Meridian Investment Counsel Inc. Trims Stock Position in Axon Enterprise, Inc $AXON

Meridian Investment Counsel Inc. lessened its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,779 shares of the biotechnology company’s stock after selling 21 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Axon Enterprise were worth $2,301,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Axon Enterprise by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company’s stock worth $4,540,005,000 after buying an additional 185,571 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Axon Enterprise by 15.9% during the 1st quarter. Alliancebernstein L.P. now owns 1,284,935 shares of the biotechnology company’s stock worth $675,812,000 after buying an additional 175,890 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Axon Enterprise by 29.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock valued at $487,977,000 after purchasing an additional 212,931 shares during the last quarter. GAMMA Investing LLC raised its position in Axon Enterprise by 58,725.5% in the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company’s stock valued at $402,210,000 after purchasing an additional 763,431 shares during the last quarter. Finally, Northern Trust Corp raised its position in Axon Enterprise by 1.2% in the 1st quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company’s stock valued at $381,692,000 after purchasing an additional 8,794 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Down 0.5%

Shares of Axon Enterprise stock opened at $708.84 on Friday. The company has a market cap of $55.64 billion, a P/E ratio of 175.02, a PEG ratio of 27.65 and a beta of 1.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. Axon Enterprise, Inc has a one year low of $388.37 and a one year high of $885.91. The firm has a fifty day moving average of $758.60 and a two-hundred day moving average of $701.58.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS 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 the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise’s quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. On average, analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Activity at Axon Enterprise

In other Axon Enterprise 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Joshua Isner sold 15,919 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the transaction, the president directly owned 238,379 shares in the company, valued at approximately $177,892,712.54. This trade represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,932 shares of company stock worth $34,408,816 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AXON. Northland Securities set a $800.00 price target on shares of Axon Enterprise in a research report on Tuesday, August 5th. JMP Securities upped their price target on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 22nd. Piper Sandler began coverage on shares of Axon Enterprise in a research report on Tuesday. They issued an “overweight” rating and a $893.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $870.00 price target on shares of Axon Enterprise in a research report on Wednesday. Finally, UBS Group reiterated a “neutral” rating and issued a $840.00 price target (up previously 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 three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average 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.