Axon Enterprise, Inc $AXON Stake Increased by New Mexico Educational Retirement Board

Key Points

• New Mexico Educational Retirement Board increased its Axon stake by 5,332.1% in the third quarter, ending with 213,807 shares worth about $90.3 million. Other institutional investors also added shares, and institutions and hedge funds own 79.08% of the company.
• Axon’s latest quarterly revenue rose 27.8% year over year to $908.6 million, but both revenue and EPS of $1.72 fell short of analyst estimates.
• Analysts maintain a consensus “Moderate Buy” rating and an average price target of $612.18, though Barclays and Needham cut their targets. The shares opened at $315.42, well below their 50- and 200-day moving averages.

New Mexico Educational Retirement Board increased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 5,332.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 213,807 shares of the biotechnology company's stock after buying an additional 209,871 shares during the quarter. Axon Enterprise comprises 2.2% of New Mexico Educational Retirement Board's portfolio, making the stock its 6th largest position. New Mexico Educational Retirement Board owned about 0.26% of Axon Enterprise worth $90,338,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in shares of Axon Enterprise by 122,993.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 461,601 shares of the biotechnology company's stock valued at $195,036,000 after acquiring an additional 461,226 shares in the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Axon Enterprise during the second quarter worth $3,854,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Axon Enterprise in the 1st quarter worth about $15,067,000. Brown Lisle Cummings Inc. lifted its position in shares of Axon Enterprise by 97,231.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 34,066 shares of the biotechnology company's stock worth $19,098,000 after buying an additional 34,031 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Axon Enterprise by 40.7% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,083 shares of the biotechnology company's stock worth $6,406,000 after buying an additional 4,360 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Up 4.3%

AXON opened at $315.42 on Thursday. Axon Enterprise, Inc has a one year low of $291.45 and a one year high of $665.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.60 and a current ratio of 3.00. The stock's fifty day moving average is $426.24 and its 200-day moving average is $470.65. The company has a market capitalization of $25.68 billion, a PE ratio of 101.10, a P/E/G ratio of 5.75 and a beta of 1.48.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Thursday, November 5th. The biotechnology company reported $1.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.89 by ($0.17). Axon Enterprise had a return on equity of 3.87% and a net margin of 7.56%. The firm had revenue of $908.55 million for the quarter, compared to analyst estimates of $934.33 million. During the same period in the previous year, the firm earned $1.17 earnings per share. Axon Enterprise's revenue was up 27.8% on a year-over-year basis. On average, equities analysts predict that Axon Enterprise, Inc will post 2.10 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AXON shares. Barclays cut their target price on shares of Axon Enterprise from $688.00 to $507.00 and set an "overweight" rating on the stock in a report on Monday. Citigroup restated a "market outperform" rating on shares of Axon Enterprise in a research note on Monday, November 2nd. Needham & Company LLC dropped their target price on Axon Enterprise from $750.00 to $500.00 and set a "buy" rating on the stock in a research report on Friday, November 6th. Argus upped their price target on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Finally, Raymond James Financial set a $675.00 price objective on shares of Axon Enterprise in a report on Thursday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $612.18.

Axon Enterprise News Roundup

Here's some of the latest news about AXON:

• Positive Sentiment: Axon’s integrated public-safety hardware and software ecosystem, along with continued revenue growth, are cited as reasons it could remain a long-term growth company despite its 2026 share-price decline. 3 Superior Growth Stocks That Can Outperform for the Next 10 Years
• Neutral Sentiment: Axon is investing $1.2 billion for a 37% stake in drone maker Skydio and will distribute its products to U.S. public-safety customers. The deal could broaden Axon’s offering, but its sizeable cost makes the investment a factor for investors to weigh. Axon invests $1.2B into Skydio and becomes its U.S. public safety distributor
• Negative Sentiment: Several law firms have announced investigations into potential securities-law claims related to Axon’s earnings report. These are allegations under investigation, not findings of wrongdoing, but add a source of uncertainty for investors. Levi & Korsinsky investor investigation notice

Insider Buying and Selling at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the sale, the chief executive officer directly owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares in the company, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their position. 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 have sold 37,397 shares of company stock valued at $21,234,034 over the last quarter. Company insiders own 4.20% of the company's stock.

Axon Enterprise Company Profile

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals. The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.

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