California Public Employees Retirement System lifted its holdings in shares of Axon Enterprise Inc (NASDAQ:AAXN) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,100 shares of the industrial products company’s stock after acquiring an additional 2,300 shares during the period. California Public Employees Retirement System owned 0.26% of Axon Enterprise worth $3,713,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in AAXN. OxFORD Asset Management LLP purchased a new position in Axon Enterprise in the 3rd quarter valued at $6,655,000. Stephens Investment Management Group LLC grew its position in Axon Enterprise by 23.1% in the 3rd quarter. Stephens Investment Management Group LLC now owns 939,629 shares of the industrial products company’s stock valued at $21,301,000 after buying an additional 176,169 shares during the last quarter. Cortina Asset Management LLC grew its position in Axon Enterprise by 48.4% in the 3rd quarter. Cortina Asset Management LLC now owns 325,681 shares of the industrial products company’s stock valued at $7,383,000 after buying an additional 106,282 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in Axon Enterprise in the 3rd quarter valued at $2,089,000. Finally, Comerica Bank purchased a new position in Axon Enterprise in the 3rd quarter valued at $1,278,000. Institutional investors and hedge funds own 95.87% of the company’s stock.
Shares of NASDAQ:AAXN traded down $1.02 during midday trading on Friday, hitting $41.84. 967,239 shares of the stock were exchanged, compared to its average volume of 869,328. The company has a market capitalization of $2,230.36, a PE ratio of 154.96, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. Axon Enterprise Inc has a twelve month low of $20.57 and a twelve month high of $43.16.
Axon Enterprise (NASDAQ:AAXN) last released its quarterly earnings results on Tuesday, February 27th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.21. The business had revenue of $94.65 million during the quarter, compared to the consensus estimate of $87.88 million. Axon Enterprise had a return on equity of 8.17% and a net margin of 1.59%. equities analysts forecast that Axon Enterprise Inc will post 0.39 EPS for the current year.
A number of research firms recently weighed in on AAXN. Northland Securities began coverage on shares of Axon Enterprise in a research report on Thursday, March 29th. They issued an “outperform” rating on the stock. Imperial Capital reiterated an “in-line” rating and issued a $38.00 price objective (up from $25.00) on shares of Axon Enterprise in a research report on Tuesday, March 20th. CL King lowered shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Friday, March 16th. They noted that the move was a valuation call. BidaskClub downgraded Axon Enterprise from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 6th. Finally, Sidoti downgraded Axon Enterprise from a “buy” rating to a “neutral” rating and set a $40.00 target price for the company. in a report on Monday, March 5th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Axon Enterprise currently has a consensus rating of “Buy” and an average price target of $38.00.
In related news, President Luke Larson sold 36,105 shares of Axon Enterprise stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $36.62, for a total transaction of $1,322,165.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Joshua Isner sold 9,301 shares of Axon Enterprise stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $36.34, for a total value of $337,998.34. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
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About Axon Enterprise
Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.
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