SEB Asset Management AB Purchases New Stake in Axon Enterprise, Inc $AXON

SEB Asset Management AB acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,844 shares of the biotechnology company’s stock, valued at approximately $6,729,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Swiss National Bank increased its stake in shares of Axon Enterprise by 7.6% during the 1st quarter. Swiss National Bank now owns 220,020 shares of the biotechnology company’s stock worth $93,440,000 after purchasing an additional 15,600 shares during the last quarter. Ascent Wealth Partners LLC grew its holdings in Axon Enterprise by 3.8% during the first quarter. Ascent Wealth Partners LLC now owns 15,405 shares of the biotechnology company’s stock valued at $6,542,000 after purchasing an additional 568 shares during the period. Gryphon Financial Partners LLC increased its position in Axon Enterprise by 23.1% in the first quarter. Gryphon Financial Partners LLC now owns 1,128 shares of the biotechnology company’s stock worth $479,000 after buying an additional 212 shares during the last quarter. Bessemer Group Inc. increased its position in Axon Enterprise by 3.0% in the first quarter. Bessemer Group Inc. now owns 231,839 shares of the biotechnology company’s stock worth $98,460,000 after buying an additional 6,742 shares during the last quarter. Finally, SteelPeak Wealth LLC bought a new stake in shares of Axon Enterprise in the first quarter valued at $286,000. Institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

AXON has been the topic of a number of recent research reports. Barclays dropped their price target on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. UBS Group lowered their price objective on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Piper Sandler upped their price objective on shares of Axon Enterprise from $674.00 to $724.00 and gave the company an “overweight” rating in a report on Monday, July 13th. JPMorgan Chase & Co. increased their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley set a $600.00 target price on shares of Axon Enterprise in a research note on Thursday, May 7th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus target price of $725.25.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $511.17 on Wednesday. The company has a 50 day moving average of $476.68 and a 200 day moving average of $480.47. 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 stock has a market cap of $41.20 billion, a P/E ratio of 205.29, a P/E/G ratio of 10.76 and a beta of 1.38. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted its 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. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. During the same period in the prior year, the company posted $1.47 EPS. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the sale, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $10,000,000.00. Following the sale, the chief executive officer directly owned 3,060,997 shares of the company’s stock, valued at $1,530,498,500. This represents a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 58,989 shares of company stock valued at $30,527,983. Corporate 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.