Shell Asset Management Co. Boosts Stock Holdings in Axon Enterprise, Inc $AXON

Shell Asset Management Co. grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 28.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,480 shares of the biotechnology company’s stock after acquiring an additional 553 shares during the period. Shell Asset Management Co.’s holdings in Axon Enterprise were worth $2,053,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Roundview Capital LLC raised its stake in shares of Axon Enterprise by 25.8% in the 2nd quarter. Roundview Capital LLC now owns 1,461 shares of the biotechnology company’s stock valued at $1,210,000 after acquiring an additional 300 shares during the period. KLP Kapitalforvaltning AS raised its stake in shares of Axon Enterprise by 9.2% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 39,000 shares of the biotechnology company’s stock valued at $32,290,000 after acquiring an additional 3,300 shares during the period. Hardy Reed LLC purchased a new position in shares of Axon Enterprise in the 2nd quarter valued at $277,000. Tcfg Wealth Management LLC raised its stake in shares of Axon Enterprise by 5.3% in the 2nd quarter. Tcfg Wealth Management LLC now owns 777 shares of the biotechnology company’s stock valued at $643,000 after acquiring an additional 39 shares during the period. Finally, Belpointe Asset Management LLC raised its stake in shares of Axon Enterprise by 108.5% in the 2nd quarter. Belpointe Asset Management LLC now owns 1,172 shares of the biotechnology company’s stock valued at $970,000 after acquiring an additional 610 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Up 1.8%

Axon Enterprise stock opened at $727.41 on Thursday. The firm has a 50-day moving average price of $756.79 and a two-hundred day moving average price of $710.65. The firm has a market capitalization of $57.10 billion, a price-to-earnings ratio of 179.61, a PEG ratio of 27.75 and a beta of 1.41. Axon Enterprise, Inc has a 52-week low of $422.21 and a 52-week high of $885.91. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly 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. The company had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. Sell-side analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Jennifer H. Mak sold 77 shares of the company’s stock in a transaction that occurred on 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeri Williams sold 100 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $752.54, for a total transaction of $75,254.00. Following the completion of the sale, the director directly owned 1,416 shares of the company’s stock, valued at approximately $1,065,596.64. This represents a 6.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,932 shares of company stock worth $45,115,616. Company insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AXON. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the company an “overweight” rating in a report on Friday, July 11th. Bank of America raised their price target on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. UBS Group reaffirmed a “neutral” rating and set a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. JMP Securities reaffirmed a “market outperform” rating and set a $825.00 price target on shares of Axon Enterprise in a report on Monday, September 29th. Finally, Craig Hallum raised shares of Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 price target for the company in a report on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Axon Enterprise currently has a consensus 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.