Illinois Municipal Retirement Fund Reduces Stock Position in Axon Enterprise, Inc $AXON

Illinois Municipal Retirement Fund cut its position in Axon Enterprise, Inc (NASDAQ:AXON) by 47.9% during the third quarter, Holdings Channel reports. The firm owned 2,009 shares of the biotechnology company’s stock after selling 1,845 shares during the period. Illinois Municipal Retirement Fund’s holdings in Axon Enterprise were worth $1,442,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Axon Enterprise by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock valued at $7,399,515,000 after acquiring an additional 305,252 shares during the period. Geode Capital Management LLC raised its holdings in shares of Axon Enterprise by 5.9% during the second quarter. Geode Capital Management LLC now owns 2,072,186 shares of the biotechnology company’s stock worth $1,713,332,000 after purchasing an additional 115,349 shares during the last quarter. Jennison Associates LLC lifted its position in Axon Enterprise by 53.8% during the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock valued at $677,412,000 after purchasing an additional 330,213 shares during the period. Vestor Capital LLC boosted its holdings in Axon Enterprise by 438,636.3% in the second quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock valued at $690,170,000 after purchasing an additional 833,409 shares during the last quarter. Finally, Norges Bank acquired a new stake in Axon Enterprise during the 2nd quarter worth about $637,806,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Trading Up 0.5%

Shares of NASDAQ:AXON opened at $431.94 on Wednesday. The business’s 50 day moving average price is $552.80 and its 200-day moving average price is $642.97. Axon Enterprise, Inc has a 1 year low of $396.41 and a 1 year high of $885.91. The firm has a market capitalization of $34.08 billion, a price-to-earnings ratio of 136.69, a price-to-earnings-growth ratio of 12.94 and a beta of 1.48. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AXON shares. Morgan Stanley decreased their price objective on Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Wall Street Zen downgraded Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research note on Monday, December 29th. Barclays cut their target price on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $805.71.

Insiders Place Their Bets

In related news, CFO Brittany Bagley sold 2,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $580.00, for a total transaction of $1,160,000.00. Following the completion of the transaction, the chief financial officer owned 103,501 shares in the company, valued at $60,030,580. This represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $552.60, for a total value of $11,052,000.00. Following the completion of the sale, the president owned 249,502 shares in the company, valued at approximately $137,874,805.20. The trade was a 7.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 48,040 shares of company stock valued at $27,249,338. 5.70% 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.