Maryland State Retirement & Pension System Reduces Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Maryland State Retirement & Pension System cut its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,834 shares of the biotechnology company’s stock after selling 268 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Axon Enterprise were worth $2,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXON. Prestige Wealth Management Group LLC lifted its holdings in shares of Axon Enterprise by 115.8% in the third quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock worth $33,000 after buying an additional 44 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in Axon Enterprise during the fourth quarter valued at approximately $40,000. Brooklyn Investment Group bought a new position in Axon Enterprise during the third quarter valued at approximately $41,000. Y.D. More Investments Ltd bought a new position in Axon Enterprise during the fourth quarter valued at approximately $45,000. Finally, Stonebridge Financial Group LLC bought a new position in Axon Enterprise during the fourth quarter valued at approximately $53,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Axon Enterprise news, Director Jeri Williams sold 307 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the sale, the director now directly owns 1,627 shares in the company, valued at $899,275.44. The trade was a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey C. Kunins sold 1,035 shares of Axon Enterprise stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $624.47, for a total value of $646,326.45. Following the transaction, the insider now directly owns 124,243 shares in the company, valued at approximately $77,586,026.21. The trade was a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,792 shares of company stock worth $1,087,843. 5.70% of the stock is owned by corporate insiders.

Axon Enterprise Price Performance

NASDAQ AXON opened at $558.41 on Friday. Axon Enterprise, Inc. has a one year low of $273.52 and a one year high of $715.99. The stock has a 50-day moving average of $592.10 and a 200 day moving average of $539.60. The company has a market capitalization of $42.79 billion, a price-to-earnings ratio of 144.29, a PEG ratio of 5.17 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JMP Securities reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Barclays reaffirmed a “hold” rating on shares of Axon Enterprise in a research note on Monday, March 10th. Needham & Company LLC reissued a “buy” rating and set a $600.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 26th. Finally, TD Cowen started coverage on Axon Enterprise in a research report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average price target of $604.67.

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.