Pictet Asset Management Holding SA Has $25.09 Million Position in Axon Enterprise, Inc $AXON

Pictet Asset Management Holding SA lowered its position in Axon Enterprise, Inc (NASDAQ:AXON) by 12.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 44,171 shares of the biotechnology company’s stock after selling 6,385 shares during the period. Pictet Asset Management Holding SA’s holdings in Axon Enterprise were worth $25,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXON. Stone House Investment Management LLC bought a new position in Axon Enterprise during the third quarter worth about $29,000. New Millennium Group LLC acquired a new position in Axon Enterprise during the 3rd quarter worth $29,000. Darwin Wealth Management LLC bought a new position in shares of Axon Enterprise in the 2nd quarter valued at about $37,000. Root Financial Partners LLC acquired a new stake in shares of Axon Enterprise during the third quarter worth $34,000. Finally, Sound Income Strategies LLC grew its holdings in Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 44 shares during the period. 79.08% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Jennifer H. Mak sold 1,500 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $573.45, for a total transaction of $860,175.00. Following the completion of the sale, the chief accounting officer directly owned 12,240 shares of the company’s stock, valued at $7,019,028. The trade was a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Erika Nardini sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total value of $100,302.84. Following the sale, the director directly owned 1,946 shares of the company’s stock, valued at $985,804.68. This represents a 9.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 13,855 shares of company stock valued at $7,109,828. 4.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AXON has been the subject of several research reports. Northcoast Research raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective for the company in a research report on Tuesday, January 6th. Needham & Company LLC lowered their price target on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Weiss Ratings cut shares of Axon Enterprise from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. TD Cowen decreased their target price on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, February 25th. Sixteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and a consensus price target of $749.63.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $401.76 on Friday. The firm has a 50 day moving average of $454.05 and a 200-day moving average of $535.39. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91. The company has a market cap of $32.37 billion, a price-to-earnings ratio of 264.32, a price-to-earnings-growth ratio of 8.55 and a beta of 1.61. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.55. The company had revenue of $796.72 million for the quarter, compared to analysts’ expectations of $755.29 million. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The business’s revenue was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 EPS. On average, equities analysts forecast that Axon Enterprise, Inc will post 1.41 earnings per share for the current year.

Axon Enterprise 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.