BI Asset Management Fondsmaeglerselskab A S Sells 2,126 Shares of Axon Enterprise, Inc $AXON

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Axon Enterprise by 12.9%, owning 14,400 shares worth approximately $7.57 million.
• Other hedge funds, such as Hsbc Holdings PLC, significantly increased their stakes, with Hsbc raising its holdings by 46.9% and acquiring over 83,000 more shares.
• Insider transactions revealed that CRO Cameron Brooks and President Joshua Isner both sold a substantial number of shares, decreasing their ownership by 13.36% and 6.26%, respectively.

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,400 shares of the biotechnology company's stock after selling 2,126 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Axon Enterprise were worth $7,574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock valued at $4,540,005,000 after purchasing an additional 185,571 shares during the period. Westfield Capital Management Co. LP raised its position in shares of Axon Enterprise by 29.8% in the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock valued at $487,977,000 after purchasing an additional 212,931 shares during the period. GAMMA Investing LLC raised its position in shares of Axon Enterprise by 58,725.5% in the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock valued at $402,210,000 after purchasing an additional 763,431 shares during the period. Northern Trust Corp boosted its stake in Axon Enterprise by 1.2% in the 1st quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company's stock worth $381,692,000 after purchasing an additional 8,794 shares during the period. Finally, Jennison Associates LLC boosted its stake in Axon Enterprise by 23,203.7% in the 1st quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after purchasing an additional 611,418 shares during the period. Institutional investors own 79.08% of the company's stock.

Insider Buying and Selling

In related news, Director Michael Garnreiter sold 5,913 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the completion of the sale, the director directly owned 17,740 shares in the company, valued at $13,482,400. This represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the sale, the chief executive officer owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,790 shares of company stock valued at $33,654,451 over the last quarter. Company insiders own 4.40% of the company's stock.

Axon Enterprise Price Performance

Shares of NASDAQ AXON traded up $6.77 during trading hours on Monday, reaching $773.01. 102,419 shares of the stock traded hands, compared to its average volume of 702,414. The company has a market capitalization of $60.68 billion, a P/E ratio of 190.87, a price-to-earnings-growth ratio of 28.12 and a beta of 1.36. 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 $346.71 and a 52-week high of $885.91. The company's 50-day simple moving average is $773.05 and its two-hundred day simple moving average is $673.98.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. The company had revenue of $668.54 million for the quarter, compared to analysts' expectations of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.Axon Enterprise's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. Equities research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. JMP Securities raised their target price on Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 22nd. UBS Group restated a "neutral" rating and issued a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Northland Securities set a $800.00 target price on Axon Enterprise in a research note on Tuesday, August 5th. The Goldman Sachs Group raised their price target on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Barclays raised their price target on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $837.69.

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.