Public Employees Retirement System of Ohio Buys Shares of 22,075 Axon Enterprise, Inc $AXON

Key Points

• Public Employees Retirement System of Ohio bought 22,075 Axon Enterprise shares worth approximately $12.4 million in the second quarter. Institutional investors collectively own 79.08% of the company.
• Axon reported quarterly earnings of $1.88 per share, exceeding estimates by $0.04, while revenue rose 35.3% year over year to $904.39 million. The stock opened at $600.73, with a 52-week range of $339.01 to $792.16.
• Analysts maintain a generally positive view, with 13 Buy ratings and three Hold ratings, producing a “Moderate Buy” consensus and an average price target of $730.92. Meanwhile, insiders sold 75,401 shares worth about $40.7 million during the last quarter.

Public Employees Retirement System of Ohio purchased a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 22,075 shares of the biotechnology company's stock, valued at approximately $12,375,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MASTERINVEST Kapitalanlage GmbH purchased a new position in shares of Axon Enterprise during the 2nd quarter valued at $267,000. Pure Financial Advisors LLC purchased a new stake in shares of Axon Enterprise in the second quarter worth $331,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Axon Enterprise in the second quarter worth $3,256,000. Corient Private Wealth LP bought a new stake in Axon Enterprise during the second quarter valued at $4,763,000. Finally, Perennial Investment Advisors LLC bought a new stake in Axon Enterprise during the second quarter valued at $569,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axon Enterprise

In other news, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the sale, the executive owned 49,710 shares of the company's stock, valued at approximately $24,855,000. The trade was a 2.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $626.70, for a total value of $6,019,453.50. Following the sale, the insider owned 97,761 shares in the company, valued at $61,266,818.70. This represents a 8.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 75,401 shares of company stock worth $40,670,843. Corporate insiders own 4.20% of the company's stock.

Axon Enterprise Price Performance

AXON opened at $600.73 on Monday. The stock has a market cap of $48.80 billion, a PE ratio of 249.27, a P/E/G ratio of 9.75 and a beta of 1.39. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $792.16. The business's fifty day simple moving average is $560.75 and its 200 day simple moving average is $483.34.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. During the same period last year, the firm posted $2.12 earnings per share. The business's revenue was up 35.3% compared to the same quarter last year. As a group, research analysts expect that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley upped their target price on Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Citizens Jmp reissued a "market outperform" rating and set a $700.00 price objective on shares of Axon Enterprise in a report on Thursday, June 25th. JPMorgan Chase & Co. upped their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Axon Enterprise in a research note on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and a consensus target price of $730.92.

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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