Calamos Wealth Management LLC Trims Holdings in Axon Enterprise, Inc $AXON

Key Points

• Calamos Wealth Management LLC trimmed its stake in Axon by 99.1% in Q4, selling 130,108 shares and leaving 1,222 shares valued at $694,000.
• Axon beat estimates in the quarter with $2.15 EPS vs. $1.60 expected and revenue of $796.72 million (up 38.5% YoY), while trading at a high valuation (market cap ~ $32 billion, P/E ~261).
• Analyst sentiment is mostly positive—16 Buys, 2 Holds and 1 Sell—with an average price target of about $749.63.

Calamos Wealth Management LLC trimmed its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 99.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,222 shares of the biotechnology company's stock after selling 130,108 shares during the quarter. Calamos Wealth Management LLC's holdings in Axon Enterprise were worth $694,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. NEOS Investment Management LLC lifted its holdings in Axon Enterprise by 82.7% during the 3rd quarter. NEOS Investment Management LLC now owns 25,369 shares of the biotechnology company's stock worth $18,206,000 after buying an additional 11,482 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Axon Enterprise by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company's stock valued at $6,684,217,000 after acquiring an additional 376,904 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Axon Enterprise by 3.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,423 shares of the biotechnology company's stock valued at $132,349,000 after acquiring an additional 5,953 shares during the last quarter. Legal & General Group Plc raised its position in shares of Axon Enterprise by 3.1% during the 3rd quarter. Legal & General Group Plc now owns 421,114 shares of the biotechnology company's stock worth $302,208,000 after acquiring an additional 12,736 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Axon Enterprise by 93.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company's stock worth $13,270,000 after acquiring an additional 11,262 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Trading Up 1.1%

Shares of Axon Enterprise stock opened at $397.12 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53. The company has a market capitalization of $32.00 billion, a P/E ratio of 261.26, a PEG ratio of 8.38 and a beta of 1.61. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The company's fifty day moving average is $456.49 and its two-hundred day moving average is $543.01.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The business had revenue of $796.72 million during the quarter, compared to analysts' expectations of $755.29 million. During the same period in the prior year, the company earned $2.08 earnings per share. The business's revenue was up 38.5% compared to the same quarter last year. Analysts forecast that Axon Enterprise, Inc will post 1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AXON. Weiss Ratings downgraded Axon Enterprise from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 10th. William Blair reissued an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, February 3rd. JPMorgan Chase & Co. lowered their target price on shares of Axon Enterprise from $925.00 to $750.00 and set an "overweight" rating for the company in a report on Thursday, April 16th. Morgan Stanley reaffirmed an "overweight" rating on shares of Axon Enterprise in a research report on Wednesday, April 8th. Finally, Wall Street Zen upgraded shares of Axon Enterprise from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Sixteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Axon Enterprise has an average rating of "Moderate Buy" and an average price target of $749.63.

Insider Activity

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the completion of the sale, the insider directly owned 55,588 shares of the company's stock, valued at approximately $29,740,135.88. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer H. Mak sold 1,500 shares of Axon Enterprise stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the transaction, the chief accounting officer owned 12,240 shares in the company, valued at $7,019,028. This trade represents a 10.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,855 shares of company stock worth $7,109,828 over the last quarter. 4.40% of the stock is owned by insiders.

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.

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