Artemis Investment Management LLP Trims Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Artemis Investment Management trimmed its stake in Axon by 17.5%, selling 28,356 shares and ending the quarter with 133,804 shares worth about $75.99 million (0.17% of the company) per its Form 13F filing.
• Axon beat expectations for the quarter with EPS of $2.15 vs. $1.60 estimated and revenue of $796.7 million (vs. $755.3 million est.), a 38.5% year‑over‑year revenue increase.
• Analysts maintain a consensus "Moderate Buy" (16 buys, 2 holds, 1 sell) with a consensus target price of $749.63, while insiders have sold 13,855 shares (~$7.11 million) over the past three months.

Artemis Investment Management LLP decreased its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 17.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,804 shares of the biotechnology company's stock after selling 28,356 shares during the period. Artemis Investment Management LLP owned 0.17% of Axon Enterprise worth $75,991,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AXON. Stone House Investment Management LLC purchased a new position in Axon Enterprise during the third quarter worth about $29,000. New Millennium Group LLC purchased a new position in Axon Enterprise in the 3rd quarter worth approximately $29,000. Sound Income Strategies LLC grew its stake in Axon Enterprise by 550.0% in the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock worth $30,000 after buying an additional 44 shares in the last quarter. Camelot Portfolios LLC purchased a new position in Axon Enterprise in the 4th quarter worth approximately $30,000. Finally, Root Financial Partners LLC purchased a new position in Axon Enterprise in the 3rd quarter worth approximately $34,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Trading Up 0.1%

Shares of NASDAQ AXON opened at $402.31 on Friday. The firm has a 50-day moving average of $454.05 and a 200 day moving average of $535.39. The stock has a market cap of $32.41 billion, a P/E ratio of 264.68, a price-to-earnings-growth ratio of 8.57 and a beta of 1.44. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 2.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.55. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The business had revenue of $796.72 million during the quarter, compared to analysts' expectations of $755.29 million. During the same quarter in the previous year, the business earned $2.08 earnings per share. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

AXON has been the subject of a number of research reports. Citigroup reiterated a "buy" rating on shares of Axon Enterprise in a report on Wednesday, February 25th. Weiss Ratings cut Axon Enterprise from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 10th. Craig Hallum reiterated a "buy" rating and issued a $820.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 25th. William Blair reaffirmed an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. Finally, Royal Bank Of Canada cut their price objective on shares of Axon Enterprise from $860.00 to $735.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. Sixteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and a consensus target price of $749.63.

Insider Activity

In other Axon Enterprise news, CAO Jennifer H. Mak sold 1,500 shares of the company's stock in a transaction that occurred on 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 approximately $7,019,028. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Isaiah Fields sold 2,000 shares of the company's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the sale, the insider directly owned 55,588 shares of the company's stock, valued at approximately $29,740,135.88. This represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,855 shares of company stock valued at $7,109,828 over the last three months. Corporate insiders own 4.40% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.