Private Trust Co. NA Lowers Stake in Axon Enterprise, Inc (NASDAQ:AXON)

Private Trust Co. NA cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 75.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109 shares of the biotechnology company's stock after selling 333 shares during the period. Private Trust Co. NA's holdings in Axon Enterprise were worth $57,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AXON. Capital World Investors grew its position in Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after purchasing an additional 841,772 shares in the last quarter. Alliancebernstein L.P. grew its position in Axon Enterprise by 273.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock worth $659,128,000 after purchasing an additional 812,337 shares in the last quarter. Norges Bank bought a new stake in Axon Enterprise in the 4th quarter worth about $482,081,000. GQG Partners LLC bought a new stake in Axon Enterprise in the 4th quarter worth about $478,349,000. Finally, GAMMA Investing LLC grew its position in Axon Enterprise by 58,725.5% in the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CAO Jennifer H. Mak sold 75 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $771.81, for a total value of $57,885.75. Following the sale, the chief accounting officer directly owned 15,240 shares in the company, valued at $11,762,384.40. This represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Cameron Brooks sold 3,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the sale, the executive owned 19,447 shares in the company, valued at $14,405,559.72. This represents a 13.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,642 shares of company stock worth $30,500,428 in the last ninety days. Insiders own 4.40% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON stock traded down $3.37 during trading 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 company has a market capitalization of $56.80 billion, a P/E ratio of 176.24, a PEG ratio of 83.99 and a beta of 1.29. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68. The firm's 50-day moving average is $752.67 and its 200 day moving average is $641.02. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $830.21.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. The company had revenue of $603.63 million for the quarter, compared to analysts' expectations of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. Axon Enterprise's revenue was up 31.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 EPS. Equities research analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AXON shares. The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Wolfe Research began coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating for the company. Needham & Company LLC increased their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Bank of America increased their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Barclays increased their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $699.55.

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.