Arizona State Retirement System Grows Stock Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Arizona State Retirement System grew its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 20,927 shares of the biotechnology company’s stock after purchasing an additional 107 shares during the period. Arizona State Retirement System’s holdings in Axon Enterprise were worth $11,007,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AXON. Vanguard Group Inc. raised its holdings in Axon Enterprise by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company’s stock worth $5,019,886,000 after acquiring an additional 275,959 shares during the last quarter. Geode Capital Management LLC raised its holdings in Axon Enterprise by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company’s stock worth $1,095,542,000 after acquiring an additional 65,097 shares during the last quarter. Capital World Investors raised its holdings in Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company’s stock worth $1,079,145,000 after acquiring an additional 841,772 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Axon Enterprise by 273.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock worth $659,128,000 after acquiring an additional 812,337 shares during the last quarter. Finally, Norges Bank purchased a new position in Axon Enterprise in the 4th quarter worth approximately $482,081,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of recent analyst reports. Barclays boosted their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Wolfe Research started coverage on shares of Axon Enterprise in a report on Monday, July 7th. They issued an “outperform” rating for the company. Bank of America boosted their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Needham & Company LLC boosted their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average price target of $699.55.

Axon Enterprise Trading Down 0.5%

Shares of AXON stock opened at $729.62 on Monday. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $830.21. The firm has a fifty day moving average price of $752.67 and a 200-day moving average price of $641.14. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. The company has a market cap of $56.80 billion, a price-to-earnings ratio of 176.24, a PEG ratio of 83.99 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The firm had revenue of $603.63 million during the quarter, compared to the consensus estimate of $585.67 million. During the same quarter in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, equities analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Activity

In related news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $738.84, for a total value of $960,492.00. Following the completion of the transaction, the director owned 4,829 shares of the company’s stock, valued at approximately $3,567,858.36. This represents a 21.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Joshua Isner sold 905 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total transaction of $702,632.95. Following the completion of the transaction, the president directly owned 268,735 shares of the company’s stock, valued at $208,643,166.65. This represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,642 shares of company stock worth $30,500,428. Company insiders own 5.70% of the company’s stock.

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.