Pictet Asset Management Holding SA Decreases Holdings in Axon Enterprise, Inc $AXON

Key Points

• Pictet Asset Management cut its stake in Axon by 12.6% in Q4, selling 6,385 shares and leaving it with 44,171 shares worth about $25.09 million.
• Axon beat Q4 estimates with $2.15 EPS vs. $1.60 expected and reported revenue of $796.72 million, up 38.5% year‑over‑year.
• Analysts hold a consensus of "Moderate Buy" with an average price target of $749.63 (16 Buys, 2 Holds, 1 Sell), well above the recent trading level around $401.76.

Pictet Asset Management Holding SA lowered its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,171 shares of the biotechnology company's stock after selling 6,385 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Axon Enterprise worth $25,086,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of AXON. Baillie Gifford & Co. increased its stake in Axon Enterprise by 1,198.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock worth $932,869,000 after buying an additional 1,516,099 shares during the period. Vanguard Group Inc. increased its holdings in Axon Enterprise by 4.2% in the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company's stock valued at $6,684,217,000 after buying an additional 376,904 shares during the last quarter. Jennison Associates LLC raised its position in shares of Axon Enterprise by 53.8% during 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Axon Enterprise by 23.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company's stock worth $476,089,000 after purchasing an additional 156,647 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in Axon Enterprise by 2,541.0% during the third quarter. Artisan Partners Limited Partnership now owns 96,053 shares of the biotechnology company's stock worth $68,931,000 after acquiring an additional 99,988 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Trading Up 0.3%

NASDAQ AXON opened at $401.76 on Friday. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91. The firm's fifty day simple moving average is $454.05 and its 200-day simple moving average is $535.39. 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 capitalization of $32.37 billion, a PE ratio of 264.32, a price-to-earnings-growth ratio of 8.55 and a beta of 1.61.

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

Insider Activity at Axon Enterprise

In other news, CAO Jennifer H. Mak sold 1,500 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the sale, the chief accounting officer directly owned 12,240 shares in the company, valued at approximately $7,019,028. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the transaction, the chief executive officer directly owned 3,090,997 shares of the company's stock, valued at approximately $1,546,240,339.28. This represents a 0.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 13,855 shares of company stock valued at $7,109,828. Insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

AXON has been the topic of several analyst reports. Wall Street Zen raised Axon Enterprise from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Morgan Stanley reissued an "overweight" rating on shares of Axon Enterprise in a report on Wednesday, April 8th. Piper Sandler dropped their price target on shares of Axon Enterprise from $753.00 to $690.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 25th. Barclays cut their price target on shares of Axon Enterprise from $702.00 to $682.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Finally, Northcoast Research upgraded shares of Axon Enterprise from a "neutral" rating to a "buy" rating and set a $742.00 price objective for the company in a research report on Tuesday, January 6th. Sixteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and an average 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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