Private Trust Co. NA Cuts Stock Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Private Trust Co. NA reduced its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 75.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 109 shares of the biotechnology company's stock after selling 333 shares during the quarter. Private Trust Co. NA's holdings in Axon Enterprise were worth $57,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Axon Enterprise during the first quarter valued at approximately $1,110,000. CX Institutional bought a new stake in shares of Axon Enterprise during the first quarter valued at approximately $115,000. GAMMA Investing LLC raised its stake in Axon Enterprise by 11.8% during the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after buying an additional 154 shares during the last quarter. DAVENPORT & Co LLC raised its stake in Axon Enterprise by 5.1% during the first quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock valued at $494,000 after buying an additional 46 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Axon Enterprise by 33.1% during the first quarter. Blue Trust Inc. now owns 169 shares of the biotechnology company's stock valued at $89,000 after buying an additional 42 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AXON has been the subject of a number of recent research reports. Wolfe Research assumed coverage on Axon Enterprise in a research note on Monday. They set an "outperform" rating for the company. Barclays upped their price target on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Needham & Company LLC upped their price target on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. The Goldman Sachs Group upped their price objective on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Bank of America upped their price objective on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $699.55.

Axon Enterprise Trading Down 0.5%

AXON traded down $3.37 during trading hours on Friday, reaching $729.62. 1,120,957 shares of the company's stock traded hands, compared to its average volume of 545,551. The firm has a 50-day moving average price of $752.67 and a 200 day moving average price of $640.95. Axon Enterprise, Inc has a 52-week low of $279.02 and a 52-week high of $830.21. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $56.80 billion, a PE ratio of 176.24, a PEG ratio of 84.37 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The company had revenue of $603.63 million for the quarter, compared to the consensus estimate of $585.67 million. During the same period last year, the business posted $1.15 EPS. Axon Enterprise's quarterly revenue was up 31.3% on a year-over-year basis. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 905 shares of Axon Enterprise stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total transaction of $702,632.95. Following the completion of the sale, the president owned 268,735 shares of the company's stock, valued at approximately $208,643,166.65. The trade was a 0.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jennifer H. Mak sold 75 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $771.81, for a total value of $57,885.75. Following the completion of the transaction, the chief accounting officer directly owned 15,240 shares of the company's stock, valued at approximately $11,762,384.40. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,642 shares of company stock worth $30,500,428. 4.40% of the stock is currently owned by corporate insiders.

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.