at approximately $66,813,456.96. The trade was a 5.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,932 shares of company stock worth $37,978,216. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AXON. Bank of America raised their target price on Axon Enterprise from $895.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Northland Securities set a $800.00 price objective on shares of Axon Enterprise in a research note on Tuesday, August 5th. Wolfe Research assumed coverage on shares of Axon Enterprise in a research note on Monday, July 7th. They set an “outperform” rating on the stock. Finally, Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the stock an “overweight” rating in a research note on Friday, July 11th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and an average 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.