National Pension Service Has $56.15 Million Position in Axon Enterprise, Inc $AXON

Key Points

• National Pension Service cut its Axon Enterprise stake by 49.5% in the fourth quarter, though it still held 98,859 shares valued at about $56.15 million.
• Axon reported better-than-expected Q1 earnings, posting EPS of $1.61 versus estimates of $1.60 and revenue of $807.35 million, up 33.7% year over year.
• Despite the strong results, Axon’s stock traded around $448.72 and analysts remained broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $712.75.

National Pension Service reduced its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 49.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,859 shares of the biotechnology company's stock after selling 96,907 shares during the period. National Pension Service owned about 0.13% of Axon Enterprise worth $56,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Axon Enterprise by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock valued at $5,319,928,000 after purchasing an additional 53,060 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Axon Enterprise by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company's stock valued at $1,265,657,000 after purchasing an additional 35,544 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Axon Enterprise by 1,198.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock valued at $932,869,000 after purchasing an additional 1,516,099 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Axon Enterprise by 23.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company's stock valued at $476,089,000 after purchasing an additional 156,647 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Axon Enterprise by 1.6% in the 3rd quarter. Northern Trust Corp now owns 743,926 shares of the biotechnology company's stock valued at $533,871,000 after purchasing an additional 11,726 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Up 2.1%

Shares of NASDAQ AXON opened at $448.72 on Friday. The company has a 50 day simple moving average of $407.53 and a 200 day simple moving average of $494.65. The firm has a market cap of $36.17 billion, a PE ratio of 180.21, a price-to-earnings-growth ratio of 8.16 and a beta of 1.44. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. The business had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm's quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the business earned $1.47 EPS. On average, research analysts forecast that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, Director Erika Nardini sold 198 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total transaction of $100,302.84. Following the completion of the transaction, the director owned 1,946 shares in the company, valued at approximately $985,804.68. This trade represents a 9.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 owned 1,159 shares of the company's stock, valued at approximately $567,910. The trade was a 11.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,855 shares of company stock worth $1,837,408 in the last 90 days. Corporate insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird set a $800.00 price target on shares of Axon Enterprise in a research note on Wednesday, February 25th. Weiss Ratings upgraded shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 8th. Citizens Jmp reduced their price target on shares of Axon Enterprise from $825.00 to $700.00 and set a "market outperform" rating on the stock in a research note on Thursday, May 7th. Piper Sandler dropped their price objective on shares of Axon Enterprise from $690.00 to $674.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Finally, Needham & Company LLC dropped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $712.75.

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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