Axon Enterprise, Inc $AXON Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its stake in Axon Enterprise by 21.3%, owning 9,600 shares valued at over $5 million as of the end of the last quarter.
• Several institutional investors have increased their holdings in Axon Enterprise, with 79.08% of the stock now owned by hedge funds and other institutions.
• Analysts have set optimistic target prices for Axon Enterprise, with an average price target of $837.69 and a general rating of “Moderate Buy.”

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 21.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,600 shares of the biotechnology company's stock after selling 2,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Axon Enterprise were worth $5,049,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AXON. Brighton Jones LLC bought a new stake in shares of Axon Enterprise during the fourth quarter valued at approximately $480,000. Townsquare Capital LLC grew its holdings in shares of Axon Enterprise by 40.0% in the fourth quarter. Townsquare Capital LLC now owns 913 shares of the biotechnology company's stock valued at $542,000 after purchasing an additional 261 shares in the last quarter. United Capital Financial Advisors LLC grew its holdings in shares of Axon Enterprise by 22.7% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,185 shares of the biotechnology company's stock valued at $704,000 after purchasing an additional 219 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Axon Enterprise by 13.4% in the fourth quarter. NewEdge Advisors LLC now owns 1,626 shares of the biotechnology company's stock valued at $966,000 after purchasing an additional 192 shares in the last quarter. Finally, First Commonwealth Financial Corp PA purchased a new position in shares of Axon Enterprise in the fourth quarter valued at $273,000. Institutional investors own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AXON. The Goldman Sachs Group lifted their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Northland Securities set a $800.00 price objective on shares of Axon Enterprise in a research note on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $840.00 price objective (up from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Bank of America lifted their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, JMP Securities lifted their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 22nd. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $837.69.

Insiders Place Their Bets

In other Axon Enterprise news, Director Michael Garnreiter sold 5,913 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total value of $4,493,880.00. Following the completion of the transaction, the director directly owned 17,740 shares in the company, valued at approximately $13,482,400. The trade was a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the completion of the transaction, the chief executive officer owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,790 shares of company stock valued at $33,654,451 in the last three months. 5.70% of the stock is currently owned by insiders.

Axon Enterprise Stock Down 0.4%

Shares of AXON stock traded down $3.14 on Wednesday, hitting $755.15. The stock had a trading volume of 246,743 shares, compared to its average volume of 709,232. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $773.92 and a 200 day moving average price of $671.99. The company has a market cap of $59.28 billion, a PE ratio of 186.46, a P/E/G ratio of 29.05 and a beta of 1.36. Axon Enterprise, Inc has a one year low of $346.71 and a one year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.58. The firm had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The firm's quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. Research analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.