Axon Enterprise, Inc $AXON Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden increased its Axon Enterprise stake by 60.5% in the first quarter, adding 7,190 shares to bring its total to 19,080 shares worth about $8.1 million.
• Wall Street remains broadly positive on Axon, with analysts assigning a Moderate Buy consensus and an average price target of $712.75, despite some mixed individual ratings and target cuts.
• Insiders have been trimming shares: CEO Patrick W. Smith sold 10,000 shares for $5 million, and insiders have sold 48,989 shares worth about $24.1 million over the last 90 days.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 60.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,080 shares of the biotechnology company's stock after acquiring an additional 7,190 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Axon Enterprise were worth $8,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Evergreen Capital Management LLC lifted its holdings in shares of Axon Enterprise by 3.8% in the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company's stock valued at $342,000 after purchasing an additional 15 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Axon Enterprise by 0.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company's stock worth $2,848,000 after purchasing an additional 19 shares in the last quarter. CWA Asset Management Group LLC increased its stake in shares of Axon Enterprise by 5.2% during the 4th quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company's stock worth $220,000 after purchasing an additional 19 shares in the last quarter. Synergy Financial Group LTD raised its position in shares of Axon Enterprise by 1.4% during the 3rd quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company's stock worth $996,000 after purchasing an additional 19 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Axon Enterprise by 1.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company's stock worth $1,350,000 after purchasing an additional 19 shares during the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. The Goldman Sachs Group set a $535.00 price target on Axon Enterprise in a report on Thursday, May 7th. Piper Sandler reissued an "overweight" rating and issued a $674.00 price target on shares of Axon Enterprise in a report on Monday, June 15th. UBS Group reduced their price objective on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Finally, Morgan Stanley set a $600.00 price objective on Axon Enterprise in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Axon Enterprise presently has an average rating of "Moderate Buy" and a consensus target price of $712.75.

Insider Buying and Selling at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $500.00, for a total transaction of $5,000,000.00. Following the sale, the chief executive officer owned 3,050,997 shares in the company, valued at $1,525,498,500. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the sale, the insider directly owned 34,024 shares of the company's stock, valued at approximately $16,501,640. This represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 48,989 shares of company stock valued at $24,090,083. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Stock Performance

Shares of AXON opened at $597.04 on Monday. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The company's 50 day simple moving average is $437.68 and its 200 day simple moving average is $481.91. The company has a market capitalization of $48.12 billion, a price-to-earnings ratio of 239.78, a PEG ratio of 12.18 and a beta of 1.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million during the quarter, compared to analysts' expectations of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. Axon Enterprise's revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.47 EPS. On average, sell-side analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current year.

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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