Amundi Trims Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Amundi reduced its Axon Enterprise stake by 0.9% in the first quarter, selling 3,982 shares and retaining 436,435 shares worth approximately $185.35 million. Institutional investors and hedge funds collectively own 79.08% of the company.
• Axon insiders have sold 58,989 shares valued at roughly $30.5 million over the past three months, including sales by CEO Patrick W. Smith and director Caitlin Elizabeth Kalinowski.
• Analyst sentiment remains positive, with 15 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $725.25. Axon’s latest quarterly revenue rose 33.7% year over year to $807.35 million, slightly exceeding estimates.

Amundi lessened its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 436,435 shares of the biotechnology company's stock after selling 3,982 shares during the quarter. Amundi owned 0.54% of Axon Enterprise worth $185,350,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AXON. Darwin Wealth Management LLC purchased a new position in Axon Enterprise during the 2nd quarter worth approximately $37,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise in the fourth quarter worth $28,000. Sound Income Strategies LLC raised its holdings in shares of Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 44 shares during the last quarter. Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise during the fourth quarter worth $30,000. Finally, AlphaCentric Advisors LLC acquired a new position in Axon Enterprise during the fourth quarter valued at $34,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $643.79, for a total value of $6,437,900.00. Following the completion of the transaction, the chief executive officer directly owned 3,040,997 shares of the company's stock, valued at $1,957,763,458.63. The trade was a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $478.97, for a total transaction of $270,139.08. Following the sale, the director owned 3,632 shares in the company, valued at $1,739,619.04. This trade represents a 13.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,989 shares of company stock worth $30,527,983 in the last three months. Company insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Zacks Research downgraded Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. JPMorgan Chase & Co. boosted their price target on Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Morgan Stanley set a $600.00 price objective on shares of Axon Enterprise in a research note on Thursday, May 7th. Needham & Company LLC increased their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $700.00 price objective on shares of Axon Enterprise in a report on Thursday, June 25th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $725.25.

Axon Enterprise Stock Performance

AXON opened at $525.30 on Friday. The company has a market cap of $42.34 billion, a price-to-earnings ratio of 210.96, a PEG ratio of 10.84 and a beta of 1.38. The firm's fifty day simple moving average is $494.25 and its two-hundred day simple moving average is $476.25. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91.

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 for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm's revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 EPS. Equities analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal 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.

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