Public Employees Retirement System of Ohio Cuts Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Public Employees Retirement System of Ohio lowered its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,946 shares of the biotechnology company’s stock after selling 2,541 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Axon Enterprise were worth $8,431,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. BOKF NA grew its position in shares of Axon Enterprise by 52.7% during the first quarter. BOKF NA now owns 9,465 shares of the biotechnology company’s stock worth $2,947,000 after purchasing an additional 3,268 shares in the last quarter. Hood River Capital Management LLC boosted its stake in Axon Enterprise by 7.2% during the first quarter. Hood River Capital Management LLC now owns 213,724 shares of the biotechnology company’s stock valued at $66,870,000 after buying an additional 14,330 shares during the last quarter. 1832 Asset Management L.P. bought a new position in Axon Enterprise during the first quarter valued at approximately $81,630,000. Quadrature Capital Ltd bought a new position in Axon Enterprise during the first quarter valued at approximately $12,191,000. Finally, JT Stratford LLC bought a new position in Axon Enterprise during the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Up 1.5 %

Shares of AXON traded up $4.69 during trading hours on Tuesday, hitting $313.69. The company had a trading volume of 16,324 shares, compared to its average volume of 483,899. The company has a market capitalization of $23.67 billion, a PE ratio of 90.35, a price-to-earnings-growth ratio of 7.00 and a beta of 0.95. The company has a current ratio of 2.91, a quick ratio of 2.55 and a debt-to-equity ratio of 0.37. Axon Enterprise, Inc. has a one year low of $175.37 and a one year high of $329.87. The company’s fifty day moving average price is $294.83 and its two-hundred day moving average price is $292.75.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Friday, May 10th. The biotechnology company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.95 by $0.20. Axon Enterprise had a return on equity of 11.71% and a net margin of 15.60%. The firm had revenue of $460.74 million during the quarter, compared to analyst estimates of $441.57 million. During the same period in the previous year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 34.3% compared to the same quarter last year. As a group, equities analysts forecast that Axon Enterprise, Inc. will post 2.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Morgan Stanley lifted their target price on Axon Enterprise from $285.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a report on Wednesday, April 24th. Barclays raised their price target on Axon Enterprise from $308.00 to $381.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, Bank of America assumed coverage on Axon Enterprise in a research note on Wednesday, July 17th. They set a “buy” rating and a $380.00 price target for the company. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $342.54.

Insider Buying and Selling

In other Axon Enterprise news, Director Julie A. Cullivan sold 993 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $281.72, for a total transaction of $279,747.96. Following the sale, the director now owns 4,553 shares in the company, valued at approximately $1,282,671.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Axon Enterprise news, Director Jeri Williams sold 308 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $310.07, for a total transaction of $95,501.56. Following the sale, the director now owns 1,607 shares in the company, valued at approximately $498,282.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Julie A. Cullivan sold 993 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $281.72, for a total value of $279,747.96. Following the sale, the director now owns 4,553 shares in the company, valued at approximately $1,282,671.16. The disclosure for this sale can be found here. Insiders have sold a total of 89,447 shares of company stock worth $27,684,677 in the last ninety days. 6.10% of the stock is owned by insiders.

About Axon Enterprise

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.