Axon Enterprise, Inc $AXON Stake Increased by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Axon Enterprise, Inc by 20.8%, now holding 27,102 shares valued at approximately $22.44 million.
• Several other institutional investors have also raised their stakes, with TCTC Holdings increasing by 75% and Bartlett & CO. Wealth Management increasing by 132% in the first quarter.
• Axon Enterprise reported earnings of $2.12 per share for the last quarter, exceeding expectations and showing a revenue increase of 32.6% year-over-year.

Public Employees Retirement System of Ohio increased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 20.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,102 shares of the biotechnology company's stock after buying an additional 4,659 shares during the period. Public Employees Retirement System of Ohio's holdings in Axon Enterprise were worth $22,439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC increased its stake in shares of Axon Enterprise by 75.0% in the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after buying an additional 24 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its stake in shares of Axon Enterprise by 132.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after buying an additional 33 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Axon Enterprise in the first quarter worth $32,000. Banque Transatlantique SA acquired a new position in Axon Enterprise in the first quarter worth $31,000. Finally, Flaharty Asset Management LLC acquired a new position in Axon Enterprise in the first quarter worth $33,000. Institutional investors own 79.08% of the company's stock.

Insider Activity at Axon Enterprise

In other news, Director Hadi Partovi purchased 1,358 shares of Axon Enterprise stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $740.00 per share, with a total value of $1,004,920.00. Following the completion of the acquisition, the director owned 237,938 shares in the company, valued at $176,074,120. The trade was a 0.57% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua Isner sold 15,919 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the transaction, the president directly owned 238,379 shares of the company's stock, valued at approximately $177,892,712.54. This trade represents a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,932 shares of company stock valued at $34,408,816. Company insiders own 4.40% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON opened at $712.15 on Friday. Axon Enterprise, Inc has a 1 year low of $388.37 and a 1 year high of $885.91. The company has a market cap of $55.90 billion, a price-to-earnings ratio of 175.84, a price-to-earnings-growth ratio of 25.62 and a beta of 1.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The firm has a fifty day moving average of $759.55 and a 200-day moving average of $700.33.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The company had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. During the same quarter in the previous year, the company posted $1.20 earnings per share. The company's revenue for the quarter was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on AXON shares. UBS Group reaffirmed a "neutral" rating and issued a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Zacks Research downgraded shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Morgan Stanley set a $885.00 price objective on shares of Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. JMP Securities lifted their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 22nd. Finally, Wolfe Research started coverage on shares of Axon Enterprise in a report on Monday, July 7th. They issued an "outperform" rating for the company. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Axon Enterprise presently has an average rating of "Moderate Buy" and an average price target of $841.64.

Axon Enterprise Company Profile

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.

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