Axon Enterprise, Inc $AXON Shares Acquired by Towarzystwo Funduszy Inwestycyjnych PZU SA

Key Points

• Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its Axon Enterprise stake by 46.4% in the fourth quarter, ending with 24,365 shares valued at about $13.8 million.
• Insider selling was notable, with President Joshua Isner and CEO Patrick W. Smith selling shares in June, part of $19.3 million in insider sales over the last three months.
• Axon reported better-than-expected quarterly results, including EPS of $1.61 and revenue of $807.35 million, while analysts still see a Moderate Buy rating with a consensus target price of $712.75.

Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 46.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,365 shares of the biotechnology company's stock after buying an additional 7,726 shares during the quarter. Axon Enterprise accounts for 3.5% of Towarzystwo Funduszy Inwestycyjnych PZU SA's holdings, making the stock its 7th largest holding. Towarzystwo Funduszy Inwestycyjnych PZU SA's holdings in Axon Enterprise were worth $13,838,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AXON. Baillie Gifford & Co. grew its stake in shares of Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock valued at $932,869,000 after buying an additional 1,516,099 shares in the last quarter. Edgewood Management LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at $846,516,000. Norges Bank acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at $515,764,000. Vanguard Group Inc. grew its stake in shares of Axon Enterprise by 4.2% in the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company's stock valued at $6,684,217,000 after buying an additional 376,904 shares in the last quarter. Finally, Sands Capital Management LLC grew its stake in shares of Axon Enterprise by 11.6% in the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock valued at $914,047,000 after buying an additional 167,095 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Joshua Isner sold 13,000 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the sale, the president directly owned 169,125 shares of the company's stock, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick W. Smith sold 20,000 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the sale, the chief executive officer directly owned 3,060,997 shares of the company's stock, valued at $1,530,498,500. The trade was a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 39,344 shares of company stock worth $19,267,315. Corporate insiders own 4.20% of the company's stock.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $441.73 on Monday. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The company has a market capitalization of $35.60 billion, a P/E ratio of 177.40, a PEG ratio of 8.03 and a beta of 1.45. The stock has a 50-day simple moving average of $410.34 and a 200-day simple moving average of $488.94.

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

Analyst Ratings Changes

Several research analysts recently commented on AXON shares. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a research note on Thursday, May 7th. Barclays lowered their target price on Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Citigroup reissued a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, February 25th. UBS Group lowered their target price on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Finally, Citizens Jmp lowered their target price on Axon Enterprise from $825.00 to $700.00 and set a "market outperform" rating for the company in a research note on Thursday, May 7th. One investment 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 MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $712.75.

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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