Robeco Institutional Asset Management B.V. Cuts Holdings in Axon Enterprise, Inc $AXON

Robeco Institutional Asset Management B.V. cut its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 14.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 86,766 shares of the biotechnology company’s stock after selling 14,176 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.11% of Axon Enterprise worth $71,837,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC raised its position in Axon Enterprise by 23,203.7% in the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company’s stock worth $322,961,000 after acquiring an additional 611,418 shares during the period. Nuveen LLC bought a new stake in Axon Enterprise in the first quarter worth about $264,796,000. Westfield Capital Management Co. LP raised its position in Axon Enterprise by 29.8% in the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock worth $487,977,000 after acquiring an additional 212,931 shares during the period. Vanguard Group Inc. raised its position in Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company’s stock worth $4,540,005,000 after acquiring an additional 185,571 shares during the period. Finally, Axiom Investors LLC DE bought a new stake in Axon Enterprise in the first quarter worth about $93,088,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $720.53 on Friday. The company has a 50 day moving average of $758.18 and a 200 day moving average of $706.15. The stock has a market cap of $56.56 billion, a P/E ratio of 177.91, a P/E/G ratio of 27.62 and a beta of 1.41. Axon Enterprise, Inc has a 12 month low of $403.16 and a 12 month high of $885.91. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.54 by $0.58. The company had revenue of $668.54 million during the quarter, compared to analysts’ expectations of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In related news, insider Jeffrey C. Kunins sold 7,891 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the completion of the transaction, the insider owned 144,538 shares of the company’s stock, valued at approximately $108,417,953.80. The trade was a 5.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brittany Bagley sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the transaction, the chief financial officer directly owned 93,592 shares of the company’s stock, valued at approximately $66,813,456.96. This represents a 5.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,932 shares of company stock valued at $37,978,216 in the last quarter. 4.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on AXON shares. Northland Securities set a $800.00 price objective on shares of Axon Enterprise in a research report on Tuesday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $870.00 price objective on shares of Axon Enterprise in a research report on Wednesday, September 24th. Wolfe Research started coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They issued an “outperform” rating on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $855.00 price objective (up previously from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Finally, Craig Hallum raised shares of Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 price target on the stock in a research report on Tuesday, August 5th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $841.64.

Axon Enterprise Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.