Whittier Trust Co. Boosts Stake in Axon Enterprise, Inc $AXON

Key Points

• Whittier Trust Co. increased its stake in Axon Enterprise by 9.9% in the first quarter, buying 2,058 more shares and bringing its total to 22,834 shares worth about $9.43 million.
• Several other institutional investors also added to their positions, and 79.08% of Axon’s stock is held by hedge funds and other institutions.
• Axon shares rose to $644.68 in Tuesday trading after the company posted better-than-expected quarterly results, with revenue up 33.7% year over year and analysts maintaining a Moderate Buy consensus.

Whittier Trust Co. increased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,834 shares of the biotechnology company's stock after purchasing an additional 2,058 shares during the quarter. Whittier Trust Co.'s holdings in Axon Enterprise were worth $9,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC bought a new position in shares of Axon Enterprise in the fourth quarter worth about $480,000. NewEdge Advisors LLC increased its holdings in Axon Enterprise by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock worth $1,207,000 after acquiring an additional 668 shares in the last quarter. Empowered Funds LLC raised its stake in Axon Enterprise by 8.4% during the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock worth $1,067,000 after acquiring an additional 157 shares during the period. Woodline Partners LP raised its stake in Axon Enterprise by 40.6% during the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock worth $3,646,000 after acquiring an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in Axon Enterprise during the second quarter valued at approximately $284,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Isaiah Fields sold 2,000 shares of Axon Enterprise stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value of $800,000.00. Following the sale, the insider directly owned 52,813 shares of the company's stock, valued at approximately $21,125,200. The trade was a 3.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the sale, the insider owned 34,024 shares in the company, valued at $16,501,640. This represents a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 48,989 shares of company stock valued at $24,090,083. 4.20% of the stock is owned by corporate insiders.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON traded up $22.33 during midday trading on Tuesday, reaching $644.68. 413,093 shares of the company were exchanged, compared to its average volume of 1,102,698. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The business's fifty day moving average is $442.27 and its two-hundred day moving average is $482.38. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The stock has a market cap of $51.96 billion, a PE ratio of 257.50, a price-to-earnings-growth ratio of 12.18 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. Axon Enterprise's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.47 EPS. As a group, analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AXON shares. Zacks Research raised shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 19th. Barclays lowered their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. The Goldman Sachs Group set a $535.00 price target on Axon Enterprise in a research note on Thursday, May 7th. Morgan Stanley set a $600.00 price target on Axon Enterprise in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $722.12.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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