BI Asset Management Fondsmaeglerselskab A S Sells 2,222 Shares of Axon Enterprise, Inc $AXON

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its Axon Enterprise stake by 41.6% in the first quarter, selling 2,222 shares and leaving it with 3,123 shares worth about $1.33 million.
• Axon’s recent operating updates remain broadly positive, with its Q1 earnings beating estimates and revenue rising 33.7% year over year to $807.35 million. The company also raised its full-year revenue outlook, reinforcing a growth-focused outlook.
• Despite the upbeat fundamentals, insider selling and mixed analyst sentiment have kept investors cautious, including recent sales by executives and a Barclays price-target cut to $523. Wall Street’s consensus remains a “Moderate Buy,” with a median target of $712.75.

BI Asset Management Fondsmaeglerselskab A S lessened its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 41.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,123 shares of the biotechnology company's stock after selling 2,222 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Axon Enterprise were worth $1,326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV purchased a new stake in shares of Axon Enterprise during the fourth quarter valued at $28,000. Sound Income Strategies LLC raised its position in 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 bought a new position in Axon Enterprise during the 4th quarter valued at about $30,000. AlphaCentric Advisors LLC bought a new position in Axon Enterprise during the 4th quarter valued at about $34,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Axon Enterprise during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Key Stories Impacting Axon Enterprise

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

• Positive Sentiment: Axon’s president said the company’s counter-drone platform, Dedrone, has already generated more bookings than its acquisition price, reinforcing the view that the deal is paying off and that Axon’s expansion into drone defense is gaining traction. Axon (AXON) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also reacting to Axon’s growing AI story, with commentary highlighting that the company can offer AI upside without the heavy infrastructure spending required by many large AI names. Axon Offers AI Upside Without the Infrastructure Gamble
• Positive Sentiment: Recent articles continue to emphasize Axon’s strong Q1 results, raised full-year revenue outlook, and expanding AI-powered public safety platform, which supports the bullish case for future growth and recurring software revenue. Does Axon’s Upgraded Outlook and AI Push Reshape The Bull Case For Axon Enterprise (AXON)?
• Neutral Sentiment: Axon was also featured in industry outlook pieces alongside other aerospace-defense names, keeping the stock in view but without a new direct catalyst. Zacks Industry Outlook HEICO, Axon and AAR
• Negative Sentiment: A separate article raised questions about Axon’s Scottsdale development plans and political ties, which could create some reputational or governance overhang for investors. Axon (AXON) Faces Questions Over Scottsdale Election Ties And Development Project

Axon Enterprise Price Performance

NASDAQ AXON opened at $456.73 on Thursday. The business's fifty day moving average is $418.11 and its 200 day moving average is $482.95. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The company has a market capitalization of $36.81 billion, a PE ratio of 183.43, a price-to-earnings-growth ratio of 7.87 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly 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. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business had revenue of $807.35 million during the quarter, compared to analysts' expectations of $778.90 million. During the same quarter in the prior year, the business posted $1.47 earnings per share. The business's quarterly revenue was up 33.7% on a year-over-year basis. Sell-side analysts predict that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

Insider Transactions at Axon Enterprise

In other news, CRO Cameron Brooks sold 1,242 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the sale, the executive directly owned 49,710 shares in the company, valued at $24,855,000. This trade represents a 2.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. This trade represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 38,989 shares of company stock valued at $19,090,083. Company insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AXON shares. Barclays reduced their price target on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Zacks Research raised Axon Enterprise from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Craig Hallum restated a "buy" rating and issued a $820.00 price target on shares of Axon Enterprise in a research note on Wednesday, February 25th. The Goldman Sachs Group set a $535.00 price objective on Axon Enterprise in a report on Thursday, May 7th. Finally, Citizens Jmp lowered their target price on Axon Enterprise from $825.00 to $700.00 and set a "market outperform" rating on the stock in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $712.75.

About Axon Enterprise

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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