Whittier Trust Co. Grows Stock Holdings in Axon Enterprise, Inc $AXON

Whittier Trust Co. raised its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,400 shares of the biotechnology company’s stock after buying an additional 501 shares during the period. Whittier Trust Co.’s holdings in Axon Enterprise were worth $16,890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AXON. Jennison Associates LLC increased its holdings in Axon Enterprise by 23,203.7% during the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company’s stock valued at $322,961,000 after buying an additional 611,418 shares during the last quarter. Nuveen LLC purchased a new stake in Axon Enterprise during the first quarter valued at approximately $264,796,000. McElhenny Sheffield Capital Management LLC purchased a new stake in Axon Enterprise during the second quarter valued at approximately $255,833,000. Westfield Capital Management Co. LP increased its holdings 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 valued at $487,977,000 after buying an additional 212,931 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings 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 buying an additional 185,571 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

AXON opened at $683.13 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. The company has a 50 day simple moving average of $736.73 and a two-hundred day simple moving average of $720.91. Axon Enterprise, Inc has a 1-year low of $422.38 and a 1-year high of $885.91. The firm has a market cap of $53.63 billion, a P/E ratio of 168.67, a PEG ratio of 26.04 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping 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 firm had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. During the same quarter in the prior year, the business earned $1.20 earnings per share. Axon Enterprise’s revenue for the quarter was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. Equities analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the completion of the transaction, the chief executive officer owned 3,053,982 shares in the company, valued at approximately $2,538,744,696.78. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brittany Bagley sold 5,000 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the transaction, the chief financial officer owned 93,592 shares of the company’s stock, valued at approximately $66,813,456.96. This represents a 5.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,932 shares of company stock valued at $45,115,616 in the last quarter. Company insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Northland Securities set a $800.00 target price on shares of Axon Enterprise in a report on Tuesday, August 5th. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the stock an “overweight” rating in a research report on Friday, July 11th. 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 report on Tuesday, August 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Axon Enterprise in a research report on Wednesday, October 8th. Finally, UBS Group reiterated a “neutral” rating and issued a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $841.64.

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.