Employees Retirement System of Texas Makes New $3.96 Million Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

Employees Retirement System of Texas acquired a new position in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,667 shares of the biotechnology company's stock, valued at approximately $3,962,000.

A number of other institutional investors and hedge funds have also modified their holdings of AXON. Fourth Dimension Wealth LLC purchased a new position in shares of Axon Enterprise during the 4th quarter valued at $30,000. New Wave Wealth Advisors LLC acquired a new stake in Axon Enterprise during the fourth quarter valued at $40,000. Y.D. More Investments Ltd purchased a new position in Axon Enterprise in the fourth quarter valued at about $45,000. Elequin Capital LP purchased a new position in Axon Enterprise in the fourth quarter valued at about $46,000. Finally, Stonebridge Financial Group LLC acquired a new position in Axon Enterprise in the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Activity at Axon Enterprise

In related news, CFO Brittany Bagley sold 3,400 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total value of $2,380,000.00. Following the completion of the sale, the chief financial officer now owns 131,833 shares in the company, valued at $92,283,100. This represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $540.99, for a total value of $5,409,900.00. Following the sale, the chief executive officer now directly owns 3,063,982 shares in the company, valued at $1,657,583,622.18. The trade was a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,969 shares of company stock worth $23,127,314 over the last ninety days. Company insiders own 5.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JMP Securities reissued an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Northcoast Research cut shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. Craig Hallum lowered shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. The Goldman Sachs Group raised their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $652.73.

Axon Enterprise Price Performance

AXON traded up $13.34 during trading on Friday, hitting $743.63. The company's stock had a trading volume of 1,121,061 shares, compared to its average volume of 732,673. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $57.89 billion, a price-to-earnings ratio of 192.15, a price-to-earnings-growth ratio of 5.17 and a beta of 1.24. The firm's 50 day moving average price is $620.57 and its two-hundred day moving average price is $610.50. Axon Enterprise, Inc. has a 12 month low of $273.52 and a 12 month high of $755.05.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.07. The firm had revenue of $603.63 million during the quarter, compared to analysts' expectations of $585.67 million. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. Axon Enterprise's revenue was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 EPS. Sell-side analysts forecast that Axon Enterprise, Inc. will post 5.8 earnings per share for the current fiscal year.

About Axon Enterprise

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.