Teachers Retirement System of The State of Kentucky Increases Stake in Axon Enterprise, Inc $AXON

Teachers Retirement System of The State of Kentucky grew its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 130.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,090 shares of the biotechnology company’s stock after purchasing an additional 7,420 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Axon Enterprise were worth $5,560,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AXON. Baillie Gifford & Co. lifted its stake in shares of Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after buying an additional 1,516,099 shares in the last quarter. Edgewood Management LLC acquired a new stake in Axon Enterprise in the 4th quarter valued at about $846,516,000. Wellington Management Group LLP lifted its stake in Axon Enterprise by 326.9% in the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after purchasing an additional 1,179,038 shares in the last quarter. Norges Bank purchased a new position in Axon Enterprise in the 4th quarter worth approximately $515,764,000. Finally, Sands Capital Management LLC boosted its holdings in shares of Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock worth $914,047,000 after purchasing an additional 167,095 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Buying and Selling

In other news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the sale, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares in the company, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 58,989 shares of company stock valued at $30,527,983 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Down 3.3%

Shares of NASDAQ:AXON opened at $547.00 on Tuesday. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91. The firm has a 50 day simple moving average of $460.80 and a 200-day simple moving average of $482.64. The company has a market capitalization of $44.09 billion, a PE ratio of 219.68, a P/E/G ratio of 11.54 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. During the same period in the previous year, the company posted $1.47 EPS. The company’s quarterly revenue was up 33.7% on a year-over-year basis. On average, equities analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Barclays decreased their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. The Goldman Sachs Group set a $535.00 price objective on Axon Enterprise in a report on Thursday, May 7th. TD Cowen lowered their price objective 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, Piper Sandler raised their target price on Axon Enterprise from $674.00 to $724.00 and gave the stock an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $725.25.

About Axon Enterprise

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.