Vanguard Group Inc. Acquires 53,060 Shares of Axon Enterprise, Inc $AXON

Key Points

• Vanguard increased its stake in Axon by 53,060 shares in Q4, bringing its holdings to 9,367,224 shares — or about 11.87% of the company, valued at roughly $5.32 billion.
• Axon beat expectations for the quarter (EPS $2.15 vs. $1.60 expected) with revenue of $796.7M, up 38.5% year-over-year, signaling strong top-line growth.
• Despite the beat, the stock trades well below its 12-month high (opened at $402.59 vs. a $885.91 high), carries a rich PE of ~265, and faces mixed analyst sentiment with recent target cuts but an average target of $749.63.

Vanguard Group Inc. grew its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,367,224 shares of the biotechnology company's stock after buying an additional 53,060 shares during the quarter. Vanguard Group Inc. owned 11.87% of Axon Enterprise worth $5,319,928,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AXON. Stone House Investment Management LLC bought a new position in shares of Axon Enterprise during the third quarter valued at approximately $29,000. New Millennium Group LLC purchased a new stake in shares of Axon Enterprise in the third quarter valued at approximately $29,000. Sound Income Strategies LLC boosted its holdings in shares of Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after purchasing an additional 44 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Axon Enterprise in the third quarter valued at approximately $34,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $35,000. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON opened at $402.59 on Tuesday. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. The stock has a fifty day moving average price of $455.94 and a 200-day moving average price of $539.37. 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 firm has a market cap of $32.44 billion, a PE ratio of 264.86, a P/E/G ratio of 8.48 and a beta of 1.61.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.55. The company 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 quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter last year, the business posted $2.08 EPS. Equities research analysts predict that Axon Enterprise, Inc will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axon Enterprise news, Director Erika Nardini sold 198 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total transaction of $100,302.84. Following the sale, the director directly owned 1,946 shares of the company's stock, valued at approximately $985,804.68. This trade represents a 9.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $535.01, for a total value of $1,070,020.00. Following the sale, the insider owned 55,588 shares in the company, valued at $29,740,135.88. This trade represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,855 shares of company stock worth $7,109,828 over the last three months. Corporate insiders own 5.70% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on AXON shares. Robert W. Baird set a $800.00 price target on Axon Enterprise in a report on Wednesday, February 25th. Weiss Ratings lowered Axon Enterprise from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 10th. TD Cowen lowered their target price on Axon Enterprise from $950.00 to $825.00 and set a "buy" rating for the company in a report on Wednesday, April 8th. The Goldman Sachs Group lowered their target price on Axon Enterprise from $720.00 to $625.00 and set a "buy" rating for the company in a report on Wednesday, April 8th. Finally, UBS Group lowered their target price on Axon Enterprise from $610.00 to $570.00 and set a "neutral" 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. According to data from MarketBeat, Axon Enterprise has an average rating of "Moderate Buy" and an average target price 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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