Louisiana State Employees Retirement System Acquires New Stake in Axon Enterprise, Inc $AXON

Louisiana State Employees Retirement System bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 9,300 shares of the biotechnology company’s stock, valued at approximately $3,950,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in shares of Axon Enterprise during the 2nd quarter valued at about $37,000. Creative Financial Designs Inc. ADV bought a new stake in Axon Enterprise during the fourth quarter valued at approximately $28,000. Sound Income Strategies LLC increased its holdings in Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 44 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in Axon Enterprise during the fourth quarter valued at approximately $30,000. Finally, AlphaCentric Advisors LLC bought a new position in Axon Enterprise in the fourth quarter worth approximately $34,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $465.12 on Friday. The stock’s 50-day simple moving average is $420.65 and its 200-day simple moving average is $482.08. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91. The company has a market capitalization of $37.49 billion, a price-to-earnings ratio of 186.79, a PEG ratio of 8.45 and a beta of 1.45. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm’s revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the business posted $1.47 earnings per share. As a group, analysts expect that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

AXON has been the subject of a number of recent research reports. TD Cowen cut their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Morgan Stanley set a $600.00 target price on Axon Enterprise in a report on Thursday, May 7th. Citizens Jmp reiterated a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a research report on Thursday. UBS Group cut their price target on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, Zacks Research upgraded Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $712.75.

Insiders Place Their Bets

In other Axon Enterprise news, CRO Cameron Brooks sold 1,242 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the completion of the transaction, the executive directly owned 49,710 shares in the company, valued at $24,855,000. This represents a 2.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the sale, the chief executive officer directly owned 3,060,997 shares of the company’s stock, valued at approximately $1,530,498,500. This trade represents a 0.65% 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. Insiders sold a total of 38,989 shares of company stock worth $19,090,083 over the last ninety days. 4.20% of the stock is owned by company insiders.

About Axon Enterprise

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.