Petra Financial Advisors Inc. Invests $975,000 in Axon Enterprise, Inc $AXON

Petra Financial Advisors Inc. purchased a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,178 shares of the biotechnology company’s stock, valued at approximately $975,000.

A number of other hedge funds have also bought and sold shares of AXON. TCTC Holdings LLC grew its stake in Axon Enterprise by 75.0% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 24 shares during the period. Bartlett & CO. Wealth Management LLC raised its stake in shares of Axon Enterprise by 132.0% during the 1st 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 purchased a new position in shares of Axon Enterprise in the 1st quarter worth about $31,000. Catalyst Capital Advisors LLC bought a new position in Axon Enterprise during the first quarter valued at about $32,000. Finally, Flaharty Asset Management LLC bought a new position in Axon Enterprise during the first quarter valued at about $33,000. 79.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $831.29, for a total value 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 $2,538,744,696.78. This trade represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Joshua Isner sold 15,919 shares of Axon Enterprise stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $746.26, for a total value 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. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,932 shares of company stock valued at $45,115,616 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AXON. Northland Securities set a $800.00 price objective on shares of Axon Enterprise in a research report on Tuesday, August 5th. Piper Sandler started coverage on shares of Axon Enterprise in a research note on Tuesday, September 23rd. They set an “overweight” rating and a $893.00 price target for the company. Morgan Stanley set a $885.00 price objective on Axon Enterprise and gave the company an “overweight” rating in a research note on Friday, July 11th. JPMorgan Chase & Co. increased their price objective on Axon Enterprise from $730.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Finally, Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average price target of $841.64.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $749.00 on Tuesday. The firm has a market cap of $58.80 billion, a P/E ratio of 184.94, a price-to-earnings-growth 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. The company’s 50 day moving average is $732.32 and its 200-day moving average is $727.76. Axon Enterprise, Inc has a 12-month low of $422.38 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share 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 analyst estimates of $641.77 million. During the same period in the previous year, the business earned $1.20 EPS. Axon Enterprise’s revenue was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. Sell-side analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

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.