New York State Teachers Retirement System Cuts Position in Axon Enterprise, Inc $AXON

Key Points

• The New York State Teachers Retirement System reduced its stake in Axon Enterprise, Inc by 0.8%, now owning about 63,807 shares valued at approximately $52.8 million.
• Insider sales included President Joshua Isner selling over 15,900 shares for nearly $11.9 million and CFO Brittany Bagley selling 5,000 shares for approximately $3.6 million.
• Axon Enterprise reported a significant year-over-year earnings increase, with $2.12 EPS for the quarter, surpassing analyst expectations and indicating robust 32.6% revenue growth.

New York State Teachers Retirement System cut its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,807 shares of the biotechnology company's stock after selling 534 shares during the period. New York State Teachers Retirement System owned about 0.08% of Axon Enterprise worth $52,828,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXON. TCTC Holdings LLC grew its position in 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 acquiring an additional 24 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its position in Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after buying an additional 33 shares during the period. Banque Transatlantique SA purchased a new stake in Axon Enterprise during the first quarter valued at about $31,000. Catalyst Capital Advisors LLC purchased a new stake in Axon Enterprise during the first quarter valued at about $32,000. Finally, Flaharty Asset Management LLC purchased a new stake in Axon Enterprise during the first quarter valued at about $33,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axon Enterprise news, President Joshua Isner sold 15,919 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $746.26, for a total value of $11,879,712.94. Following the sale, the president owned 238,379 shares in the company, valued at approximately $177,892,712.54. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brittany Bagley sold 5,000 shares of the company's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the completion of the sale, the chief financial officer owned 93,592 shares in the company, valued at approximately $66,813,456.96. This trade represents a 5.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,932 shares of company stock valued at $45,115,616. Insiders own 4.40% of the company's stock.

Axon Enterprise Price Performance

AXON stock opened at $652.17 on Friday. Axon Enterprise, Inc has a 1 year low of $422.38 and a 1 year high of $885.91. The company has a market cap of $51.20 billion, a P/E ratio of 161.03, a PEG ratio of 25.05 and a beta of 1.41. The firm has a 50-day moving average of $742.88 and a 200 day moving average of $716.37. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. The business had revenue of $668.54 million for the quarter, compared to analysts' expectations of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business's revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AXON. JMP Securities reaffirmed a "market outperform" rating and set a $825.00 price objective on shares of Axon Enterprise in a research note on Monday, September 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $870.00 price objective on shares of Axon Enterprise in a research note on Wednesday, September 24th. Wolfe Research began coverage on shares of Axon Enterprise in a research note on Monday, July 7th. They set an "outperform" rating for the company. JPMorgan Chase & Co. upped their price objective on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Zacks Research downgraded shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $841.64.

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.

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