Axon Enterprise, Inc $AXON Stock: Eurizon Capital SGR S.p.A. Raises Holdings

Eurizon Capital SGR S.p.A. lifted its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 6,058.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,593,304 shares of the biotechnology company’s stock after buying an additional 1,567,432 shares during the period. Axon Enterprise comprises approximately 1.8% of Eurizon Capital SGR S.p.A.’s holdings, making the stock its 10th largest position. Eurizon Capital SGR S.p.A.’s holdings in Axon Enterprise were worth $673,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. grew its stake in Axon Enterprise by 756.5% during the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 1,439 shares of the biotechnology company’s stock worth $608,000 after purchasing an additional 1,271 shares during the period. CENTRAL TRUST Co lifted its stake in Axon Enterprise by 3,086.6% in the third quarter. CENTRAL TRUST Co now owns 147,028 shares of the biotechnology company’s stock valued at $62,122,000 after buying an additional 142,414 shares during the period. Three Bridge Wealth Advisors LLC acquired a new position in Axon Enterprise in the third quarter valued at approximately $41,000. King Luther Capital Management Corp lifted its stake in Axon Enterprise by 1,731.8% in the third quarter. King Luther Capital Management Corp now owns 116,539 shares of the biotechnology company’s stock valued at $49,240,000 after buying an additional 110,177 shares during the period. Finally, New Mexico Educational Retirement Board boosted its holdings in shares of Axon Enterprise by 5,332.1% during the 3rd quarter. New Mexico Educational Retirement Board now owns 213,807 shares of the biotechnology company’s stock worth $90,338,000 after buying an additional 209,871 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on AXON shares. JPMorgan Chase & Co. reduced their price objective on shares of Axon Enterprise from $755.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, November 6th. Citigroup reiterated a “market outperform” rating on shares of Axon Enterprise in a research report on Monday, November 2nd. The Goldman Sachs Group cut their target price on shares of Axon Enterprise from $715.00 to $675.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. Raymond James Financial set a $675.00 price target on shares of Axon Enterprise in a report on Thursday, October 15th. Finally, TD Cowen decreased their price target on shares of Axon Enterprise from $825.00 to $800.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus price target of $612.18.

Key Headlines Impacting Axon Enterprise

Investors following AXON have been watching these headlines:

• Negative Sentiment: Axon’s third-quarter adjusted EPS was reported below consensus, and revenue of $908.55 million also trailed estimates of $934.33 million. Revenue nevertheless grew 27.8% year over year. The earnings shortfall is a key reason for the shares’ recent weakness; Barclays has also lowered its expectations for the stock. Article: Levi & Korsinsky Investigation Notice Article: Barclays Lowers Expectations for Axon
• Negative Sentiment: Two law firms publicized investigations into potential securities-law claims related to Axon’s earnings report. These are allegations under investigation, not findings of wrongdoing, but add legal uncertainty and could keep investor attention on the earnings miss. Article: SBS Law Fraud Investigation Notice
• Negative Sentiment: A recent Seeking Alpha analysis argues hardware-related risks persist, reinforcing concerns about Axon’s growth outlook. With the stock trading at a high valuation, investor tolerance for execution or growth disappointments may be limited. Article: Axon Enterprise: Hardware Risks Persist

Insider Transactions at Axon Enterprise

In related news, insider Isaiah Fields sold 1,017 shares of Axon Enterprise stock in a transaction on Friday, September 11th. The shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the completion of the sale, the insider owned 56,264 shares of the company’s stock, valued at approximately $27,032,038.80. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the sale, the chief executive officer owned 3,118,012 shares of the company’s stock, valued at $1,587,036,927.88. This trade represents a 0.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 37,397 shares of company stock valued at $21,234,034 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Down 2.6%

AXON stock opened at $307.11 on Friday. The stock’s 50 day simple moving average is $422.24 and its 200 day simple moving average is $469.16. Axon Enterprise, Inc has a fifty-two week low of $291.45 and a fifty-two week high of $665.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.60 and a current ratio of 3.00. The company has a market cap of $25.01 billion, a P/E ratio of 98.43, a price-to-earnings-growth ratio of 5.99 and a beta of 1.48.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Thursday, November 5th. The biotechnology company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.17). Axon Enterprise had a net margin of 7.56% and a return on equity of 3.87%. The firm had revenue of $908.55 million during the quarter, compared to analyst estimates of $934.33 million. During the same period last year, the business posted $1.17 EPS. The company’s revenue was up 27.8% on a year-over-year basis. On average, research analysts expect that Axon Enterprise, Inc will post 2.10 earnings per share for the current fiscal year.

About Axon Enterprise

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals. The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.