GC Wealth Management RIA LLC Buys Shares of 269 Axon Enterprise, Inc $AXON

GC Wealth Management RIA LLC acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the 2nd quarter, HoldingsChannel reports. The fund acquired 269 shares of the biotechnology company’s stock, valued at approximately $223,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC raised its stake in shares of Axon Enterprise by 23,203.7% in the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company’s stock valued at $322,961,000 after acquiring an additional 611,418 shares during the last quarter. Nuveen LLC bought a new position in Axon Enterprise during the 1st quarter worth approximately $264,796,000. Westfield Capital Management Co. LP increased its position in shares of Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock worth $487,977,000 after acquiring an additional 212,931 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Axon Enterprise by 2.2% during the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company’s stock worth $4,540,005,000 after acquiring an additional 185,571 shares in the last quarter. Finally, Axiom Investors LLC DE bought a new position in Axon Enterprise in the first quarter valued at $93,088,000. 79.08% of the stock is owned by institutional investors.

Insider Activity

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total value of $5,919,039.10. Following the sale, the insider owned 144,538 shares of the company’s stock, valued at $108,417,953.80. This trade represents a 5.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Joshua Isner sold 15,919 shares of the firm’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 completion of the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,932 shares of company stock valued at $37,978,216. Insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wolfe Research began coverage on shares of Axon Enterprise in a report on Monday, July 7th. They issued an “outperform” rating on the stock. Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. JMP Securities restated a “market outperform” rating and issued a $825.00 price target on shares of Axon Enterprise in a research report on Monday. UBS Group reiterated a “neutral” rating and issued a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $885.00 price objective on shares of Axon Enterprise and gave the stock an “overweight” rating in a report on Friday, July 11th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $841.64.

Axon Enterprise Price Performance

AXON stock opened at $720.53 on Friday. The firm has a 50 day moving average of $758.18 and a 200-day moving average of $706.15. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a 12 month low of $403.16 and a 12 month high of $885.91. The firm has a market capitalization of $56.56 billion, a P/E ratio of 177.91, a price-to-earnings-growth ratio of 27.62 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results 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. The business had revenue of $668.54 million for 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 period last year, the firm posted $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

About Axon Enterprise

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.