Axon Enterprise, Inc (NASDAQ:AXON) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

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

Several other large investors have also made changes to their positions in AXON. Pinion Investment Advisors LLC raised its holdings in shares of Axon Enterprise by 3.0% in the 1st quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company's stock worth $341,000 after purchasing an additional 19 shares during the period. Kentucky Retirement Systems increased its position in Axon Enterprise by 0.4% during the 1st quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company's stock worth $2,605,000 after purchasing an additional 19 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in Axon Enterprise by 4.6% in the first quarter. HBK Sorce Advisory LLC now owns 451 shares of the biotechnology company's stock valued at $237,000 after buying an additional 20 shares during the period. Beacon Pointe Advisors LLC raised its holdings in Axon Enterprise by 2.6% in the fourth quarter. Beacon Pointe Advisors LLC now owns 864 shares of the biotechnology company's stock valued at $513,000 after buying an additional 22 shares during the period. Finally, Interchange Capital Partners LLC lifted its position in Axon Enterprise by 1.9% during the fourth quarter. Interchange Capital Partners LLC now owns 1,310 shares of the biotechnology company's stock valued at $779,000 after buying an additional 25 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

NASDAQ:AXON traded up $20.93 during trading hours on Thursday, reaching $795.48. 268,670 shares of the stock were exchanged, compared to its average volume of 709,091. The stock has a market capitalization of $61.93 billion, a P/E ratio of 192.14, a P/E/G ratio of 89.25 and a beta of 1.29. The firm has a 50 day simple moving average of $729.04 and a 200-day simple moving average of $633.68. 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, Inc has a 52 week low of $279.02 and a 52 week high of $830.21.

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 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 the consensus estimate of $585.67 million. During the same quarter in the previous year, the company posted $1.15 earnings per share. The firm's revenue was up 31.3% on a year-over-year basis. As a group, sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. 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 research note on Wednesday, May 14th. Craig Hallum cut Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. Barclays increased their target price on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Bank of America boosted their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Needham & Company LLC raised their target price on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $699.55.

Insiders Place Their Bets

In related news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the sale, the chief executive officer owned 3,063,982 shares in the company, valued at $1,657,583,622.18. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total value of $4,493,880.00. Following the completion of the transaction, the director owned 17,740 shares of the company's stock, valued at approximately $13,482,400. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,642 shares of company stock worth $30,500,428. Corporate insiders own 4.40% of the company's stock.

About Axon Enterprise

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.