Generali Asset Management SPA SGR Decreases Position in Axon Enterprise, Inc $AXON

Key Points

• Generali Asset Management SPA SGR has decreased its holdings in Axon Enterprise, Inc by 14.2%, now owning 4,616 shares worth approximately $3.82 million.
• Axon Enterprise reported strong earnings of $2.12 per share, surpassing estimates by $0.58, with a revenue increase of 32.6% year over year.
• Insider trading activity includes CFO Brittany Bagley selling 5,000 shares, representing a significant decrease in their ownership of the stock.

Generali Asset Management SPA SGR decreased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 14.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,616 shares of the biotechnology company's stock after selling 767 shares during the quarter. Generali Asset Management SPA SGR's holdings in Axon Enterprise were worth $3,822,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AXON. LaSalle St. Investment Advisors LLC increased its holdings in shares of Axon Enterprise by 2.1% in the first quarter. LaSalle St. Investment Advisors LLC now owns 777 shares of the biotechnology company's stock valued at $408,000 after purchasing an additional 16 shares during the period. Hemington Wealth Management increased its holdings in shares of Axon Enterprise by 70.8% in the second quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 17 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Axon Enterprise by 5.0% in the first quarter. Smartleaf Asset Management LLC now owns 379 shares of the biotechnology company's stock valued at $203,000 after purchasing an additional 18 shares during the period. Kentucky Retirement Systems increased its holdings in shares of Axon Enterprise by 0.4% in the first quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company's stock valued at $2,605,000 after purchasing an additional 19 shares during the period. Finally, WCM Investment Management LLC increased its holdings in shares of Axon Enterprise by 0.8% in the first quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company's stock valued at $1,306,000 after purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Down 8.5%

Axon Enterprise stock opened at $644.99 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The firm has a market capitalization of $50.63 billion, a price-to-earnings ratio of 159.26, a price-to-earnings-growth ratio of 27.36 and a beta of 1.41. Axon Enterprise, Inc has a fifty-two week low of $422.38 and a fifty-two week high of $885.91. The stock's fifty day moving average is $747.25 and its two-hundred day moving average is $715.49.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results 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 company had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.Axon Enterprise's revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. Analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brittany Bagley sold 5,000 shares of the company's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $713.88, for a total value of $3,569,400.00. Following the sale, the chief financial officer directly owned 93,592 shares in the company, valued at $66,813,456.96. This represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Joshua Isner sold 15,919 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total value of $11,879,712.94. Following the completion of the sale, the president owned 238,379 shares in the company, valued at $177,892,712.54. This represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,932 shares of company stock valued at $45,115,616. Insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

AXON has been the topic of a number of recent research reports. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a report on Tuesday, August 5th. Bank of America upped their price objective on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wolfe Research initiated coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $825.00 price objective on shares of Axon Enterprise in a report on Monday, September 29th. Finally, Zacks Research lowered Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise currently has an average rating of "Moderate Buy" and an average target price of $841.64.

Axon Enterprise Profile

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.