Axon Enterprise, Inc $AXON Shares Sold by Calamos Advisors LLC

Key Points

• Calamos Advisors LLC reported a large Q4 reduction in Axon holdings, selling 32,624,686 shares and leaving the firm with 8,750 shares valued at about $4.97 million.
• Several brokerages have trimmed price targets, but consensus remains a Moderate Buy with an average target of $749.63 (16 Buy, 2 Hold, 1 Sell).
• Axon beat quarterly estimates with EPS of $2.15 (vs. $1.60) and revenue of $796.7M, up 38.5% YoY, though the stock trades at a high valuation (P/E ~261) and a 1‑year range of $339.01–$885.91.

Calamos Advisors LLC reduced its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 100.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,750 shares of the biotechnology company's stock after selling 32,624,686 shares during the quarter. Calamos Advisors LLC's holdings in Axon Enterprise were worth $4,969,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AXON. Vicus Capital raised its stake in shares of Axon Enterprise by 3.7% in the 3rd quarter. Vicus Capital now owns 396 shares of the biotechnology company's stock worth $284,000 after buying an additional 14 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in Axon Enterprise by 3.8% during the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company's stock valued at $342,000 after buying an additional 15 shares in the last quarter. Blue Trust Inc. boosted its stake in Axon Enterprise by 2.5% during the third quarter. Blue Trust Inc. now owns 645 shares of the biotechnology company's stock valued at $463,000 after buying an additional 16 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in Axon Enterprise by 5.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 313 shares of the biotechnology company's stock worth $223,000 after acquiring an additional 16 shares during the period. Finally, WPG Advisers LLC raised its position in Axon Enterprise by 9.8% in the third quarter. WPG Advisers LLC now owns 190 shares of the biotechnology company's stock worth $136,000 after acquiring an additional 17 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AXON. Barclays cut their price target on shares of Axon Enterprise from $702.00 to $682.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. UBS Group lowered their price objective on shares of Axon Enterprise from $610.00 to $570.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 25th. TD Cowen cut their target price on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating for the company in a research note on Wednesday, April 8th. The Goldman Sachs Group reduced their target price on shares of Axon Enterprise from $720.00 to $625.00 and set a "buy" rating for the company in a report on Wednesday, April 8th. Finally, Piper Sandler decreased their price target on shares of Axon Enterprise from $753.00 to $690.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 25th. Sixteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $749.63.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $397.12 on Monday. The stock has a fifty day simple moving average of $456.49 and a 200 day simple moving average of $541.71. The firm has a market capitalization of $32.00 billion, a price-to-earnings ratio of 261.26, a price-to-earnings-growth ratio of 8.48 and a beta of 1.61. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

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

Insider Buying and Selling at Axon Enterprise

In related news, CAO Jennifer H. Mak sold 1,500 shares of the firm'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 value of $860,175.00. Following the completion of the transaction, the chief accounting officer owned 12,240 shares of the company's stock, valued at approximately $7,019,028. This trade represents a 10.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeri Williams sold 157 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total transaction of $76,930.00. Following the transaction, the director owned 1,159 shares in the company, valued at approximately $567,910. The trade was a 11.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,855 shares of company stock valued at $7,109,828 over the last three months. 5.70% of the stock is owned by insiders.

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.

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