M&T Bank Corp Acquires 4,491 Shares of Axon Enterprise, Inc $AXON

Key Points

• M&T Bank Corp boosted its stake in Axon by 82.3% in Q4, buying 4,491 shares to hold 9,945 shares valued at about $5.65 million.
• Axon beat expectations for the quarter with EPS of $2.15 versus $1.60 and revenue of $796.7M (up 38.5% year-over-year), indicating strong top-line growth.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and an average price target of $749.63, while institutional investors own roughly 79% of the stock.

M&T Bank Corp boosted its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 82.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,945 shares of the biotechnology company's stock after purchasing an additional 4,491 shares during the quarter. M&T Bank Corp's holdings in Axon Enterprise were worth $5,648,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wealthspan Partners LLC boosted its stake in Axon Enterprise by 14.7% in the 4th quarter. Wealthspan Partners LLC now owns 1,016 shares of the biotechnology company's stock worth $577,000 after purchasing an additional 130 shares during the period. SageGuard Financial Group LLC purchased a new position in shares of Axon Enterprise during the fourth quarter valued at about $303,000. Evergreen Capital Management LLC grew its position in shares of Axon Enterprise by 82.6% during the fourth quarter. Evergreen Capital Management LLC now owns 862 shares of the biotechnology company's stock valued at $490,000 after purchasing an additional 390 shares in the last quarter. GraniteShares Advisors LLC purchased a new position in shares of Axon Enterprise during the fourth quarter valued at about $839,000. Finally, TD Waterhouse Canada Inc. grew its position in shares of Axon Enterprise by 105.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,473 shares of the biotechnology company's stock valued at $1,972,000 after purchasing an additional 1,779 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Robert W. Baird set a $800.00 price objective on Axon Enterprise in a research report on Wednesday, February 25th. Citizens Jmp restated a "market outperform" rating and set a $825.00 price objective on shares of Axon Enterprise in a research report on Monday, April 13th. William Blair restated an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. UBS Group lowered their target price on Axon Enterprise from $610.00 to $570.00 and set a "neutral" rating for the company in a research report on Wednesday, February 25th. Finally, Wall Street Zen upgraded Axon Enterprise from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Sixteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and an average price target of $749.63.

Insider Transactions at Axon Enterprise

In related news, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction on Friday, February 27th. The stock was sold at an average price of $535.01, for a total value of $1,070,020.00. Following the completion of the sale, the insider directly owned 55,588 shares in the company, valued at $29,740,135.88. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeri Williams sold 157 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total value of $76,930.00. Following the completion of the sale, the director owned 1,159 shares of the company's stock, valued at approximately $567,910. This represents a 11.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,855 shares of company stock worth $7,109,828 in the last quarter. Company insiders own 4.40% of the company's stock.

Axon Enterprise Stock Up 1.1%

Shares of NASDAQ:AXON opened at $397.12 on Friday. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. The company has a 50-day moving average price of $456.49 and a 200 day moving average price of $543.01. The company has a market cap of $32.00 billion, a price-to-earnings ratio of 261.26, a PEG ratio of 8.38 and a beta of 1.61.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The firm had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. During the same quarter last year, the firm earned $2.08 EPS. The firm's revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, equities research analysts predict that Axon Enterprise, Inc will post 1.41 earnings per share for the current year.

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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