Strs Ohio Takes Position in Axon Enterprise, Inc $AXON

Key Points

• Strs Ohio has initiated a new position in Axon Enterprise, Inc by acquiring 86,064 shares valued at approximately $45.26 million, representing about 0.11% of the company.
• Several research firms have upgraded their ratings for Axon, with Raymond James setting a new price target of $855.00 and analysts collectively rating the stock as a Moderate Buy.
• Insider trading activity includes CEO Patrick W. Smith selling 10,000 shares for around $7.44 million, while Director Hadi Partovi bought 1,358 shares for about $1 million.

Strs Ohio purchased a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 86,064 shares of the biotechnology company's stock, valued at approximately $45,265,000. Strs Ohio owned 0.11% of Axon Enterprise at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. TCTC Holdings LLC increased its holdings in Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 24 shares during the period. Fourth Dimension Wealth LLC purchased a new position in Axon Enterprise during the 4th quarter valued at about $30,000. Bartlett & CO. Wealth Management LLC increased its holdings in Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 33 shares during the period. Banque Transatlantique SA purchased a new position in Axon Enterprise during the 1st quarter valued at about $31,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Axon Enterprise during the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

AXON has been the topic of a number of research analyst reports. Bank of America upped their target price on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Craig Hallum upgraded Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a report on Tuesday, August 5th. Zacks Research downgraded Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Wolfe Research initiated coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating on the stock. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $837.69.

Insiders Place Their Bets

In other Axon Enterprise news, Director Hadi Partovi bought 1,358 shares of Axon Enterprise stock in a transaction on Wednesday, August 13th. The stock was acquired at an average price of $740.00 per share, with a total value of $1,004,920.00. Following the acquisition, the director owned 237,938 shares in the company, valued at approximately $176,074,120. This trade represents a 0.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Joshua Isner sold 15,919 shares of Axon Enterprise stock in a transaction on Friday, August 15th. The stock was sold at an average price of $746.26, for a total value of $11,879,712.94. Following the completion of the sale, the president directly owned 238,379 shares of the company's stock, valued at approximately $177,892,712.54. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,790 shares of company stock worth $34,304,947. 5.70% of the stock is owned by corporate insiders.

Axon Enterprise Stock Up 0.7%

Shares of AXON traded up $5.02 during mid-day trading on Friday, reaching $756.13. The company had a trading volume of 303,694 shares, compared to its average volume of 447,052. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The firm has a 50-day moving average price of $761.10 and a 200 day moving average price of $688.38. Axon Enterprise, Inc has a 52 week low of $375.71 and a 52 week high of $885.91. The company has a market capitalization of $59.36 billion, a price-to-earnings ratio of 186.70, a price-to-earnings-growth ratio of 27.75 and a beta of 1.40.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. The firm had revenue of $668.54 million for the quarter, compared to analysts' expectations of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The business's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. 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.

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.