CIBC Asset Management Inc Raises Holdings in Axon Enterprise, Inc $AXON

Key Points

• CIBC Asset Management increased its stake in Axon Enterprise by 32.9% in the fourth quarter, adding 10,870 shares and bringing its total holding to 43,953 shares worth about $25 million.
• Axon reported a strong quarterly update, with revenue of $807.35 million and EPS of $1.61, both topping analyst expectations. Revenue rose 33.7% year over year, underscoring continued growth in the business.
• Despite positive operating results, the stock has seen some caution from analysts and insiders: several analysts cut price targets, and directors recently sold shares, even though institutional ownership remains high at 79.08%.

CIBC Asset Management Inc boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,953 shares of the biotechnology company's stock after purchasing an additional 10,870 shares during the quarter. CIBC Asset Management Inc owned approximately 0.06% of Axon Enterprise worth $24,962,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AXON. Brighton Jones LLC purchased a new stake in Axon Enterprise during the 4th quarter worth about $480,000. NewEdge Advisors LLC increased its holdings in Axon Enterprise by 41.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock worth $1,207,000 after purchasing an additional 668 shares during the period. Empowered Funds LLC increased its holdings in Axon Enterprise by 8.4% during the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock worth $1,067,000 after purchasing an additional 157 shares during the period. Woodline Partners LP increased its holdings in Axon Enterprise by 40.6% during the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock worth $3,646,000 after purchasing an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in Axon Enterprise during the 2nd quarter worth about $284,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Trending Headlines about Axon Enterprise

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

• Positive Sentiment: Axon’s new Echodyne partnership could deepen its drone and counter-drone capabilities, supporting its push into a high-growth public safety market. Is Axon (AXON) Quietly Building a Defensive Moat With Its New Drone Radar Partnership?
• Positive Sentiment: Axon’s Software & Services segment is showing strong momentum, with recurring revenue and software adoption continuing to expand. Axon's Software & Services Segment Gains Momentum: Can It Sustain?
• Positive Sentiment: Market commentary continues to frame Axon as part of the “new age defense” and cybersecurity-related trade, which may be helping investor sentiment toward the stock. Palantir, Axon, Crowdstrike, and Cloudflare: New age defense stocks
• Neutral Sentiment: A director sold a relatively small block of shares under a pre-arranged trading plan, which is worth noting but does not necessarily signal a change in fundamentals. Caitlin Elizabeth Kalinowski Sells 564 Shares of Axon Enterprise NASDAQ: AXON Stock
• Negative Sentiment: Insider selling by two directors may create some short-term caution, even though the sales were disclosed and appear limited in size relative to Axon’s market value. Caitlin Elizabeth Kalinowski Sells 564 Shares of Axon Enterprise NASDAQ: AXON Stock

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Cowen cut their price target on Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a report on Wednesday, April 8th. Citizens Jmp cut their price target 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. Robert W. Baird set a $800.00 price objective on Axon Enterprise in a report on Wednesday, February 25th. Barclays dropped their price objective on Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Finally, The Goldman Sachs Group set a $535.00 price objective on Axon Enterprise 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $712.75.

Axon Enterprise Trading Down 1.8%

AXON opened at $481.48 on Thursday. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The company has a market cap of $38.81 billion, a P/E ratio of 193.37, a PEG ratio of 8.91 and a beta of 1.45. 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 business's 50-day simple moving average is $406.39 and its 200-day simple moving average is $492.25.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $778.91 million. During the same quarter in the prior year, the business posted $1.47 EPS. The business's revenue for the quarter was up 33.7% on a year-over-year basis. As a group, equities research analysts expect that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, Director Erika Nardini sold 198 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total transaction of $100,302.84. Following the transaction, the director owned 1,946 shares in the company, valued at $985,804.68. This trade represents a 9.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $478.97, for a total value of $270,139.08. Following the transaction, the director owned 3,632 shares in the company, valued at $1,739,619.04. This represents a 13.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,548 shares of company stock worth $1,542,775. 4.20% of the stock is owned by corporate insiders.

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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