PFA Pension Forsikringsaktieselskab Acquires Shares of 40,456 Axon Enterprise, Inc $AXON

Key Points

• PFA Pension Forsikringsaktieselskab acquired 40,456 shares of Axon in Q4 — about 0.05% of the company — valued at roughly $23.15 million.
• Axon beat expectations for the quarter, reporting $2.15 EPS vs. $1.60 expected and revenue of $796.72 million, up 38.5% year-over-year.
• Institutional investors own 79.08% of the stock and analysts remain mostly positive (average rating "Moderate Buy" and an average price target of about $749.63), while the shares trade well below their 52‑week high.

PFA Pension Forsikringsaktieselskab acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 40,456 shares of the biotechnology company's stock, valued at approximately $23,145,000. PFA Pension Forsikringsaktieselskab owned about 0.05% of Axon Enterprise at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 53,060 shares during the last quarter. Baillie Gifford & Co. raised its holdings in 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 acquiring an additional 1,516,099 shares during the last quarter. Jennison Associates LLC raised its holdings in Axon Enterprise by 53.8% in the 3rd quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company's stock valued at $677,412,000 after acquiring an additional 330,213 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in 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 acquiring an additional 156,647 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in 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 acquiring an additional 11,726 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $402.31 on Monday. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53. The firm has a 50 day moving average price of $454.05 and a 200 day moving average price of $532.97. The company has a market capitalization of $32.41 billion, a PE ratio of 264.68, a price-to-earnings-growth ratio of 8.59 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The firm had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. During the same quarter last year, the firm earned $2.08 EPS. The firm's revenue for the quarter was up 38.5% on a year-over-year basis. Research analysts expect that Axon Enterprise, Inc will post 1.41 earnings per share for the current year.

Insider Transactions at Axon Enterprise

In related news, Director Jeri Williams sold 157 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $490.00, for a total value of $76,930.00. Following the completion of the sale, the director owned 1,159 shares in the company, valued at approximately $567,910. This trade represents a 11.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the completion of the sale, the chief executive officer owned 3,090,997 shares of the company's stock, valued at $1,546,240,339.28. This trade represents a 0.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,855 shares of company stock worth $7,109,828 in the last three months. Company insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of recent research reports. Morgan Stanley reiterated an "overweight" rating on shares of Axon Enterprise in a report on Wednesday, April 8th. Craig Hallum reiterated a "buy" rating and issued a $820.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 25th. Royal Bank Of Canada cut their price target on shares of Axon Enterprise from $860.00 to $735.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. 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. Finally, Piper Sandler cut their price target on shares of Axon Enterprise from $753.00 to $690.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Sixteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $749.63.

Axon Enterprise Company 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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