Varma Mutual Pension Insurance Co Has $13.99 Million Position in Axon Enterprise, Inc $AXON

Key Points

• Varma Mutual Pension Insurance Co boosted its stake in Axon by 69.9% in Q4 to 24,630 shares, a holding valued at about $13.99 million as of the latest SEC filing.
• Company insiders have been selling recently — including CEO Patrick W. Smith who sold 10,000 shares for roughly $5.00 million — with 13,855 shares sold over the past 90 days and insiders now owning about 4.40% of the stock.
• Axon beat Q4 expectations, reporting $2.15 EPS vs. $1.60 expected and $796.7M revenue (up 38.5% YoY), while the stock trades well below its 52-week high and analysts maintain a "Moderate Buy" consensus with a $749.63 average target.

Varma Mutual Pension Insurance Co lifted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 69.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,630 shares of the biotechnology company's stock after buying an additional 10,130 shares during the quarter. Varma Mutual Pension Insurance Co's holdings in Axon Enterprise were worth $13,988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new position in Axon Enterprise in the 3rd quarter valued at $29,000. New Millennium Group LLC acquired a new position in shares of Axon Enterprise during the 3rd quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in shares of Axon Enterprise during the 2nd quarter worth $37,000. Root Financial Partners LLC bought a new position in Axon Enterprise in the third quarter valued at about $34,000. Finally, Sound Income Strategies LLC raised its position in 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 last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 3,090,997 shares in the company, valued at $1,546,240,339.28. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 55,588 shares in the company, valued at $29,740,135.88. This represents a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over 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 company insiders.

Axon Enterprise Stock Down 2.1%

Shares of NASDAQ:AXON opened at $393.75 on Tuesday. The business's 50 day simple moving average is $454.05 and its two-hundred day simple moving average is $532.97. The firm has a market cap of $31.73 billion, a P/E ratio of 259.05, a PEG ratio of 8.59 and a beta of 1.44. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91.

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, topping the consensus estimate of $1.60 by $0.55. The business had revenue of $796.72 million for 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 company's quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 earnings per share. As a group, research analysts forecast that Axon Enterprise, Inc will post 1.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on AXON shares. Citigroup reiterated a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. Piper Sandler decreased their target price on Axon Enterprise from $753.00 to $690.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Robert W. Baird set a $800.00 target price on Axon Enterprise in a research note on Wednesday, February 25th. Barclays decreased their target price on Axon Enterprise from $702.00 to $682.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada decreased their target price on Axon Enterprise from $860.00 to $735.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. Sixteen 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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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