Forsta AP Fonden Buys 13,160 Shares of Axon Enterprise, Inc $AXON

Forsta AP Fonden boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 81.7% in the fourth quarter, Holdings Channel reports. The firm owned 29,260 shares of the biotechnology company’s stock after acquiring an additional 13,160 shares during the period. Forsta AP Fonden’s holdings in Axon Enterprise were worth $16,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AXON. Creative Financial Designs Inc. ADV bought a new stake in Axon Enterprise during the fourth quarter worth approximately $28,000. New Millennium Group LLC bought a new stake in Axon Enterprise during the third quarter worth approximately $29,000. Sound Income Strategies LLC boosted its position in Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 44 shares during the period. Camelot Portfolios LLC acquired a new position in shares of Axon Enterprise during the fourth quarter worth approximately $30,000. Finally, Lodestone Wealth Management LLC acquired a new position in shares of Axon Enterprise during the fourth quarter worth approximately $35,000. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $448.72 on Friday. The business has a fifty day simple moving average of $407.53 and a 200 day simple moving average of $494.65. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $36.17 billion, a price-to-earnings ratio of 180.21, a PEG ratio of 8.16 and a beta of 1.44. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. The business had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.Axon Enterprise’s revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.47 earnings per share. Sell-side analysts expect that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on AXON shares. Piper Sandler cut their price target on Axon Enterprise from $690.00 to $674.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Needham & Company LLC cut their price target on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a report on Friday, February 20th. UBS Group cut their price target on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Weiss Ratings upgraded Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Finally, Citigroup reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $712.75.

Insider Transactions at Axon Enterprise

In related news, CAO Jennifer H. Mak sold 1,500 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the transaction, the chief accounting officer directly owned 12,240 shares in the company, valued at approximately $7,019,028. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Erika Nardini sold 198 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total value of $100,302.84. Following the completion of the transaction, the director owned 1,946 shares of the company’s stock, valued at $985,804.68. The trade was a 9.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,855 shares of company stock valued at $1,837,408. Company insiders own 4.20% of the company’s stock.

About Axon Enterprise

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.