Public Employees Retirement System of Ohio Invests $12.38 Million in Axon Enterprise, Inc $AXON

Public Employees Retirement System of Ohio acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,075 shares of the biotechnology company’s stock, valued at approximately $12,375,000.

Other hedge funds have also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in Axon Enterprise in the second quarter worth $37,000. Creative Financial Designs Inc. ADV bought a new position in Axon Enterprise during the fourth quarter valued at $28,000. Keating Financial Advisory Services Inc. bought a new position in Axon Enterprise during the second quarter valued at $31,000. AlphaCentric Advisors LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth $34,000. Finally, Strive Financial Group LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth $41,000. Institutional investors own 79.08% of the company’s stock.

Analysts Set New Price Targets

AXON has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Barclays lifted their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $730.92.

Insider Activity

In related news, CEO Patrick W. Smith sold 9,930 shares of Axon Enterprise stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $548.77, for a total transaction of $5,449,286.10. Following the completion of the sale, the chief executive officer owned 3,031,067 shares in the company, valued at $1,663,358,637.59. This trade represents a 0.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the sale, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 75,401 shares of company stock worth $40,670,843 in the last three months. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $600.73 on Monday. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $792.16. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $560.75 and a 200-day moving average price of $483.34. The firm has a market capitalization of $48.80 billion, a PE ratio of 249.27, a price-to-earnings-growth ratio of 9.75 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.84 by $0.04. The company had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm’s revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.12 EPS. As a group, equities research analysts forecast that Axon Enterprise, Inc will post 2.04 EPS 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.