Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Mirae Asset Global Investments raised its stake in Axon by 20.6% in Q4 to 41,450 shares, worth about $23.54 million (roughly 0.05% of the company).
• Axon beat quarterly expectations, reporting EPS of $2.15 versus $1.60 expected and revenue of $796.7 million, a 38.5% year‑over‑year increase.
• About 79% of the stock is held by institutions, analysts have a consensus "Moderate Buy" with a $749.63 target despite some recent cuts, and insiders sold ~13,855 shares (~$7.11M) over the last 90 days.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 20.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,450 shares of the biotechnology company's stock after purchasing an additional 7,069 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.05% of Axon Enterprise worth $23,541,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new position in Axon Enterprise during the third quarter worth about $29,000. New Millennium Group LLC purchased a new position in Axon Enterprise during the third quarter worth about $29,000. Sound Income Strategies LLC raised its holdings in Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 44 shares in the last quarter. Root Financial Partners LLC purchased a new position in Axon Enterprise during the third quarter worth about $34,000. Finally, Lodestone Wealth Management LLC purchased a new position in Axon Enterprise during the fourth quarter worth about $35,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

AXON stock opened at $402.85 on Friday. The firm has a 50 day moving average of $460.07 and a 200-day moving average of $554.07. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53. The company has a market cap of $32.39 billion, a price-to-earnings ratio of 265.03, a PEG ratio of 8.39 and a beta of 1.61.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The business had revenue of $796.72 million during the quarter, compared to analysts' expectations of $755.29 million. During the same period last year, the company posted $2.08 EPS. The company's revenue was up 38.5% on a year-over-year basis. As a group, equities analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other news, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the completion of the transaction, the insider directly owned 55,588 shares of the company's stock, valued at $29,740,135.88. This trade represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeri Williams sold 157 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total transaction of $76,930.00. Following the transaction, the director directly owned 1,159 shares of the company's stock, valued at approximately $567,910. This trade represents a 11.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 13,855 shares of company stock worth $7,109,828. 4.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on AXON shares. Needham & Company LLC cut their price target on shares of Axon Enterprise from $870.00 to $600.00 and set a "buy" rating for the company in a report on Friday, February 20th. Robert W. Baird set a $800.00 price target on shares of Axon Enterprise in a research report on Wednesday, February 25th. Piper Sandler reduced their price target on shares of Axon Enterprise from $753.00 to $690.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Northcoast Research upgraded shares of Axon Enterprise from a "neutral" rating to a "buy" rating and set a $742.00 price target for the company in a research report on Tuesday, January 6th. Finally, Citigroup reiterated a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. Sixteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Axon Enterprise presently has an average rating of "Moderate Buy" and a consensus target price of $749.63.

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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