BI Asset Management Fondsmaeglerselskab A S Sells 5,786 Shares of Axon Enterprise, Inc $AXON

Key Points

• BI Asset Management Fondsmaeglerselskab A/S cut its Axon Enterprise stake by 52% in the fourth quarter, selling 5,786 shares and leaving it with 5,345 shares worth about $3.0 million.
• Other major investors remained heavily invested in Axon, with firms like Vanguard, Geode Capital, and Baillie Gifford increasing positions; institutional ownership stands at 79.08%.
• Wall Street remains bullish on Axon, with analysts rating it a Moderate Buy and an average price target of $712.75, while the stock also rose after reporting better-than-expected quarterly earnings and revenue growth of 33.7% year over year.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 52.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,345 shares of the biotechnology company's stock after selling 5,786 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Axon Enterprise were worth $3,036,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Axon Enterprise by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock worth $5,319,928,000 after purchasing an additional 53,060 shares during the period. Geode Capital Management LLC lifted its stake in shares of Axon Enterprise by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company's stock valued at $1,265,657,000 after buying an additional 35,544 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Axon Enterprise by 1,198.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock valued at $932,869,000 after buying an additional 1,516,099 shares in the last quarter. Norges Bank purchased a new stake in Axon Enterprise in the 4th quarter worth $515,764,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Axon Enterprise by 23.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company's stock worth $476,089,000 after purchasing an additional 156,647 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AXON. Citigroup restated a "buy" rating on shares of Axon Enterprise in a report on Wednesday, February 25th. Craig Hallum reissued a "buy" rating and issued a $820.00 price objective on shares of Axon Enterprise in a research note on Wednesday, February 25th. The Goldman Sachs Group set a $535.00 price objective on shares of Axon Enterprise in a research note on Thursday, May 7th. Barclays decreased their price objective 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and an average target price of $712.75.

Insider Buying and Selling

In other Axon Enterprise news, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chief executive officer owned 3,060,997 shares of the company's stock, valued at approximately $1,530,498,500. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,344 shares of company stock valued at $19,267,315 in the last ninety days. Company insiders own 4.20% of the company's stock.

Axon Enterprise Trading Down 3.1%

NASDAQ:AXON opened at $471.06 on Tuesday. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91. The firm has a 50 day moving average of $408.45 and a 200 day moving average of $491.12. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $37.97 billion, a price-to-earnings ratio of 189.18, a PEG ratio of 8.84 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The business 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%. The business's quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the company posted $1.47 earnings per share. As a group, sell-side analysts anticipate that Axon Enterprise, Inc will post 1.82 earnings per share for the current fiscal year.

Axon Enterprise 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.

Want to see what other hedge funds are holding AXON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axon Enterprise, Inc (NASDAQ:AXON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.