Maryland State Retirement & Pension System Has $1.77 Million Stock Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Maryland State Retirement & Pension System reduced its stake in Axon Enterprise by 12.5%, now holding 3,356 shares valued at approximately $1.77 million.
• Institutional investors collectively own 79.08% of Axon Enterprise's stock, with notable increases in holdings from firms like Vanguard Group Inc. and Capital World Investors.
• Axon Enterprise's earnings were strong, reporting $2.12 EPS for the quarter, significantly exceeding estimates, and a revenue increase of 32.6% year-over-year.

Maryland State Retirement & Pension System reduced its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,356 shares of the biotechnology company's stock after selling 478 shares during the period. Maryland State Retirement & Pension System's holdings in Axon Enterprise were worth $1,765,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AXON. Capital World Investors boosted its holdings in Axon Enterprise by 86.4% in the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after purchasing an additional 841,772 shares during the period. GAMMA Investing LLC boosted its holdings in Axon Enterprise by 58,725.5% in the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares during the period. Jennison Associates LLC boosted its holdings in Axon Enterprise by 23,203.7% in the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after purchasing an additional 611,418 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Axon Enterprise by 29.8% in the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock worth $487,977,000 after purchasing an additional 212,931 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after purchasing an additional 185,571 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Trading Down 0.4%

NASDAQ AXON traded down $3.05 on Wednesday, hitting $765.52. 1,117,073 shares of the company were exchanged, compared to its average volume of 711,672. The company's 50 day moving average price is $775.67 and its 200-day moving average price is $667.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. The firm has a market capitalization of $60.10 billion, a P/E ratio of 189.02, a price-to-earnings-growth ratio of 30.05 and a beta of 1.36. Axon Enterprise, Inc has a twelve month low of $346.71 and a twelve month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The company had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same quarter in the prior year, the company earned $1.20 EPS. The firm's quarterly revenue was up 32.6% on a year-over-year basis. Analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AXON has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating on the stock. Northland Securities set a $800.00 price target on Axon Enterprise in a report on Tuesday, August 5th. JPMorgan Chase & Co. upped their price objective on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Barclays upped their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective for the company in a report on Tuesday, August 5th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $837.69.

Insider Transactions at Axon Enterprise

In related news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $738.84, for a total value of $960,492.00. Following the transaction, the director owned 4,829 shares in the company, valued at approximately $3,567,858.36. This represents a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Garnreiter sold 5,913 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total value of $4,493,880.00. Following the sale, the director directly owned 17,740 shares of the company's stock, valued at $13,482,400. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,185 shares of company stock valued at $24,126,378 in the last ninety days. 5.70% of the stock is currently owned by insiders.

Axon Enterprise 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.