Teachers Retirement System of The State of Kentucky Grows Stock Position in Axon Enterprise, Inc $AXON

Teachers Retirement System of The State of Kentucky increased its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 130.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 13,090 shares of the biotechnology company’s stock after purchasing an additional 7,420 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Axon Enterprise were worth $5,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its holdings in Axon Enterprise by 53.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock worth $6,542,000 after buying an additional 4,002 shares in the last quarter. Legal & General Group Plc increased its holdings in Axon Enterprise by 1.3% in the fourth quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock valued at $242,241,000 after buying an additional 5,419 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Axon Enterprise during the 4th quarter valued at approximately $13,116,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Axon Enterprise by 93.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company’s stock valued at $13,270,000 after acquiring an additional 11,262 shares during the period. Finally, Teamwork Financial Advisors LLC lifted its position in shares of Axon Enterprise by 40.5% during the 4th quarter. Teamwork Financial Advisors LLC now owns 25,352 shares of the biotechnology company’s stock valued at $14,398,000 after acquiring an additional 7,307 shares during the period. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on AXON. Zacks Research upgraded shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Morgan Stanley set a $600.00 price objective on Axon Enterprise in a research report on Thursday, May 7th. Barclays reduced their target price on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. TD Cowen dropped their price target on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Finally, Needham & Company LLC boosted their price target on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $725.25.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $643.79, for a total value of $6,437,900.00. Following the transaction, the chief executive officer owned 3,040,997 shares in the company, valued at approximately $1,957,763,458.63. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $478.97, for a total value of $270,139.08. Following the sale, the director directly owned 3,632 shares of the company’s stock, valued at approximately $1,739,619.04. This trade represents a 13.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 58,989 shares of company stock worth $30,527,983. 4.20% of the stock is owned by corporate insiders.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $547.00 on Tuesday. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The firm has a 50 day moving average price of $460.80 and a 200 day moving average price of $482.64. The company has a market cap of $44.09 billion, a price-to-earnings ratio of 219.68, a PEG ratio of 11.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. Axon Enterprise’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.47 earnings per share. Sell-side analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Axon Enterprise Profile

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.