AustralianSuper Pty Ltd Decreases Stake in Axon Enterprise, Inc $AXON

AustralianSuper Pty Ltd lessened its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 32.5% during the fourth quarter, HoldingsChannel reports. The fund owned 55,869 shares of the biotechnology company’s stock after selling 26,910 shares during the period. AustralianSuper Pty Ltd’s holdings in Axon Enterprise were worth $31,730,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. New Millennium Group LLC purchased a new position in shares of Axon Enterprise in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in Axon Enterprise during the second quarter worth about $37,000. Root Financial Partners LLC acquired a new position in Axon Enterprise during the third quarter worth about $34,000. Sound Income Strategies LLC increased its holdings 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 buying an additional 44 shares in the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, Director Erika Nardini sold 198 shares of Axon Enterprise stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total value of $100,302.84. Following the completion of the sale, the director owned 1,946 shares in the company, valued at $985,804.68. The trade was a 9.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeri Williams sold 157 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $490.00, for a total transaction of $76,930.00. Following the transaction, the director directly owned 1,159 shares of the company’s stock, valued at approximately $567,910. This represents a 11.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 13,855 shares of company stock valued at $7,109,828. Corporate insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AXON. UBS Group lowered their price target on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Piper Sandler decreased their target price on Axon Enterprise from $690.00 to $674.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. TD Cowen lowered their target price on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Wall Street Zen upgraded Axon Enterprise from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $820.00 price target on shares of Axon Enterprise in a research note on Wednesday, February 25th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $712.75.

Axon Enterprise Stock Up 3.0%

AXON opened at $388.19 on Friday. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The firm has a market cap of $31.29 billion, a P/E ratio of 155.90, a PEG ratio of 8.86 and a beta of 1.44. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91. The business’s fifty day simple moving average is $435.78 and its 200 day simple moving average is $516.34.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the company earned $1.47 EPS. As a group, equities research analysts anticipate that Axon Enterprise, Inc will post 1.41 EPS for the current fiscal year.

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.