State of New Jersey Common Pension Fund D Trims Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• The State of New Jersey Common Pension Fund D decreased its stake in Axon Enterprise, Inc by 6.5% in the 1st quarter, now holding 24,863 shares worth approximately $13.08 million.
• Notable institutional investors like Vanguard Group and Capital World Investors have increased their stakes, with Vanguard now owning over 8.6 million shares valued at around $4.54 billion.
• Axon Enterprise reported earnings of $2.12 per share in its last quarter, exceeding analyst estimates of $1.54 and reflecting a 32.6% increase in revenue year-over-year with total revenue of $668.54 million.

State of New Jersey Common Pension Fund D lowered its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,863 shares of the biotechnology company's stock after selling 1,721 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Axon Enterprise were worth $13,077,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AXON. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Axon Enterprise in the 1st quarter worth about $1,110,000. Quotient Wealth Partners LLC purchased a new stake in shares of Axon Enterprise during the 1st quarter worth approximately $438,000. CX Institutional purchased a new position in Axon Enterprise in the first quarter valued at approximately $115,000. GAMMA Investing LLC increased its position in Axon Enterprise by 11.8% in the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock worth $765,000 after buying an additional 154 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in Axon Enterprise by 5.1% in the first quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock worth $494,000 after buying an additional 46 shares during the last quarter. Institutional investors own 79.08% of the company's stock.

Insider Activity

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the transaction, the insider directly owned 144,538 shares of the company's stock, valued at approximately $108,417,953.80. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Garnreiter sold 5,913 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total transaction 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. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,695 shares of company stock worth $40,964,638. Insiders own 5.70% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AXON. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an "overweight" rating in a research note on Friday, July 11th. JMP Securities upped their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Wolfe Research started coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating for the company. Finally, Needham & Company LLC set a $870.00 price target on shares of Axon Enterprise and gave the company a "buy" rating in a research report on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $837.69.

Axon Enterprise Stock Down 4.2%

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

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter last year, the firm posted $1.20 EPS. The business's quarterly revenue was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. Equities analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Axon Enterprise Profile

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.