Bank of New York Mellon Corp Grows Holdings in Axon Enterprise, Inc $AXON

Bank of New York Mellon Corp boosted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 730,899 shares of the biotechnology company's stock after purchasing an additional 22,068 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.91% of Axon Enterprise worth $409,750,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Axon Enterprise by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock worth $5,319,928,000 after purchasing an additional 53,060 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Axon Enterprise by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company's stock worth $1,265,657,000 after buying an additional 35,544 shares during the last quarter. Sands Capital Management LLC increased its stake in Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock worth $914,047,000 after buying an additional 167,095 shares in the last quarter. Wellington Management Group LLP increased its stake in Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock worth $874,463,000 after buying an additional 1,179,038 shares in the last quarter. Finally, Edgewood Management LLC acquired a new position in shares of Axon Enterprise during the fourth quarter valued at approximately $846,516,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $627.75 on Friday. The company's 50 day simple moving average is $543.11 and its 200-day simple moving average is $476.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $794.29. The company has a market capitalization of $51.00 billion, a price-to-earnings ratio of 260.48, a price-to-earnings-growth ratio of 9.97 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm's revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 EPS. As a group, equities research analysts expect that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 9,930 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $548.77, for a total transaction of $5,449,286.10. Following the sale, the chief executive officer directly owned 3,031,067 shares in the company, valued at approximately $1,663,358,637.59. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the sale, the insider directly owned 34,024 shares in the company, valued at approximately $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 66,989 shares of company stock worth $35,216,932 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AXON shares. Zacks Research downgraded Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Barclays boosted their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Needham & Company LLC restated a "buy" rating on shares of Axon Enterprise in a report on Thursday, August 6th. TD Cowen reaffirmed a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $730.92.

Axon Enterprise Profile

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.

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