Bessemer Group Inc. Boosts Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Bessemer Group Inc. increased its stake in Axon Enterprise by 13.6% in the fourth quarter, buying 26,977 additional shares and bringing its total holdings to 225,097 shares worth about $127.8 million.
• Axon reported strong Q1 results, with revenue rising 33.7% year over year to $807.35 million and EPS of $1.61, slightly ahead of analyst expectations.
• Despite the positive results, the stock remains well below its 52-week high of $885.91, and analysts are mixed but still generally constructive, with an average Moderate Buy rating and a consensus price target of $712.75.

Bessemer Group Inc. raised its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 13.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 225,097 shares of the biotechnology company's stock after purchasing an additional 26,977 shares during the period. Bessemer Group Inc. owned 0.29% of Axon Enterprise worth $127,840,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AXON. New Millennium Group LLC purchased a new position in shares of Axon Enterprise in the 3rd quarter worth approximately $29,000. Sound Income Strategies LLC grew its position in shares of Axon Enterprise by 550.0% in the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock worth $30,000 after buying an additional 44 shares during the last quarter. Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth approximately $30,000. Root Financial Partners LLC purchased a new position in shares of Axon Enterprise in the 3rd quarter worth approximately $34,000. Finally, Lodestone Wealth Management LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Up 1.0%

AXON stock opened at $391.88 on Friday. The firm has a 50 day moving average of $432.22 and a 200 day moving average of $515.47. The stock has a market capitalization of $31.59 billion, a PE ratio of 157.38, a price-to-earnings-growth ratio of 9.13 and a beta of 1.44. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million during the quarter, compared to analysts' expectations 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 business earned $1.47 EPS. 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 other Axon Enterprise news, Director Jeri Williams sold 157 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $490.00, for a total transaction of $76,930.00. Following the completion of the sale, the director directly owned 1,159 shares in the company, valued at approximately $567,910. The trade was a 11.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Erika Nardini sold 198 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total transaction of $100,302.84. Following the sale, the director owned 1,946 shares of the company's stock, valued at approximately $985,804.68. The trade was a 9.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,855 shares of company stock worth $7,109,828. Corporate insiders own 4.40% of the company's stock.

More Axon Enterprise News

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Axon’s Q1 results showed strong growth, with revenue up 34% year over year to $807 million and adjusted EBITDA of $202 million, suggesting the business is still expanding at a healthy pace. Axon shares rise as investors continue to digest strong Q1 results and recent large-agency contract momentum
• Positive Sentiment: Software and AI adoption appears to be gaining traction, with AI Era Plan-related product revenue rising more than 700% year over year, which supports the company’s higher-margin growth story. Axon shares rise as investors continue to digest strong Q1 results and recent large-agency contract momentum
• Positive Sentiment: New contract momentum is also encouraging, including a 10-year, $153 million city contract for upgraded body-worn cameras and TASER devices, reinforcing visibility into future revenue. Axon shares rise as investors continue to digest strong Q1 results and recent large-agency contract momentum
• Positive Sentiment: Brokerage sentiment remains constructive, with Axon receiving an average “Moderate Buy” rating and several firms reiterating overweight/outperform calls, which may be supporting the shares. Axon Enterprise, Inc NASDAQ: AXON Receives Average Rating of "Moderate Buy" from Brokerages
• Neutral Sentiment: Axon is drawing attention as a trending stock, but that interest is more a sign of heightened investor focus than a clear fundamental catalyst. Axon Enterprise's NASDAQ: AXON Problems Go Beyond Poor Profit
• Negative Sentiment: Some recent commentary has highlighted valuation and profitability concerns, reminding investors that the stock may face pressure if expectations cool after the post-earnings bounce. Axon Enterprise's NASDAQ: AXON Problems Go Beyond Poor Profit

Analysts Set New Price Targets

AXON has been the topic of a number of analyst reports. 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 research report on Friday, May 8th. Citigroup reaffirmed a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Axon Enterprise from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Morgan Stanley set a $600.00 price objective on shares of Axon Enterprise in a research report on Thursday, May 7th. Finally, Needham & Company LLC cut their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a "buy" rating on the stock in a research report on Friday, February 20th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $712.75.

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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