The Florida Retirement System State Board of Directors reduced its stake in shares of Axon Enterprise, Inc. (NASDAQ: AXON – Get Rating) by 1.9% during Q1, according to the company in its most recent filing with the Securities & Exchange Commission. . The company held 73,828 shares of the biotech company after selling 1,459 shares during the period. The Florida Retirement System State Board of Directors held 0.10% of Axon Enterprise worth $10,168,000 when it was last filed with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently changed their stakes in the company. Washington Harbor Partners LP purchased a new position in Axon Enterprise during the fourth quarter worth approximately $2,098,000. Texas Permanent School Fund increased its stake in Axon Enterprise by 2.1% in Q1. Texas Permanent School Fund now owns 48,541 shares of the biotech company valued at $6,686,000 after buying 983 additional shares in the last quarter. Teacher Retirement System of Texas increased its stake in Axon Enterprise by 17.8% in the fourth quarter. Teacher Retirement System of Texas now owns 12,531 shares of the biotech company valued at $1,967,000 after buying 1,890 additional shares in the last quarter. Psagot Value Holdings Ltd. Israel acquired a new position in Axon Enterprise in Q4, valued at approximately $63,000. Finally, Capital Fund Management SA increased its stake in Axon Enterprise by 25.1% in the 4th quarter. Capital Fund Management SA now owns 31,976 shares of the biotech company valued at $5,020,000 after buying an additional 6,415 shares in the last quarter. Institutional investors and hedge funds hold 72.06% of the company’s shares.
Insider buying and selling
In related news, director Mark W. Kroll sold 3,159 shares of the company in a trade that took place on Wednesday, June 8. The shares were sold at an average price of $102.82, for a total transaction of $324,808.38. Following the sale, the director now directly owns 13,691 shares of the company, valued at approximately $1,407,708.62. The sale was disclosed in a legal filing with the SEC, which is available via this link. 6.90% of the shares are held by insiders.
Axon Enterprise Price Performance
Shares of AXON opened at $116.23 on Tuesday. Axon Enterprise, Inc. has a fifty-two week minimum of $82.49 and a fifty-two week maximum of $209.00. The company’s 50-day moving average price is $96.81 and its 200-day moving average price is $112.82. The company has a market capitalization of $8.25 billion, a P/E ratio of 223.52 and a beta of 0.66. The company has a quick ratio of 2.18, a current ratio of 2.43 and a leverage ratio of 0.02.
Axon Enterprise (NASDAQ:AXON – Get Rating) last announced its results on Tuesday, May 10. The biotech company reported earnings per share of $0.76 for the quarter. Axon Enterprise had a net margin of 4.62% and a return on equity of 3.90%. The company posted revenue of $256.43 million for the quarter, versus a consensus estimate of $233.57 million. During the same period of the previous year, the company achieved EPS of ($0.75). The company’s revenue for the quarter increased 31.5% on an annual basis. On average, research analysts expect Axon Enterprise, Inc. to post 1.35 earnings per share for the current fiscal year.
A Wall Street analyst gives his opinion
Several equity analysts weighed in on the stock. JMP Securities reiterated a “buy” rating and issued a target price of $195.00 on Axon Enterprise shares in a Wednesday, June 1 report. Robert W. Baird cut his price target on Axon Enterprise shares from $145.00 to $125.00 in a Wednesday, May 11 report. Morgan Stanley downgraded shares of Axon Enterprise from an “overweight” rating to an “equal weight” rating and set a price target of $120.00 for the stock. in a report on Monday, May 23. StockNews.com upgraded Axon Enterprise shares from a “hold” rating to a “buy” rating in a Saturday, June 18 report. Finally, Northland Securities cut its price target on Axon Enterprise shares from $180.00 to $130.00 in a Thursday, May 12 report. One financial analyst gave the stock a hold rating and eight gave the stock a buy rating. According to data from MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus price target of $162.25.
About Axon Enterprise
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Axon Enterprise, Inc develops, manufactures and sells pulsed energy devices (CEDs) under the TASER brand in the United States and around the world. It operates through two segments, TASER, and Software and Sensors. The company also offers cloud-based hardware and software solutions that enable law enforcement to securely capture, store, manage, share and analyze video and other digital evidence.
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