Public Employees Retirement Association of Colorado Lowers Stock Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Public Employees Retirement Association of Colorado cut its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 3.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,427 shares of the biotechnology company’s stock after selling 298 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Axon Enterprise were worth $2,185,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AXON. 9258 Wealth Management LLC acquired a new position in shares of Axon Enterprise during the 4th quarter worth about $204,000. Beacon Pointe Advisors LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter worth approximately $218,000. PNC Financial Services Group Inc. increased its position in shares of Axon Enterprise by 11.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,320 shares of the biotechnology company’s stock worth $1,116,000 after purchasing an additional 427 shares in the last quarter. Assetmark Inc. lifted its holdings in Axon Enterprise by 8.0% in the 4th quarter. Assetmark Inc. now owns 4,438 shares of the biotechnology company’s stock valued at $1,146,000 after purchasing an additional 329 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Axon Enterprise by 6.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 8,251 shares of the biotechnology company’s stock worth $2,131,000 after buying an additional 535 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Axon Enterprise

In other news, Director Matthew R. Mcbrady sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $364.66, for a total transaction of $729,320.00. Following the completion of the sale, the director now owns 4,892 shares in the company, valued at approximately $1,783,916.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Julie A. Cullivan sold 900 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $353.53, for a total transaction of $318,177.00. Following the transaction, the director now owns 3,653 shares in the company, valued at approximately $1,291,445.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew R. Mcbrady sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $364.66, for a total value of $729,320.00. Following the completion of the sale, the director now owns 4,892 shares of the company’s stock, valued at approximately $1,783,916.72. The disclosure for this sale can be found here. Insiders have sold 317,981 shares of company stock worth $115,662,734 over the last three months. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

AXON has been the topic of a number of recent research reports. Craig Hallum boosted their price target on shares of Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Barclays raised their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Bank of America initiated coverage on Axon Enterprise in a research note on Wednesday, July 17th. They set a “buy” rating and a $380.00 target price for the company. Northland Securities upped their price target on Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Axon Enterprise in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and an average price target of $365.38.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $393.94 on Tuesday. The stock has a market cap of $29.73 billion, a P/E ratio of 115.19, a price-to-earnings-growth ratio of 10.34 and a beta of 0.94. The company has a fifty day simple moving average of $349.75 and a 200-day simple moving average of $317.79. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. Axon Enterprise, Inc. has a 12-month low of $189.12 and a 12-month high of $397.32.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.18. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The business had revenue of $504.00 million during the quarter, compared to analysts’ expectations of $478.35 million. During the same period in the prior year, the firm posted $0.80 EPS. The business’s quarterly revenue was up 34.5% compared to the same quarter last year. Equities analysts expect that Axon Enterprise, Inc. will post 1.79 EPS for the current fiscal year.

Axon Enterprise Company 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.