Teacher Retirement System of Texas Decreases Holdings in Axon Enterprise, Inc $AXON

Teacher Retirement System of Texas cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 12.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,686 shares of the biotechnology company’s stock after selling 1,368 shares during the quarter. Teacher Retirement System of Texas’ holdings in Axon Enterprise were worth $6,951,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Axon Enterprise by 3.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,423 shares of the biotechnology company’s stock valued at $132,349,000 after acquiring an additional 5,953 shares in the last quarter. Wealthedge Investment Advisors LLC lifted its holdings in Axon Enterprise by 180.7% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 1,204 shares of the biotechnology company’s stock worth $997,000 after buying an additional 775 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its stake in Axon Enterprise by 11.7% in the second quarter. Jaffetilchin Investment Partners LLC now owns 5,938 shares of the biotechnology company’s stock worth $4,916,000 after acquiring an additional 624 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Axon Enterprise by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock valued at $7,399,515,000 after acquiring an additional 305,252 shares during the last quarter. Finally, Duncker Streett & Co. Inc. grew its holdings in shares of Axon Enterprise by 3.2% during the second quarter. Duncker Streett & Co. Inc. now owns 14,501 shares of the biotechnology company’s stock worth $12,006,000 after purchasing an additional 448 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $551.92, for a total transaction of $5,519,200.00. Following the completion of the sale, the chief executive officer owned 3,110,997 shares of the company’s stock, valued at $1,717,021,464.24. This trade represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer H. Mak sold 1,134 shares of Axon Enterprise stock in a transaction on Friday, December 19th. The stock was sold at an average price of $600.00, for a total value of $680,400.00. Following the sale, the chief accounting officer directly owned 13,740 shares of the company’s stock, valued at $8,244,000. This represents a 7.62% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 60,540 shares of company stock worth $34,684,738. Company insiders own 5.70% of the company’s stock.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $605.07 on Tuesday. The firm has a fifty day moving average price of $577.40 and a two-hundred day moving average price of $674.32. The company has a market cap of $47.75 billion, a PE ratio of 191.48, a price-to-earnings-growth ratio of 19.30 and a beta of 1.41. Axon Enterprise, Inc has a fifty-two week low of $469.24 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The business had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.45 earnings per share. Analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AXON. Northcoast Research raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 target price on the stock in a report on Tuesday, January 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday, December 29th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. Barclays dropped their target price on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, UBS Group cut their price target on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $805.71.

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.