Axon Enterprise, Inc $AXON Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,565 shares of the biotechnology company’s stock after selling 3,937 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Axon Enterprise worth $74,180,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake in Axon Enterprise by 5,700.2% during the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after acquiring an additional 209,879,882 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Axon Enterprise by 18,050.2% during the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after buying an additional 13,127,348 shares in the last quarter. BlackRock Inc. boosted its holdings in Axon Enterprise by 4.3% during the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock worth $4,672,432,000 after buying an additional 345,365 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Axon Enterprise by 391,214.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock valued at $2,952,943,000 after buying an additional 6,987,098 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Axon Enterprise by 5,022.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock valued at $1,802,719,000 after buying an additional 4,183,302 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of analyst reports. Zacks Research upgraded shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. The Goldman Sachs Group dropped their target price on Axon Enterprise from $715.00 to $675.00 and set a “buy” rating on the stock in a research report on Monday, September 21st. Piper Sandler cut their price target on Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. Northcoast Research upped their price target on Axon Enterprise from $650.00 to $680.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, UBS Group upped their price target on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $688.38.

Axon Enterprise Price Performance

Shares of AXON opened at $416.57 on Wednesday. The firm has a 50-day simple moving average of $455.77 and a two-hundred day simple moving average of $479.07. The stock has a market cap of $33.84 billion, a PE ratio of 172.85, a P/E/G ratio of 8.09 and a beta of 1.48. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $719.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The firm had revenue of $904.39 million during the quarter, compared to analysts’ expectations of $876.42 million. During the same period in the previous year, the firm posted $2.12 EPS. Axon Enterprise’s revenue for the quarter was up 35.3% on a year-over-year basis. As a group, analysts forecast that Axon Enterprise, Inc will post 2.10 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In related news, insider Jeffrey Kunins sold 9,605 shares of Axon Enterprise stock in a transaction on Friday, August 21st. The shares were sold at an average price of $626.70, for a total value of $6,019,453.50. Following the transaction, the insider directly owned 97,761 shares in the company, valued at $61,266,818.70. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the completion of the transaction, the president owned 296,974 shares of the company’s stock, valued at $170,590,774.82. The trade was a 5.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 47,397 shares of company stock valued at $26,722,984. Insiders own 4.20% of the company’s stock.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.