Employees Retirement System of Texas Acquires Shares of 6,667 Axon Enterprise, Inc. (NASDAQ:AXON)

Employees Retirement System of Texas purchased a new stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,667 shares of the biotechnology company’s stock, valued at approximately $39,620,000.

Other large investors have also recently made changes to their positions in the company. Federated Hermes Inc. raised its holdings in Axon Enterprise by 25.8% in the 4th quarter. Federated Hermes Inc. now owns 339,063 shares of the biotechnology company’s stock valued at $201,514,000 after acquiring an additional 69,567 shares during the last quarter. Edgewood Management LLC acquired a new stake in Axon Enterprise in the 4th quarter valued at about $2,734,000. Peapack Gladstone Financial Corp increased its position in shares of Axon Enterprise by 38.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 1,222 shares of the biotechnology company’s stock valued at $726,000 after purchasing an additional 341 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Axon Enterprise by 2.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,198 shares of the biotechnology company’s stock worth $712,000 after buying an additional 25 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Axon Enterprise by 24.6% during the 4th quarter. Russell Investments Group Ltd. now owns 71,761 shares of the biotechnology company’s stock worth $42,769,000 after buying an additional 14,183 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Trading Down 7.9 %

Shares of AXON stock opened at $497.13 on Monday. The company has a market cap of $38.09 billion, a PE ratio of 128.46, a price-to-earnings-growth ratio of 5.17 and a beta of 1.13. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. Axon Enterprise, Inc. has a 12 month low of $273.52 and a 12 month high of $715.99. The business’s 50 day moving average is $582.26 and its two-hundred day moving average is $555.87.

Analysts Set New Price Targets

AXON has been the topic of a number of recent research reports. Barclays restated a “hold” rating on shares of Axon Enterprise in a research note on Monday, March 10th. Northcoast Research cut Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Craig Hallum cut shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. The Goldman Sachs Group upped their target price on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, TD Cowen initiated coverage on Axon Enterprise in a report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average target price of $604.67.

Insiders Place Their Bets

In related news, Director Jeri Williams sold 307 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $552.72, for a total value of $169,685.04. Following the completion of the sale, the director now owns 1,627 shares of the company’s stock, valued at $899,275.44. This trade represents a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 6.10% of the company’s stock.

Axon Enterprise Company 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.