Forsta AP Fonden Has $16.62 Million Holdings in Axon Enterprise, Inc $AXON

Key Points

• Forsta AP Fonden increased its Axon Enterprise stake by 81.7% in the fourth quarter, ending with 29,260 shares worth about $16.62 million.
• Axon reported strong quarterly results, with EPS of $1.61 topping estimates and revenue of $807.35 million beating expectations; revenue was also up 33.7% year over year.
• Wall Street remains generally bullish on the stock, with an average rating of “Moderate Buy” and a consensus price target of $712.75, even as some analysts lowered their targets.

Forsta AP Fonden boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 81.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,260 shares of the biotechnology company's stock after buying an additional 13,160 shares during the period. Forsta AP Fonden's holdings in Axon Enterprise were worth $16,618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV acquired a new stake in Axon Enterprise during the 4th quarter worth about $28,000. New Millennium Group LLC acquired a new stake in Axon Enterprise during the 3rd quarter worth about $29,000. Sound Income Strategies LLC grew its stake in 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 purchased a new position in Axon Enterprise during the 4th quarter valued at about $30,000. Finally, Lodestone Wealth Management LLC purchased a new position in Axon Enterprise during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AXON shares. Craig Hallum reaffirmed a "buy" rating and set a $820.00 target price on shares of Axon Enterprise in a research note on Wednesday, February 25th. Barclays lowered their target price 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. Royal Bank Of Canada lowered their target price on Axon Enterprise from $860.00 to $735.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. William Blair reaffirmed an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. Finally, TD Cowen lowered their price target on Axon Enterprise from $950.00 to $825.00 and set a "buy" rating for the company in a research note on Wednesday, April 8th. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $712.75.

Axon Enterprise Trading Up 2.1%

Shares of NASDAQ AXON opened at $448.72 on Friday. The stock has a market cap of $36.17 billion, a price-to-earnings ratio of 180.21, a PEG ratio of 8.16 and a beta of 1.44. The business has a 50 day simple moving average of $407.53 and a 200 day simple moving average of $494.65. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million during 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%.The firm's quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.47 EPS. On average, research analysts predict that Axon Enterprise, Inc will post 1.82 earnings per share for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, CAO Jennifer H. Mak sold 1,500 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the sale, the chief accounting officer owned 12,240 shares of the company's stock, valued at approximately $7,019,028. The trade was a 10.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Erika Nardini sold 198 shares of the company'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 value of $100,302.84. Following the sale, the director directly owned 1,946 shares of the company's stock, valued at $985,804.68. The trade was a 9.24% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,855 shares of company stock worth $1,837,408. 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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