BI Asset Management Fondsmaeglerselskab A S Sells 14,341 Shares of Axon Enterprise, Inc $AXON

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 56.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,131 shares of the biotechnology company’s stock after selling 14,341 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Axon Enterprise were worth $7,988,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AXON. Vestor Capital LLC increased its stake in Axon Enterprise by 438,636.3% in the 2nd quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock worth $690,170,000 after acquiring an additional 833,409 shares during the last quarter. Norges Bank bought a new stake in Axon Enterprise in the second quarter worth $637,806,000. Jennison Associates LLC raised its stake in Axon Enterprise by 53.8% during the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock valued at $677,412,000 after purchasing an additional 330,213 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in Axon Enterprise during the second quarter valued at $255,833,000. Finally, Vanguard Group Inc. lifted its position in Axon Enterprise by 3.5% during the second quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock valued at $7,399,515,000 after purchasing an additional 305,252 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

Wall Street Analyst Weigh In

AXON has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Royal Bank Of Canada started coverage on Axon Enterprise in a research note on Monday, November 17th. They set an “outperform” rating and a $860.00 price objective on the stock. The Goldman Sachs Group decreased their price objective on Axon Enterprise from $940.00 to $800.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen cut Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Northcoast Research upgraded Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target on the stock in a report on Tuesday, January 6th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $805.71.

Insider Transactions at Axon Enterprise

In related news, CAO Jennifer H. Mak sold 1,134 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $600.00, for a total value of $680,400.00. Following the transaction, the chief accounting officer directly owned 13,740 shares in the company, valued at approximately $8,244,000. This represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction on Monday, December 8th. The stock was sold at an average price of $552.60, for a total transaction of $11,052,000.00. Following the sale, the president directly owned 249,502 shares of the company’s stock, valued at approximately $137,874,805.20. This trade represents a 7.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 50,540 shares of company stock worth $28,774,338 in the last three months. 4.40% of the stock is owned by corporate insiders.

Axon Enterprise Stock Down 7.2%

NASDAQ:AXON opened at $399.65 on Friday. The company’s 50-day simple moving average is $570.77 and its 200-day simple moving average is $660.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12. Axon Enterprise, Inc has a fifty-two week low of $397.82 and a fifty-two week high of $885.91. The stock has a market capitalization of $31.54 billion, a P/E ratio of 126.47, a P/E/G ratio of 12.97 and a beta of 1.48.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The business had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. During the same quarter in the prior year, the firm earned $1.45 earnings per share. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. On average, equities analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal 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.