Axon Enterprise, Inc $AXON Stock: Oppenheimer & Co. Inc. Trims Position

Oppenheimer & Co. Inc. decreased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 27.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,564 shares of the biotechnology company’s stock after selling 1,358 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Axon Enterprise were worth $1,506,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXON. State Street Corp grew its stake in shares of Axon Enterprise by 5,700.2% in the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after buying an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Axon Enterprise by 18,050.2% in the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after acquiring an additional 13,127,348 shares in the last quarter. BlackRock Inc. boosted its holdings in Axon Enterprise by 4.3% in the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock valued at $4,672,432,000 after purchasing an additional 345,365 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Axon Enterprise by 391,214.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock valued at $2,952,943,000 after purchasing an additional 6,987,098 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Axon Enterprise by 5,022.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after purchasing an additional 4,183,302 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the sale, the chief executive officer directly owned 3,118,012 shares of the company’s stock, valued at $1,587,036,927.88. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 47,397 shares of company stock worth $26,722,984. 4.20% of the stock is currently owned by company insiders.

Key Stories Impacting Axon Enterprise

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

• Positive Sentiment: An analyst opinion upgraded Axon Enterprise to “Buy,” arguing that the company’s valuation premium has narrowed and that its integrated public-safety hardware and cloud-software ecosystem continues to support strong growth. Axon Enterprise: Upgrading To Buy As The Premium Fades
• Positive Sentiment: Recent comparisons with DocuSign, Adobe and Datadog highlighted Axon’s rapid expansion in public safety and its combination of connected devices, software and recurring services. Other coverage also raised the possibility of substantial long-term upside, though these articles were opinion-based rather than new company announcements. Can Axon Stock Jump 50?
• Neutral Sentiment: Investment comparisons positioned Axon as a high-growth public-safety technology company, but offered no new financial results, contracts or guidance that would immediately change earnings expectations. Axon Enterprise vs. DocuSign
• Negative Sentiment: Investors may be reducing exposure before earnings because Zacks said Axon does not appear to have the usual combination of factors supporting a likely earnings beat. That raises the risk of volatility if results or guidance fall short of expectations. Axon Reports Next Week
• Negative Sentiment: Concerns remain that employee share-based compensation taxes are consuming cash despite strong growth, while the stock’s premium valuation leaves limited room for execution errors. Strong Growth, But Staff Share Taxes Eat The Cash
• Negative Sentiment: Axon’s larger decline than the broader market indicates near-term selling pressure, likely reflecting profit-taking and pre-earnings caution rather than a newly announced operational setback. Axon Registers a Bigger Fall Than the Market

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Piper Sandler cut their price target on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating on the stock in a report on Tuesday, October 20th. Northcoast Research increased their price target on shares of Axon Enterprise from $650.00 to $680.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Barclays lifted their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Argus upped their price target on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $688.38.

Axon Enterprise Price Performance

AXON stock opened at $427.77 on Monday. The firm’s 50-day moving average is $463.44 and its two-hundred day moving average is $481.21. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $34.75 billion, a price-to-earnings ratio of 177.50, a price-to-earnings-growth ratio of 8.13 and a beta of 1.44. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $749.96.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. During the same period in the previous year, the business earned $2.12 earnings per share. Axon Enterprise’s revenue for the quarter was up 35.3% compared to the same quarter last year. On average, analysts forecast that Axon Enterprise, Inc will post 2.10 earnings per share for the current fiscal year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.