Sumitomo Mitsui Trust Group Inc. Purchases 5,422 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 186,239 shares of the biotechnology company's stock after buying an additional 5,422 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Axon Enterprise worth $97,952,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AXON. Brighton Jones LLC bought a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $480,000. Private Trust Co. NA boosted its position in Axon Enterprise by 402.3% during the fourth quarter. Private Trust Co. NA now owns 442 shares of the biotechnology company's stock worth $263,000 after purchasing an additional 354 shares during the period. SVB Wealth LLC bought a new stake in Axon Enterprise during the 4th quarter valued at $256,000. Fisher Asset Management LLC raised its stake in shares of Axon Enterprise by 14.2% during the 4th quarter. Fisher Asset Management LLC now owns 885 shares of the biotechnology company's stock valued at $526,000 after purchasing an additional 110 shares during the period. Finally, West Michigan Advisors LLC bought a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $306,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

NASDAQ:AXON traded down $0.83 during mid-day trading on Wednesday, reaching $774.55. The stock had a trading volume of 574,233 shares, compared to its average volume of 560,061. The stock has a market capitalization of $60.30 billion, a P/E ratio of 187.09, a P/E/G ratio of 89.25 and a beta of 1.29. The firm has a 50 day moving average price of $729.04 and a two-hundred day moving average price of $633.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.62 and a current ratio of 2.83. Axon Enterprise, Inc has a one year low of $279.02 and a one year high of $830.21.

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

Insider Buying and Selling at Axon Enterprise

In other news, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total value of $4,493,880.00. Following the transaction, the director owned 17,740 shares in the company, valued at approximately $13,482,400. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $738.84, for a total value of $960,492.00. Following the transaction, the director owned 4,829 shares in the company, valued at approximately $3,567,858.36. The trade was a 21.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,642 shares of company stock valued at $30,500,428. 4.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of recent analyst reports. Bank of America boosted their price target 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. Craig Hallum cut Axon Enterprise from a "buy" rating to a "cautious" rating in a research report on Monday, March 10th. Needham & Company LLC raised their price target on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, May 8th. The Goldman Sachs Group lifted their price target on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Barclays upped their price objective 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.