BI Asset Management Fondsmaeglerselskab A S Decreases Position in Axon Enterprise, Inc $AXON

BI Asset Management Fondsmaeglerselskab A S lessened its position in Axon Enterprise, Inc (NASDAQ:AXON) by 56.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 institutional investors and hedge funds also recently made changes to their positions in AXON. Brighton Jones LLC purchased a new stake in Axon Enterprise during the 4th quarter valued at $480,000. NewEdge Advisors LLC raised its stake in shares of Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 668 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after purchasing an additional 157 shares in the last quarter. Woodline Partners LP boosted its position in shares of Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after buying an additional 2,003 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in Axon Enterprise in the 2nd quarter worth about $284,000. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

AXON opened at $399.65 on Friday. The company’s 50 day moving average is $570.77 and its 200 day moving average is $660.96. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57. The company has a market cap of $31.54 billion, a price-to-earnings ratio of 126.47, a PEG ratio of 12.97 and a beta of 1.48. Axon Enterprise, Inc has a 12-month low of $397.82 and a 12-month high of $885.91.

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

Insider Buying and Selling at Axon Enterprise

In related news, President Joshua Isner sold 20,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $552.60, for a total value of $11,052,000.00. Following the completion of the transaction, the president owned 249,502 shares of the company’s stock, valued at approximately $137,874,805.20. This represents a 7.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $619.01, for a total value of $6,190,100.00. Following the sale, the chief executive officer directly owned 3,100,997 shares in the company, valued at approximately $1,919,548,152.97. This represents a 0.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 50,540 shares of company stock valued at $28,774,338. 4.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on AXON. Piper Sandler decreased their target price on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen cut shares of Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Morgan Stanley lowered their price objective on shares of Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. The Goldman Sachs Group dropped their target price on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday. Fifteen 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $805.71.

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.