Axon Enterprise, Inc $AXON Shares Bought by Public Sector Pension Investment Board

Key Points

• Public Sector Pension Investment Board increased its stake in Axon Enterprise, Inc by 8.4%, owning 9,897 shares valued at approximately $5.21 million.
• Axon Enterprise reported a 32.6% year-over-year revenue growth, with earnings per share of $2.12, surpassing analysts' estimates of $1.54.
• Analysts have a consensus rating of "Moderate Buy" for Axon, with price targets varying from $735.00 to $1,000.00.

Public Sector Pension Investment Board raised its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,897 shares of the biotechnology company's stock after acquiring an additional 769 shares during the period. Public Sector Pension Investment Board's holdings in Axon Enterprise were worth $5,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Axon Enterprise by 2.2% during the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after purchasing an additional 185,571 shares during the last quarter. Capital World Investors raised its holdings 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 last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock worth $487,977,000 after purchasing an additional 212,931 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares during the last quarter. Finally, Northern Trust Corp grew its position in Axon Enterprise by 19.8% during the fourth quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock valued at $426,083,000 after buying an additional 118,469 shares during the period. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Trading Down 4.2%

Shares of Axon Enterprise stock traded down $33.33 on Tuesday, reaching $758.29. The company had a trading volume of 652,727 shares, compared to its average volume of 816,362. The firm's 50 day moving average price is $773.92 and its two-hundred day moving average price is $671.99. The firm has a market cap of $59.53 billion, a PE ratio of 187.23, a PEG ratio of 29.05 and a beta of 1.36. Axon Enterprise, Inc has a 52-week low of $346.71 and a 52-week high of $885.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95.

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

Insider Activity

In related news, President Joshua Isner sold 15,919 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the sale, the president directly owned 238,379 shares of the company's stock, valued at $177,892,712.54. This represents a 6.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer H. Mak sold 75 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $771.81, for a total transaction of $57,885.75. Following the completion of the sale, the chief accounting officer directly owned 15,240 shares in the company, valued at approximately $11,762,384.40. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,695 shares of company stock worth $40,964,638 over the last 90 days. Company insiders own 5.70% of the company's stock.

Analysts Set New Price Targets

AXON has been the topic of several analyst reports. JMP Securities raised their price target on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 22nd. Bank of America raised their price target on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group raised 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. Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target on the stock in a research report on Tuesday, August 5th. Finally, UBS Group restated a "neutral" rating and set a $840.00 price target (up previously from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $837.69.

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.