Strs Ohio Purchases 4,503 Shares of Axon Enterprise, Inc $AXON

Key Points

• Strs Ohio increased its Axon stake by 12.9%, buying 4,503 shares to hold 39,287 shares worth about $22.31 million, and institutional investors now own roughly 79.08% of the stock.
• Axon reported an earnings beat with EPS $2.15 vs $1.60 expected and revenue of $796.7M, up 38.5% year-over-year, signaling stronger-than-expected growth for the quarter.
• Analysts' consensus is a Moderate Buy with a $749.63 average target despite several recent price-target cuts; AXON trades near $402 with a market cap of about $32.4B and a 52-week range of $339.01–$885.91.

Strs Ohio grew its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 12.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,287 shares of the biotechnology company's stock after buying an additional 4,503 shares during the period. Strs Ohio's holdings in Axon Enterprise were worth $22,312,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AXON. Brighton Jones LLC bought a new stake in shares of Axon Enterprise in the 4th quarter valued at about $480,000. NewEdge Advisors LLC boosted its holdings in shares of Axon Enterprise by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock valued at $1,207,000 after buying an additional 668 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Axon Enterprise by 8.4% in the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock valued at $1,067,000 after buying an additional 157 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock valued at $3,646,000 after buying an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in shares of Axon Enterprise in the 2nd quarter valued at about $284,000. 79.08% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

AXON has been the topic of a number of recent analyst reports. Robert W. Baird set a $800.00 price target on shares of Axon Enterprise in a report on Wednesday, February 25th. Piper Sandler lowered their price target on shares of Axon Enterprise from $753.00 to $690.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. Barclays lowered their price target on shares of Axon Enterprise from $702.00 to $682.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. William Blair restated an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, February 3rd. Finally, UBS Group lowered their price target on shares of Axon Enterprise from $610.00 to $570.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Sixteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Axon Enterprise currently has a consensus rating of "Moderate Buy" and a consensus target price of $749.63.

Axon Enterprise Price Performance

AXON stock opened at $402.31 on Monday. The firm has a 50 day moving average of $454.05 and a 200 day moving average of $532.97. The stock has a market capitalization of $32.41 billion, a PE ratio of 264.68, a price-to-earnings-growth ratio of 8.59 and a beta of 1.44. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91.

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

Insider Buying and Selling

In related news, insider Isaiah Fields sold 2,000 shares of Axon Enterprise stock in a transaction that occurred on Friday, February 27th. The shares were 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 in the company, 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, CAO Jennifer H. Mak sold 1,500 shares of Axon Enterprise stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total transaction of $860,175.00. Following the completion of the sale, the chief accounting officer owned 12,240 shares of the company's stock, valued at $7,019,028. This trade represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,855 shares of company stock worth $7,109,828 over the last ninety days. Company insiders own 5.70% of the company's stock.

Axon Enterprise Company 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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