Eurizon Capital SGR S.p.A. Buys 1,567,432 Shares of Axon Enterprise, Inc $AXON

Key Points

• Eurizon Capital SGR increased its Axon stake by 6,058.4%, buying 1,567,432 shares in the third quarter to hold 1,593,304 shares, valued at about $673.2 million.
• Axon’s latest quarter missed analyst expectations: EPS was $1.72 versus $1.89 expected, and revenue was $908.6 million versus $934.3 million expected, though revenue grew 27.8% year over year.
• Shares opened at $307.11 and were down 2.6%; insiders sold 37,397 shares worth about $21.2 million over the prior 90 days, while institutional investors and hedge funds own 79.08% of the stock.

Eurizon Capital SGR S.p.A. grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 6,058.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,593,304 shares of the biotechnology company's stock after buying an additional 1,567,432 shares during the quarter. Axon Enterprise makes up 1.8% of Eurizon Capital SGR S.p.A.'s holdings, making the stock its 10th biggest holding. Eurizon Capital SGR S.p.A. owned approximately 1.96% of Axon Enterprise worth $673,203,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Keating Financial Advisory Services Inc. bought a new stake in Axon Enterprise during the 2nd quarter worth $31,000. Washington Trust Advisors Inc. increased its holdings in Axon Enterprise by 1,300.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock worth $39,000 after purchasing an additional 65 shares in the last quarter. M & L Capital Management Ltd bought a new position in Axon Enterprise in the third quarter valued at about $30,000. Wealth Enhancement Trust Services Inc. acquired a new stake in shares of Axon Enterprise during the third quarter valued at about $33,000. Finally, Delos Wealth Advisors LLC acquired a new stake in shares of Axon Enterprise during the second quarter valued at about $45,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the sale, the chief executive officer owned 3,118,012 shares of the company's stock, valued at approximately $1,587,036,927.88. This represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the transaction, the insider owned 97,761 shares of the company's stock, valued at approximately $61,266,818.70. The trade was a 8.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 37,397 shares of company stock valued at $21,234,034 in the last ninety days. Insiders own 4.20% of the company's stock.

Axon Enterprise Stock Down 2.6%

Shares of NASDAQ:AXON opened at $307.11 on Friday. The firm has a market cap of $25.01 billion, a P/E ratio of 98.43, a P/E/G ratio of 5.99 and a beta of 1.48. Axon Enterprise, Inc has a 12-month low of $291.45 and a 12-month high of $665.07. The business has a fifty day simple moving average of $422.24 and a 200 day simple moving average of $469.16. The company has a quick ratio of 2.60, a current ratio of 3.00 and a debt-to-equity ratio of 0.76.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $1.72 EPS for the quarter, missing analysts' consensus estimates of $1.89 by ($0.17). The company had revenue of $908.55 million during the quarter, compared to the consensus estimate of $934.33 million. Axon Enterprise had a net margin of 7.56% and a return on equity of 3.87%. The company's quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. Analysts predict that Axon Enterprise, Inc will post 2.10 earnings per share for the current year.

Key Stories Impacting Axon Enterprise

Here are a few of the latest stories about AXON:

• Positive Sentiment: Maryland’s Howard County Police Department adopted Axon’s drone-as-first-responder solutions, including Skydio X10 drones, counter-drone technology and AI tools. The deployment supports Axon’s public-safety technology demand, though no contract value was disclosed. Article: Axon Air Drone as First Responder Program Soars into Howard County, Maryland
• Negative Sentiment: Axon’s third-quarter adjusted EPS was reported below consensus, and revenue of $908.55 million also trailed estimates of $934.33 million. Revenue nevertheless grew 27.8% year over year. The earnings shortfall is a key reason for the shares’ recent weakness; Barclays has also lowered its expectations for the stock. Article: Levi & Korsinsky Investigation Notice Article: Barclays Lowers Expectations for Axon
• Negative Sentiment: A recent Seeking Alpha analysis argues hardware-related risks persist, reinforcing concerns about Axon’s growth outlook. With the stock trading at a high valuation, investor tolerance for execution or growth disappointments may be limited. Article: Axon Enterprise: Hardware Risks Persist

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AXON shares. Piper Sandler restated an "overweight" rating and set a $540.00 price target (down from $561.00) on shares of Axon Enterprise in a report on Friday, November 6th. Northland Securities set a $540.00 price objective on shares of Axon Enterprise in a report on Friday, November 6th. Citigroup reiterated a "market outperform" rating on shares of Axon Enterprise in a research report on Monday, November 2nd. TD Cowen cut their target price on shares of Axon Enterprise from $825.00 to $800.00 and set a "buy" rating on the stock in a research report on Monday, October 26th. Finally, Argus boosted their target price on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $612.18.

About Axon Enterprise

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals. The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.

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