Groupama Asset Managment Sells 749,075 Shares of Axon Enterprise, Inc $AXON

Key Points

• Groupama Asset Management cut its Axon Enterprise stake by 99.8%, selling 749,075 shares and retaining 1,759 shares valued at approximately $747,000.
• Institutional investors own 79.08% of Axon, while insiders sold 58,989 shares worth $30.5 million during the last quarter.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $725.25 price target; Axon also reported 33.7% year-over-year revenue growth in its latest quarter.

Groupama Asset Managment reduced its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 99.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,759 shares of the biotechnology company's stock after selling 749,075 shares during the quarter. Groupama Asset Managment's holdings in Axon Enterprise were worth $747,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Creative Financial Designs Inc. ADV bought a new stake in shares of Axon Enterprise in the 4th quarter worth $28,000. Sound Income Strategies LLC lifted its position in shares of Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after purchasing an additional 44 shares in the last quarter. Camelot Portfolios LLC purchased a new position in Axon Enterprise during the fourth quarter worth about $30,000. AlphaCentric Advisors LLC purchased a new position in Axon Enterprise during the fourth quarter worth about $34,000. Finally, Darwin Wealth Management LLC bought a new stake in Axon Enterprise in the 2nd quarter worth about $37,000. 79.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CRO Cameron Brooks sold 1,242 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the sale, the executive directly owned 49,710 shares in the company, valued at approximately $24,855,000. The trade was a 2.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the sale, the director directly owned 3,632 shares in the company, valued at approximately $1,739,619.04. This trade represents a 13.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 58,989 shares of company stock worth $30,527,983 in the last quarter. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AXON has been the topic of several recent analyst reports. Needham & Company LLC lifted their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Weiss Ratings upgraded Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 8th. UBS Group cut their price objective on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Finally, Zacks Research downgraded Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $725.25.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $527.76 on Monday. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The firm has a market cap of $42.54 billion, a P/E ratio of 211.95, a PEG ratio of 10.77 and a beta of 1.39. The company has a 50 day moving average of $497.09 and a 200-day moving average of $475.52. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The business had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business's revenue for the quarter was up 33.7% on a year-over-year basis. During the same period last year, the business posted $1.47 earnings per share. Sell-side analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Axon Enterprise Profile

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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