New York State Common Retirement Fund Decreases Stake in Axon Enterprise, Inc (NASDAQ:AXON)

New York State Common Retirement Fund decreased its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,239 shares of the biotechnology company's stock after selling 1,200 shares during the quarter. New York State Common Retirement Fund's holdings in Axon Enterprise were worth $19,060,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in Axon Enterprise during the 4th quarter worth approximately $480,000. Natixis Advisors LLC boosted its stake in Axon Enterprise by 2.8% in the 4th quarter. Natixis Advisors LLC now owns 31,251 shares of the biotechnology company's stock worth $18,573,000 after purchasing an additional 859 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Axon Enterprise by 0.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,900 shares of the biotechnology company's stock valued at $2,912,000 after buying an additional 41 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Axon Enterprise by 16.3% during the 4th quarter. Corient Private Wealth LLC now owns 8,182 shares of the biotechnology company's stock valued at $4,863,000 after buying an additional 1,146 shares in the last quarter. Finally, Cibc World Markets Corp raised its position in shares of Axon Enterprise by 35.1% during the fourth quarter. Cibc World Markets Corp now owns 13,118 shares of the biotechnology company's stock valued at $7,796,000 after buying an additional 3,406 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Insider Activity

In related news, President Joshua Isner sold 905 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total value of $702,632.95. Following the completion of the transaction, the president owned 268,735 shares in the company, valued at $208,643,166.65. This trade represents a 0.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction dated 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. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,642 shares of company stock worth $30,500,428. Company insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price objective on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the company an "overweight" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. lifted their target price on Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday. Barclays increased their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Bank of America lifted 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $763.75.

Axon Enterprise Stock Up 1.4%

NASDAQ AXON traded up $10.23 during midday trading on Friday, hitting $756.09. 404,179 shares of the company traded hands, compared to its average volume of 602,176. Axon Enterprise, Inc has a 52 week low of $279.02 and a 52 week high of $830.21. The company's 50-day simple moving average is $763.54 and its 200-day simple moving average is $645.97. The company has a market cap of $58.86 billion, a PE ratio of 182.63, a price-to-earnings-growth ratio of 87.03 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62.

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