New York State Teachers Retirement System reduced its stake in Axon Enterprise, Inc (NASDAQ:AXON – Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,408 shares of the biotechnology company’s stock after selling 845 shares during the quarter. New York State Teachers Retirement System’s holdings in Axon Enterprise were worth $24,805,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV acquired a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $28,000. Sound Income Strategies LLC lifted its holdings in Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 44 shares during the last quarter. Camelot Portfolios LLC bought a new stake in Axon Enterprise in the 4th quarter valued at $30,000. AlphaCentric Advisors LLC bought a new stake in Axon Enterprise in the 4th quarter valued at $34,000. Finally, Lodestone Wealth Management LLC acquired a new position in Axon Enterprise in the 4th quarter valued at $35,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Axon Enterprise
In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the transaction, the insider directly owned 34,024 shares in the company, valued at $16,501,640. This represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the transaction, the president owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,989 shares of company stock worth $24,090,083 in the last ninety days. Insiders own 4.20% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Analysis on Axon Enterprise
Axon Enterprise Stock Performance
NASDAQ:AXON opened at $597.04 on Friday. The stock’s 50-day simple moving average is $437.68 and its 200 day simple moving average is $482.40. The firm has a market capitalization of $48.12 billion, a PE ratio of 239.78, a price-to-earnings-growth ratio of 12.18 and a beta of 1.38. The company has a quick ratio of 1.93, a current ratio of 2.27 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.
Axon Enterprise (NASDAQ:AXON – Get Free Report) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.47 earnings per share. On average, analysts anticipate that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.
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.
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