Zurich Insurance Group Ltd FI Sells 58,874 Shares of Axon Enterprise, Inc $AXON

Key Points

• Zurich Insurance Group Ltd FI reduced its stake in Axon Enterprise by 33.0%, selling 58,874 shares and maintaining ownership of 119,522 shares worth approximately $62.86 million.
• Axon Enterprise's stock opened at $740.61 with a market cap of $58.14 billion and reported a net margin of 13.64% and a revenue increase of 32.6% year-over-year.
• Several brokerages have raised their price targets for Axon Enterprise, with Goldman Sachs increasing its target from $730 to $830 and JPMorgan Chase setting a target of $850, reflecting a general consensus of a moderate buy rating for the stock.

Zurich Insurance Group Ltd FI decreased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 33.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,522 shares of the biotechnology company's stock after selling 58,874 shares during the period. Zurich Insurance Group Ltd FI owned 0.15% of Axon Enterprise worth $62,863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Empowered Funds LLC increased its stake in shares of Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock valued at $1,067,000 after buying an additional 157 shares during the period. MBB Public Markets I LLC acquired a new stake in shares of Axon Enterprise in the first quarter valued at about $294,000. United Services Automobile Association acquired a new stake in shares of Axon Enterprise in the first quarter valued at about $879,000. Signature Estate & Investment Advisors LLC increased its stake in shares of Axon Enterprise by 4.3% in the first quarter. Signature Estate & Investment Advisors LLC now owns 532 shares of the biotechnology company's stock valued at $280,000 after buying an additional 22 shares during the period. Finally, Fred Alger Management LLC increased its stake in shares of Axon Enterprise by 18.1% in the first quarter. Fred Alger Management LLC now owns 35,224 shares of the biotechnology company's stock valued at $18,526,000 after buying an additional 5,388 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AXON shares. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target for the company in a research note on Tuesday, August 5th. Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the company an "overweight" rating in a research report on Friday, July 11th. UBS Group restated a "neutral" rating and set a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. JMP Securities upped their target price on Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 22nd. Finally, Wolfe Research initiated coverage on Axon Enterprise in a research report on Monday, July 7th. They set an "outperform" rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Axon Enterprise presently has an average rating of "Moderate Buy" and a consensus price target of $837.69.

Axon Enterprise Stock Up 0.7%

NASDAQ:AXON traded up $5.02 on Friday, hitting $756.13. The stock had a trading volume of 303,694 shares, compared to its average volume of 447,052. The business's fifty day moving average is $761.10 and its 200 day moving average is $688.38. The company has a market cap of $59.36 billion, a PE ratio of 186.70, a P/E/G ratio of 27.75 and a beta of 1.40. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a 52 week low of $375.71 and a 52 week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.58. The business had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The company's quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the transaction, the insider owned 144,538 shares in the company, valued at approximately $108,417,953.80. This represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hadi Partovi purchased 1,358 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $740.00 per share, for a total transaction of $1,004,920.00. Following the acquisition, the director owned 237,938 shares of the company's stock, valued at approximately $176,074,120. This represents a 0.57% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 44,790 shares of company stock valued at $34,304,947. 5.70% of the stock is currently owned by corporate insiders.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.