Axon Enterprise, Inc $AXON Shares Sold by AustralianSuper Pty Ltd

Key Points

• AustralianSuper Pty Ltd cut its Axon Enterprise stake by 32.5% in the fourth quarter, selling 26,910 shares and leaving it with 55,869 shares valued at about $31.7 million.
• Analyst sentiment remains broadly positive, with 16 Buy ratings and 3 Hold ratings; the consensus price target is $712.75, even as several firms trimmed their individual targets.
• Axon reported quarterly EPS of $1.61 versus $1.60 expected and revenue of $807.35 million, up 33.7% year over year, while the stock traded around $388.19 and remains well below its 12-month high.

AustralianSuper Pty Ltd lowered its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 32.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,869 shares of the biotechnology company's stock after selling 26,910 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.07% of Axon Enterprise worth $31,730,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Axon Enterprise in the fourth quarter valued at $480,000. NewEdge Advisors LLC boosted its position in shares of Axon Enterprise by 41.1% during the 1st 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 in the last quarter. Empowered Funds LLC boosted its position in shares of Axon Enterprise by 8.4% during the 1st 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 in the last quarter. Woodline Partners LP increased its holdings in shares of Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock valued at $3,646,000 after acquiring an additional 2,003 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Axon Enterprise during the 2nd quarter worth about $284,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Barclays cut their price objective on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Royal Bank Of Canada lowered their target price on shares of Axon Enterprise from $860.00 to $735.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. William Blair reaffirmed an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Finally, Morgan Stanley set a $600.00 price target on shares of Axon Enterprise in a research note on Thursday, May 7th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and a consensus price target of $712.75.

Insider Buying and Selling

In other news, Director Jeri Williams sold 157 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 1,159 shares of the company's stock, valued at approximately $567,910. The trade was a 11.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer H. Mak sold 1,500 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 13,855 shares of company stock worth $7,109,828. 4.40% of the stock is currently owned by insiders.

Axon Enterprise Stock Up 3.0%

AXON stock opened at $388.19 on Friday. The company has a market cap of $31.29 billion, a price-to-earnings ratio of 155.90, a price-to-earnings-growth ratio of 8.86 and a beta of 1.44. The company has a fifty day moving average price of $435.78 and a 200 day moving average price of $516.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.91 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 last year, the firm posted $1.47 EPS. Sell-side analysts expect that Axon Enterprise, Inc will post 1.41 earnings per share for the current 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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