Kentucky Retirement Systems Insurance Trust Fund Purchases New Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,110 shares of the biotechnology company's stock, valued at approximately $1,110,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Axon Enterprise by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company's stock worth $5,019,886,000 after acquiring an additional 275,959 shares during the period. Geode Capital Management LLC boosted its position in shares of Axon Enterprise by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company's stock worth $1,095,542,000 after purchasing an additional 65,097 shares during the last quarter. Capital World Investors grew its stake in shares of Axon Enterprise by 86.4% during 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. Alliancebernstein L.P. grew its stake in shares of Axon Enterprise by 273.8% during the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock worth $659,128,000 after purchasing an additional 812,337 shares during the period. Finally, Norges Bank bought a new stake in Axon Enterprise in the fourth quarter valued at about $482,081,000. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Down 1.2%

Shares of AXON stock traded down $9.18 during trading hours on Wednesday, hitting $785.07. 440,266 shares of the company were exchanged, compared to its average volume of 547,253. Axon Enterprise, Inc has a 52 week low of $279.02 and a 52 week high of $806.64. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average of $704.90 and a two-hundred day moving average of $628.19. The company has a market capitalization of $61.12 billion, a PE ratio of 189.63, a PEG ratio of 91.43 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The firm had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. During the same period in the prior year, the business earned $1.15 EPS. The company's revenue for the quarter was up 31.3% compared to the same quarter last year. Analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the completion of the transaction, the chief executive officer now owns 3,063,982 shares of the company's stock, valued at $1,657,583,622.18. This represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Joshua Isner sold 905 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total transaction of $702,632.95. Following the completion of the sale, the president now directly owns 268,735 shares in the company, valued at approximately $208,643,166.65. This represents a 0.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,642 shares of company stock valued at $30,500,428. 4.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays raised their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. The Goldman Sachs Group increased their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Bank of America boosted their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Craig Hallum downgraded shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. Finally, Needham & Company LLC lifted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $699.55.

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.