Malaga Cove Capital LLC Purchases 943 Shares of Axon Enterprise, Inc $AXON

Malaga Cove Capital LLC raised its position in Axon Enterprise, Inc (NASDAQ:AXON) by 126.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,690 shares of the biotechnology company’s stock after buying an additional 943 shares during the period. Malaga Cove Capital LLC’s holdings in Axon Enterprise were worth $947,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Evergreen Capital Management LLC boosted its stake in shares of Axon Enterprise by 3.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after buying an additional 15 shares during the last quarter. Synergy Financial Group LTD increased its position in shares of Axon Enterprise by 1.4% during the third quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock valued at $996,000 after acquiring an additional 19 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Axon Enterprise by 1.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company’s stock valued at $1,350,000 after acquiring an additional 19 shares during the last quarter. Certuity LLC lifted its holdings in Axon Enterprise by 5.1% during the fourth quarter. Certuity LLC now owns 474 shares of the biotechnology company’s stock worth $269,000 after acquiring an additional 23 shares during the period. Finally, Pure Financial Advisors LLC lifted its holdings in Axon Enterprise by 6.7% during the fourth quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 23 shares during the period. Institutional investors own 79.08% of the company’s stock.

Key Headlines Impacting Axon Enterprise

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Strong Q2 results and raised outlook: Axon exceeded expectations with adjusted earnings of $1.88 per share versus $1.84 expected and revenue of $904.4 million versus $876.4 million expected. Revenue grew 35.3% year over year, and management’s improved outlook supports the long-term growth story. Should You Buy, Hold or Sell AXON Stock Post Q2 Earnings Release?
• Positive Sentiment: Connected Devices momentum: TASER devices, body cameras and counter-drone products are driving strong hardware demand. Continued adoption of these products, combined with Axon’s cloud-based evidence and records software, reinforces the company’s integrated platform strategy. Will Strength in Connected Devices Unit Continue to Drive AXON’s Growth?
• Positive Sentiment: Bullish strategic commentary: Analysts highlighted Axon as a strong contender in law-enforcement technology, while coverage pointed to new artificial-intelligence capabilities as an additional growth catalyst for public-safety customers. Axon: A Strong Contender in Law Enforcement Tech
• Neutral Sentiment: Technical consolidation: AXON remains in a strong broader uptrend but has recently consolidated, leaving investors watching whether momentum resumes or the rally pauses. Stock of the Day: Is the Axon Rally Over?
• Negative Sentiment: Valuation and profitability risks: Despite strong revenue growth, analysts cautioned that Axon’s high earnings multiple, elevated costs, debt and relatively modest margins reduce its near-term appeal. Memory costs and counter-drone investments could also pressure profitability if spending rises faster than sales.
• Negative Sentiment: CEO share sale: CEO Patrick Smith sold 9,930 shares worth approximately $5.45 million. The transaction occurred under a pre-arranged Rule 10b5-1 plan and represented only 0.33% of his holdings, making it a limited signal but a potential source of investor caution.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AXON shares. Citizens Jmp reissued a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Piper Sandler lifted their target price on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. The Goldman Sachs Group reissued a “buy” rating and issued a $715.00 price target on shares of Axon Enterprise in a report on Thursday, August 6th. Finally, Morgan Stanley increased their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $730.92.

Insider Buying and Selling

In related news, CRO Cameron Brooks sold 1,242 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the sale, the executive directly owned 49,710 shares in the company, valued at approximately $24,855,000. The trade was a 2.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the sale, the director directly owned 3,632 shares in the company, valued at approximately $1,739,619.04. This trade represents a 13.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 68,989 shares of company stock worth $36,016,932 in the last quarter. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $615.59 on Friday. The business’s 50 day simple moving average is $523.52 and its 200 day simple moving average is $473.43. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $794.29. The company has a market cap of $50.01 billion, a price-to-earnings ratio of 255.43, a PEG ratio of 12.24 and a beta of 1.39. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The business’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period last year, the business posted $2.12 earnings per share. Sell-side analysts forecast that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.