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

Illinois Municipal Retirement Fund decreased its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 47.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AXON. Stone House Investment Management LLC purchased a new stake in Axon Enterprise in the 3rd quarter valued at about $29,000. Whipplewood Advisors LLC grew its stake in Axon Enterprise by 192.9% in the second quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 27 shares in the last quarter. Root Financial Partners LLC purchased a new position in Axon Enterprise during the 3rd quarter worth $34,000. Darwin Wealth Management LLC bought a new stake in Axon Enterprise during the 2nd quarter valued at $37,000. Finally, NewSquare Capital LLC lifted its holdings in shares of Axon Enterprise by 96.2% in the 2nd quarter. NewSquare Capital LLC now owns 51 shares of the biotechnology company’s stock worth $42,000 after buying an additional 25 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Price Performance

Shares of AXON opened at $431.94 on Wednesday. The company has a 50 day moving average of $552.80 and a two-hundred day moving average of $642.97. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57. Axon Enterprise, Inc has a twelve month low of $396.41 and a twelve month high of $885.91. The company has a market cap 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.

Insider Activity

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 1,797 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $539.23, for a total value of $968,996.31. Following the completion of the sale, the insider owned 83,485 shares of the company’s stock, valued at approximately $45,017,616.55. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer H. Mak sold 1,134 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $600.00, for a total transaction of $680,400.00. Following the transaction, the chief accounting officer owned 13,740 shares in the company, valued at approximately $8,244,000. This trade represents a 7.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,040 shares of company stock worth $27,249,338 over the last quarter. Company insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AXON. The Goldman Sachs Group decreased their price objective on Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Wall Street Zen cut shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Barclays dropped their price objective on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Finally, UBS Group dropped their target price on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $805.71.

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.