23,090 Shares in Axon Enterprise, Inc $AXON Acquired by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR S.p.A. disclosed a new stake in Axon Enterprise, buying 23,090 shares valued at about $13.1 million in the fourth quarter.
• Axon’s latest quarterly results beat expectations, with EPS of $1.61 versus $1.60 expected and revenue of $807.35 million, up 33.7% year over year.
• Analysts remain broadly positive on the stock despite recent target cuts, with a consensus rating of Moderate Buy and an average price target of $712.75.

Eurizon Capital SGR S.p.A. acquired a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,090 shares of the biotechnology company's stock, valued at approximately $13,116,000.

Several other hedge funds also recently added to or reduced their stakes in AXON. Brighton Jones LLC purchased a new position in Axon Enterprise in the fourth quarter worth approximately $480,000. NewEdge Advisors LLC grew its position in 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 acquiring an additional 668 shares during the period. Empowered Funds LLC grew its position in Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock worth $1,067,000 after acquiring an additional 157 shares during the period. Woodline Partners LP grew its position in Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock worth $3,646,000 after acquiring an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in Axon Enterprise in the second quarter worth approximately $284,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on AXON. TD Cowen decreased their price target on Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. The Goldman Sachs Group set a $535.00 price target on Axon Enterprise in a research note on Thursday, May 7th. Barclays decreased their price target on Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Morgan Stanley set a $600.00 price target on Axon Enterprise in a research note on Thursday, May 7th. Finally, William Blair restated an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $712.75.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $448.72 on Monday. The stock has a market cap of $36.17 billion, a P/E ratio of 180.21, a PEG ratio of 8.16 and a beta of 1.45. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91. The business's fifty day simple moving average is $407.53 and its 200-day simple moving average is $494.02.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million for the quarter, compared to analysts' expectations of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the firm earned $1.47 earnings per share. As a group, equities analysts predict that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Insider Activity

In other news, Director Jeri Williams sold 157 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total value of $76,930.00. Following the sale, the director directly owned 1,159 shares in the company, valued at approximately $567,910. This trade represents a 11.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Isaiah Fields sold 2,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the completion of the sale, the insider owned 52,813 shares in the company, valued at approximately $21,125,200. The trade was a 3.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,355 shares of company stock worth $977,233. Corporate insiders own 4.20% of the company's stock.

About Axon Enterprise

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.

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