M&T Bank Corp Buys 1,344 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

M&T Bank Corp increased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 31.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,606 shares of the biotechnology company's stock after purchasing an additional 1,344 shares during the period. M&T Bank Corp's holdings in Axon Enterprise were worth $2,948,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Axon Enterprise in the 4th quarter worth $480,000. Proficio Capital Partners LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at about $78,414,000. Independent Advisor Alliance lifted its stake in shares of Axon Enterprise by 19.8% in the fourth quarter. Independent Advisor Alliance now owns 3,006 shares of the biotechnology company's stock valued at $1,787,000 after purchasing an additional 497 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at about $284,000. Finally, Sequoia Financial Advisors LLC increased its holdings in Axon Enterprise by 67.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,898 shares of the biotechnology company's stock valued at $1,722,000 after acquiring an additional 1,171 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON traded down $4.39 on Tuesday, reaching $745.87. 373,049 shares of the company's stock were exchanged, compared to its average volume of 704,996. The firm has a market capitalization of $58.07 billion, a price-to-earnings ratio of 180.16, a PEG ratio of 83.99 and a beta of 1.29. Axon Enterprise, Inc has a fifty-two week low of $279.02 and a fifty-two week high of $830.21. The business's 50-day moving average is $752.67 and its two-hundred day moving average is $641.14. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. The business had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company's quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 earnings per share. As a group, equities research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AXON shares. The Goldman Sachs Group raised their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Needham & Company LLC lifted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Barclays raised their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Bank of America raised their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $716.36.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 9,905 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $738.03, for a total value of $7,310,187.15. Following the completion of the transaction, the president directly owned 298,809 shares in the company, valued at $220,530,006.27. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael Garnreiter sold 5,913 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the sale, the director owned 17,740 shares of the company's stock, valued at approximately $13,482,400. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,642 shares of company stock valued at $30,500,428. Corporate insiders own 5.70% of the company's stock.

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.