Cookson Peirce & Co. Inc. Trims Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Cookson Peirce & Co. Inc. sharply cut its Axon Enterprise stake by 83.3% in the fourth quarter, selling 30,267 shares and leaving it with 6,070 shares valued at about $3.45 million.
• Axon shares were noted as down 5.3% in Friday trading, though the stock still carries a large market cap of about $39.2 billion and trades at a high valuation.
• The company’s latest earnings beat expectations, with EPS of $1.61 and revenue of $807.35 million, while analysts remain broadly bullish with an average “Moderate Buy” rating and a target price of $712.75.

Cookson Peirce & Co. Inc. trimmed its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 83.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,070 shares of the biotechnology company's stock after selling 30,267 shares during the quarter. Cookson Peirce & Co. Inc.'s holdings in Axon Enterprise were worth $3,447,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Evergreen Capital Management LLC raised its holdings in shares of Axon Enterprise by 3.8% in the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company's stock worth $342,000 after buying an additional 15 shares during the period. Wealth Alliance LLC raised its holdings in shares of Axon Enterprise by 3.2% in the third quarter. Wealth Alliance LLC now owns 583 shares of the biotechnology company's stock worth $419,000 after buying an additional 18 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Axon Enterprise by 0.5% in the third quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company's stock worth $2,848,000 after buying an additional 19 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of Axon Enterprise by 5.2% in the fourth quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company's stock worth $220,000 after buying an additional 19 shares during the period. Finally, Synergy Financial Group LTD raised its holdings in shares of Axon Enterprise by 1.4% in the third quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company's stock worth $996,000 after buying an additional 19 shares during the period. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Down 5.3%

Shares of NASDAQ:AXON opened at $486.12 on Friday. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91. The stock has a market cap of $39.18 billion, a P/E ratio of 195.23, a price-to-earnings-growth ratio of 8.84 and a beta of 1.45. The business's 50 day moving average is $408.04 and its 200 day moving average is $491.92. 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 (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analysts' expectations of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.Axon Enterprise's revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.47 earnings per share. Sell-side analysts predict that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AXON shares. 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. TD Cowen dropped their price objective on Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. Barclays dropped their price objective on Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Morgan Stanley set a $600.00 price objective on Axon Enterprise in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group set a $535.00 price objective on Axon Enterprise in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $712.75.

Key Axon Enterprise News

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

• Positive Sentiment: Axon’s real-time translation technology was rolled out at the Calgary Police Service, a reminder that the company continues to win new public-safety deployments and expand its international footprint. Axon real-time translation rolls out at Calgary Police Service in Canadian debut
• Positive Sentiment: Recent earnings momentum remains a support for the stock, with Axon trading well above its post-earnings level and analysts still watching for continued growth after another strong quarterly report. Axon (AXON) Up 20.2% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Analyst commentary on Axon was included in a broader industrial-goods roundup, but the headline did not indicate a major new catalyst for the stock. Analysts Offer Insights on Industrial Goods Companies: United Rentals (URI), ArcBest (ARCB) and Axon Enterprise (AXON)
• Neutral Sentiment: Insider-trading coverage highlighted recent Axon insider activity, which can attract attention but does not by itself confirm a change in fundamentals. Diamondback, Seagate, ZIM, Credo, Axon Insider Shakeup
• Negative Sentiment: Jim Cramer said Axon trades at a very high earnings multiple, reinforcing investor concerns that the stock’s valuation may be stretched. Jim Cramer on Axon: “It Sells at a Very High Price to Earnings Multiple”
• Negative Sentiment: Motorola’s $1.5 billion D-Fend acquisition revived competition concerns in public safety technology, potentially increasing pressure on Axon’s market share and long-term growth narrative. Motorola's $1.5 Billion D-Fend Acquisition Reignites Its Direct Competition with Axon Enterprises

Insider Buying and Selling

In other Axon Enterprise news, Director Jeri Williams sold 629 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $469.64, for a total transaction of $295,403.56. Following the sale, the director owned 1,141 shares of the company's stock, valued at approximately $535,859.24. This trade represents a 35.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 2,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the sale, the insider directly owned 52,813 shares in the company, valued at $21,125,200. This trade represents a 3.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,548 shares of company stock worth $1,542,775 over the last quarter. Insiders own 4.20% of the company's stock.

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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