DNB Asset Management AS Has $13.13 Million Stake in Axon Enterprise, Inc $AXON

Key Points

• DNB Asset Management AS reduced its Axon Enterprise stake by 15.2% in the fourth quarter, but still held 23,119 shares worth about $13.13 million as of its latest filing.
• Axon recently reported strong quarterly results, with revenue rising 33.7% year over year to $807.35 million and EPS of $1.61, slightly topping analyst expectations.
• Wall Street remains broadly positive on the stock, with 16 Buy ratings and an average target price of $712.75, even as some analysts trimmed price targets and valuation concerns linger.

DNB Asset Management AS trimmed its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 15.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,119 shares of the biotechnology company's stock after selling 4,148 shares during the period. DNB Asset Management AS's holdings in Axon Enterprise were worth $13,130,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New Millennium Group LLC acquired a new stake in shares of Axon Enterprise during the 3rd quarter valued at about $29,000. Sound Income Strategies LLC boosted its position in shares of Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 44 shares in the last quarter. Camelot Portfolios LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter valued at about $30,000. Root Financial Partners LLC acquired a new stake in shares of Axon Enterprise during the 3rd quarter valued at about $34,000. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter valued at about $35,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, Director Erika Nardini sold 198 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total value of $100,302.84. Following the transaction, the director directly owned 1,946 shares in the company, valued at $985,804.68. The trade was a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the completion of the transaction, the chief executive officer owned 3,090,997 shares in the company, valued at approximately $1,546,240,339.28. This trade represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 13,855 shares of company stock valued at $7,109,828. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler decreased their target price on shares of Axon Enterprise from $690.00 to $674.00 and set an "overweight" rating on the stock in a research report on Thursday, May 7th. Citigroup reiterated a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. Citizens Jmp decreased their target price on shares of Axon Enterprise from $825.00 to $700.00 and set a "market outperform" rating on the stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Finally, William Blair reiterated an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $712.75.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $391.88 on Monday. The firm has a market cap of $31.59 billion, a PE ratio of 157.38, a price-to-earnings-growth ratio of 9.22 and a beta of 1.44. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. 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 company's 50-day moving average price is $432.22 and its two-hundred day moving average price is $513.83.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.47 earnings per share. On average, equities analysts anticipate that Axon Enterprise, Inc will post 1.41 EPS for the current fiscal year.

Key Headlines Impacting Axon Enterprise

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

• Positive Sentiment: Axon’s Q1 results showed strong growth, with revenue up 34% year over year to $807 million and adjusted EBITDA of $202 million, suggesting the business is still expanding at a healthy pace. Axon shares rise as investors continue to digest strong Q1 results and recent large-agency contract momentum
• Positive Sentiment: Software and AI adoption appears to be gaining traction, with AI Era Plan-related product revenue rising more than 700% year over year, which supports the company’s higher-margin growth story. Axon shares rise as investors continue to digest strong Q1 results and recent large-agency contract momentum
• Positive Sentiment: New contract momentum is also encouraging, including a 10-year, $153 million city contract for upgraded body-worn cameras and TASER devices, reinforcing visibility into future revenue. Axon shares rise as investors continue to digest strong Q1 results and recent large-agency contract momentum
• Positive Sentiment: Brokerage sentiment remains constructive, with Axon receiving an average “Moderate Buy” rating and several firms reiterating overweight/outperform calls, which may be supporting the shares. Axon Enterprise, Inc NASDAQ: AXON Receives Average Rating of "Moderate Buy" from Brokerages
• Neutral Sentiment: Axon is drawing attention as a trending stock, but that interest is more a sign of heightened investor focus than a clear fundamental catalyst. Axon Enterprise's NASDAQ: AXON Problems Go Beyond Poor Profit
• Negative Sentiment: Some recent commentary has highlighted valuation and profitability concerns, reminding investors that the stock may face pressure if expectations cool after the post-earnings bounce. Axon Enterprise's NASDAQ: AXON Problems Go Beyond Poor Profit

Axon Enterprise Company 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.