Axon Enterprise, Inc (NASDAQ:AXON) is Freemont Management S.A.'s 7th Largest Position

Key Points

• Freemont Management S.A. significantly increased its stake in Axon Enterprise by 587% during the first quarter, holding $8.31 million in shares after acquiring 13,500 additional shares.
• Axon reported a 31.3% increase in quarterly revenue year-over-year, totaling $603.63 million, and earnings per share beating analyst expectations at $1.41.
• A majority of the stock, 79.08%, is owned by institutional investors, indicating strong confidence in Axon Enterprise among large financial entities.

Freemont Management S.A. grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 587.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,800 shares of the biotechnology company's stock after buying an additional 13,500 shares during the quarter. Axon Enterprise accounts for 2.7% of Freemont Management S.A.'s investment portfolio, making the stock its 7th biggest position. Freemont Management S.A.'s holdings in Axon Enterprise were worth $8,310,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in AXON. Fourth Dimension Wealth LLC bought a new stake in Axon Enterprise in the 4th quarter worth $30,000. Bartlett & CO. Wealth Management LLC lifted its position in Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 33 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Axon Enterprise during the 1st quarter valued at about $32,000. Alpine Bank Wealth Management purchased a new position in Axon Enterprise during the 1st quarter valued at about $40,000. Finally, Elequin Capital LP purchased a new position in Axon Enterprise in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Up 3.6%

Shares of Axon Enterprise stock traded up $25.75 on Friday, reaching $735.01. The stock had a trading volume of 654,601 shares, compared to its average volume of 627,317. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $57.22 billion, a P/E ratio of 177.54, a P/E/G ratio of 81.93 and a beta of 1.29. The company has a 50 day moving average price of $763.82 and a 200 day moving average price of $650.93. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $830.21.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. The company had revenue of $603.63 million during the quarter, compared to the consensus estimate of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. Axon Enterprise's revenue was up 31.3% compared to the same quarter last year. During the same period last year, the firm earned $1.15 earnings per share. As a group, equities research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Wall Street Analysts Forecast Growth

AXON has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. JMP Securities boosted their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a report on Tuesday. Wolfe Research initiated coverage on shares of Axon Enterprise in a research note on Monday, July 7th. They set an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $772.08.

Insider Buying and Selling

In related news, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction that occurred on 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 sale, the director directly owned 17,740 shares in the company, valued at $13,482,400. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Cameron Brooks sold 3,000 shares of Axon Enterprise stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the sale, the executive owned 19,447 shares of the company's stock, valued at approximately $14,405,559.72. The trade was a 13.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,642 shares of company stock worth $25,090,528 over the last ninety days. Company insiders own 4.40% of the company's stock.

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.