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

Key Points

• New York State Teachers Retirement System trimmed its stake in Axon by 5.4% in Q4, selling 3,363 shares and now holds 59,253 shares (about 0.08%) valued at $33.65 million, while institutional investors own roughly 79.08% of the company.
• Axon carries a consensus analyst rating of "Moderate Buy" with an average price target of $749.63 (16 Buys, 2 Holds, 1 Sell), and several firms setting targets in the $742–$825 range.
• The company beat quarterly estimates—EPS $2.15 vs $1.60 expected and revenue $796.7M vs $755.3M—marking 38.5% year‑over‑year revenue growth, even as the stock trades well below its 12‑month high (opened at $402.31 vs high $885.91).

New York State Teachers Retirement System lowered its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,253 shares of the biotechnology company's stock after selling 3,363 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Axon Enterprise worth $33,652,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AXON. Brighton Jones LLC purchased a new stake in shares of Axon Enterprise during the fourth quarter worth about $480,000. NewEdge Advisors LLC grew its position in shares of Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock worth $1,207,000 after purchasing an additional 668 shares in the last quarter. Empowered Funds LLC grew its position in shares of Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock worth $1,067,000 after purchasing an additional 157 shares in the last quarter. Woodline Partners LP grew its position in shares of Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock worth $3,646,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in shares of Axon Enterprise during the second quarter worth about $284,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Analysts Set New Price Targets

AXON has been the subject of a number of research reports. Northcoast Research raised Axon Enterprise from a "neutral" rating to a "buy" rating and set a $742.00 price target for the company in a research note on Tuesday, January 6th. Morgan Stanley reissued an "overweight" rating on shares of Axon Enterprise in a research note on Wednesday, April 8th. Citizens Jmp reissued a "market outperform" rating and set a $825.00 price target on shares of Axon Enterprise in a research note on Monday, April 13th. TD Cowen dropped their price target on Axon Enterprise from $950.00 to $825.00 and set a "buy" rating for the company in a research note on Wednesday, April 8th. Finally, Robert W. Baird set a $800.00 price target on Axon Enterprise in a research note on Wednesday, February 25th. Sixteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Axon Enterprise currently has a consensus rating of "Moderate Buy" and an average price target of $749.63.

Insiders Place Their Bets

In other news, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $535.01, for a total value of $1,070,020.00. Following the completion of the sale, the insider directly owned 55,588 shares of the company's stock, valued at $29,740,135.88. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeri Williams sold 157 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $490.00, for a total value of $76,930.00. Following the completion of the sale, the director directly owned 1,159 shares of the company's stock, valued at $567,910. The trade was a 11.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 13,855 shares of company stock worth $7,109,828. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $402.31 on Friday. The stock has a 50 day moving average of $454.05 and a 200 day moving average of $535.39. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. The firm has a market cap of $32.41 billion, a PE ratio of 264.68, a PEG ratio of 8.57 and a beta of 1.61. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.55. The business had revenue of $796.72 million during the quarter, compared to analyst estimates of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The company's revenue for the quarter was up 38.5% on a year-over-year basis. During the same period last year, the company earned $2.08 EPS. On average, research analysts expect that Axon Enterprise, Inc will post 1.41 EPS for the current fiscal year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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