Diversified Trust Co Buys 2,054 Shares of Axon Enterprise, Inc $AXON

Diversified Trust Co increased its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 20.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,906 shares of the biotechnology company’s stock after purchasing an additional 2,054 shares during the period. Diversified Trust Co’s holdings in Axon Enterprise were worth $5,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its holdings in shares of Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock valued at $932,869,000 after buying an additional 1,516,099 shares during the period. Edgewood Management LLC acquired a new stake in shares of Axon Enterprise during the fourth quarter worth $846,516,000. Wellington Management Group LLP raised its holdings in shares of Axon Enterprise by 326.9% during the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after acquiring an additional 1,179,038 shares during the period. Norges Bank bought a new stake in Axon Enterprise in the 4th quarter valued at $515,764,000. Finally, Sands Capital Management LLC lifted its position in Axon Enterprise by 11.6% in the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after acquiring an additional 167,095 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $423.40 on Friday. The company’s fifty day simple moving average is $413.25 and its 200-day simple moving average is $485.61. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The firm has a market cap of $34.13 billion, a PE ratio of 170.04, a P/E/G ratio of 7.70 and a beta of 1.45. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.90 million. During the same quarter in the prior year, the company posted $1.47 earnings per share. The firm’s revenue was up 33.7% on a year-over-year basis. Equities research analysts expect that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on AXON shares. Citizens Jmp lowered their target price on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating for the company in a report on Thursday, May 7th. Weiss Ratings upgraded Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Barclays cut their price target on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Piper Sandler reaffirmed an “overweight” rating and set a $674.00 price objective on shares of Axon Enterprise in a research report on Monday, June 15th. Finally, Craig Hallum reiterated a “buy” rating and set a $820.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $712.75.

Insider Activity

In other news, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chief executive officer owned 3,060,997 shares in the company, valued at $1,530,498,500. This trade represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the completion of the sale, the executive directly owned 49,710 shares in the company, valued at approximately $24,855,000. This represents a 2.44% 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 ninety days, insiders sold 38,989 shares of company stock worth $19,090,083. 4.20% of the stock is currently owned by company insiders.

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.