California Public Employees Retirement System lessened its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON – Free Report) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 93,268 shares of the biotechnology company’s stock after selling 4,565 shares during the period. California Public Employees Retirement System’s holdings in Axon Enterprise were worth $39,610,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of AXON. Gryphon Financial Partners LLC lifted its stake in shares of Axon Enterprise by 23.1% during the first quarter. Gryphon Financial Partners LLC now owns 1,128 shares of the biotechnology company’s stock worth $479,000 after buying an additional 212 shares during the period. Bessemer Group Inc. raised its stake in Axon Enterprise by 3.0% in the 1st quarter. Bessemer Group Inc. now owns 231,839 shares of the biotechnology company’s stock worth $98,460,000 after acquiring an additional 6,742 shares during the last quarter. SteelPeak Wealth LLC purchased a new position in Axon Enterprise in the 1st quarter worth $286,000. Allspring Global Investments Holdings LLC raised its stake in shares of Axon Enterprise by 13.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 135,940 shares of the biotechnology company’s stock worth $57,580,000 after purchasing an additional 15,762 shares during the last quarter. Finally, Independent Financial Group LLC acquired a new stake in Axon Enterprise during the 1st quarter valued at approximately $1,158,000. Institutional investors and hedge funds own 79.08% of the company’s stock.
Axon Enterprise Stock Performance
Shares of AXON stock opened at $527.48 on Tuesday. The company has a market capitalization of $42.51 billion, a P/E ratio of 211.84, a P/E/G ratio of 10.41 and a beta of 1.38. The business’s 50 day moving average is $474.33 and its two-hundred day moving average is $480.87. 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 12-month low of $339.01 and a 12-month high of $885.91.
Insider Transactions at Axon Enterprise
In related news, CRO Cameron Brooks sold 1,242 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the transaction, the executive directly owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the sale, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. The trade was a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 58,989 shares of company stock worth $30,527,983 in the last three months. 4.20% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. The Goldman Sachs Group set a $535.00 price objective on Axon Enterprise in a report on Thursday, May 7th. Morgan Stanley set a $600.00 target price on Axon Enterprise in a research note on Thursday, May 7th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a report on Thursday, June 25th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $725.25.
Check Out Our Latest Stock Analysis on Axon Enterprise
Axon Enterprise Company 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.
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