Robeco Institutional Asset Management B.V. Sells 99,712 Shares of Axon Enterprise, Inc $AXON

Key Points

• Robeco Institutional Asset Management cut its Axon stake by 89.7%, selling 99,712 shares in Q4 and leaving 11,485 shares worth $6.523 million.
• Axon posted a quarterly beat with EPS $2.15 vs. $1.60 expected and revenue of $796.72 million, up 38.5% year‑over‑year.
• Analysts are mostly bullish (16 Buys, average target $755.88), though there are mixed signals including a Weiss downgrade to Sell and recent insider selling (CEO sold 10,000 shares).

Robeco Institutional Asset Management B.V. trimmed its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 89.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,485 shares of the biotechnology company's stock after selling 99,712 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Axon Enterprise were worth $6,523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Axon Enterprise by 4.2% during the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company's stock worth $6,684,217,000 after purchasing an additional 376,904 shares during the period. Jennison Associates LLC boosted its position in Axon Enterprise by 53.8% during the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company's stock worth $677,412,000 after purchasing an additional 330,213 shares during the period. Massachusetts Financial Services Co. MA boosted its position in 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. Northern Trust Corp boosted its position in Axon Enterprise by 1.6% during the third quarter. Northern Trust Corp now owns 743,926 shares of the biotechnology company's stock worth $533,871,000 after purchasing an additional 11,726 shares during the period. Finally, Legal & General Group Plc boosted its position in Axon Enterprise by 3.1% during the third quarter. Legal & General Group Plc now owns 421,114 shares of the biotechnology company's stock worth $302,208,000 after purchasing an additional 12,736 shares during the period. 79.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on AXON. Northcoast Research raised 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. Morgan Stanley reaffirmed an "overweight" rating on shares of Axon Enterprise in a research report on Wednesday, April 8th. William Blair reaffirmed an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Weiss Ratings cut shares of Axon Enterprise from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, April 10th. Finally, Craig Hallum reaffirmed a "buy" rating and set a $820.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. Sixteen equities research 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $755.88.

Insider Activity at Axon Enterprise

In other news, Director Jeri Williams sold 157 shares of Axon Enterprise stock in a transaction 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 completion of the sale, the director 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. The transaction 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 Axon Enterprise stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $500.24, for a total value of $5,002,400.00. Following the sale, the chief executive officer directly owned 3,090,997 shares of the company's stock, valued at $1,546,240,339.28. This represents a 0.32% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 13,855 shares of company stock valued at $7,109,828. 4.40% of the stock is currently owned by insiders.

Axon Enterprise Stock Up 5.6%

AXON opened at $402.18 on Thursday. 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 company has a market capitalization of $32.34 billion, a P/E ratio of 264.59, a P/E/G ratio of 8.13 and a beta of 1.61. The stock has a fifty day moving average of $460.43 and a 200-day moving average of $558.53.

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, topping analysts' consensus estimates of $1.60 by $0.55. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The company 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 earnings per share. The company's revenue was up 38.5% on a year-over-year basis. On average, equities analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

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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