West Michigan Advisors LLC Makes New Investment in Axon Enterprise, Inc $AXON

West Michigan Advisors LLC purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 265 shares of the biotechnology company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. grew its position in shares of Axon Enterprise by 1.6% during the 2nd quarter. Asset Management One Co. Ltd. now owns 30,774 shares of the biotechnology company’s stock valued at $25,479,000 after acquiring an additional 489 shares during the period. 180 Wealth Advisors LLC lifted its stake in Axon Enterprise by 35.2% in the 2nd quarter. 180 Wealth Advisors LLC now owns 519 shares of the biotechnology company’s stock worth $430,000 after purchasing an additional 135 shares in the last quarter. Roman Butler Fullerton & Co. purchased a new stake in shares of Axon Enterprise during the 2nd quarter valued at approximately $501,000. Ethic Inc. raised its position in shares of Axon Enterprise by 90.8% during the 2nd quarter. Ethic Inc. now owns 4,865 shares of the biotechnology company’s stock valued at $3,982,000 after buying an additional 2,315 shares during the period. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Axon Enterprise during the 2nd quarter valued at approximately $206,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXON has been the topic of several analyst reports. Piper Sandler initiated coverage on shares of Axon Enterprise in a research report on Tuesday, September 23rd. They set an “overweight” rating and a $893.00 price target on the stock. Craig Hallum upgraded shares of Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 price target for the company in a research note on Tuesday, August 5th. UBS Group restated a “neutral” rating and issued a $840.00 price target (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Wolfe Research started coverage on shares of Axon Enterprise in a research note on Monday, July 7th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $841.64.

Insiders Place Their Bets

In other 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 value of $58,520.00. Following the completion of the sale, the chief accounting officer directly owned 15,003 shares of the company’s stock, valued at approximately $11,402,280. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Joshua Isner sold 15,919 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the transaction, the president directly owned 238,379 shares of the company’s stock, valued at $177,892,712.54. This represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,932 shares of company stock valued at $45,115,616. 4.40% of the stock is owned by insiders.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $735.95 on Friday. The company has a 50-day simple moving average of $733.17 and a 200-day simple moving average of $723.75. Axon Enterprise, Inc has a one year low of $422.38 and a one year high of $885.91. 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 stock has a market capitalization of $57.78 billion, a price-to-earnings ratio of 181.72, a PEG ratio of 27.82 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last announced 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. 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 during the quarter, compared to analysts’ expectations of $641.77 million. During the same period in the prior year, the company earned $1.20 earnings per share. The business’s revenue was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. On average, analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

About Axon Enterprise

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.