US Bancorp DE Reduces Stock Position in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• US Bancorp DE reduced its holdings in Axon Enterprise, Inc by 4.1% during the first quarter, bringing its total to 11,959 shares valued at $6.29 million.
• Axon Enterprise stock price rose 16.4% recently, reaching $867.12, with a significant trading volume of over 2.5 million shares.
• Multiple research firms have increased their price targets for Axon Enterprise, with Bank of America setting a target of $895.00 and Raymond James adjusting theirs to $855.00, reflecting positive analyst sentiment.

US Bancorp DE cut its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,959 shares of the biotechnology company's stock after selling 510 shares during the period. US Bancorp DE's holdings in Axon Enterprise were worth $6,290,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Capital World Investors lifted its position in shares of Axon Enterprise by 86.4% in the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after buying an additional 841,772 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Axon Enterprise by 58,725.5% in the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after buying an additional 763,431 shares during the last quarter. Jennison Associates LLC raised its holdings in Axon Enterprise by 23,203.7% in the 1st quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after acquiring an additional 611,418 shares during the period. Two Sigma Advisers LP increased its stake in shares of Axon Enterprise by 230.2% in the fourth quarter. Two Sigma Advisers LP now owns 220,600 shares of the biotechnology company's stock worth $131,107,000 after purchasing an additional 153,800 shares during the period. Finally, Northern Trust Corp boosted its stake in Axon Enterprise by 19.8% during the 4th quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock valued at $426,083,000 after purchasing an additional 118,469 shares during the period. Institutional investors own 79.08% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on AXON. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target for the company in a report on Tuesday. Barclays lifted their price objective on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. UBS Group reissued a "neutral" rating and set a $840.00 price objective (up from $820.00) on shares of Axon Enterprise in a report on Tuesday. Bank of America increased their target price on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price target 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. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $837.69.

Axon Enterprise Stock Down 3.6%

AXON traded down $31.34 during midday trading on Friday, hitting $839.63. The company had a trading volume of 395,729 shares, compared to its average volume of 707,783. Axon Enterprise, Inc has a 52 week low of $346.71 and a 52 week high of $885.91. The stock's 50 day moving average price is $772.30 and its 200 day moving average price is $663.05. The company has a quick ratio of 2.62, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $65.91 billion, a price-to-earnings ratio of 207.32, a PEG ratio of 19.36 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The company had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. During the same quarter last year, the firm posted $1.20 EPS. The firm's revenue for the quarter was up 32.6% on a year-over-year basis. On average, research analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Joshua Isner sold 9,905 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $738.03, for a total value of $7,310,187.15. Following the transaction, the president owned 298,809 shares of the company's stock, valued at $220,530,006.27. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Garnreiter sold 5,913 shares of the company'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 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 $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 ninety days, insiders sold 34,642 shares of company stock worth $25,090,528. Company insiders own 4.40% 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.