WASHINGTON TRUST Co Purchases 198,927 Shares of Axon Enterprise, Inc $AXON

WASHINGTON TRUST Co raised its position in Axon Enterprise, Inc (NASDAQ:AXON) by 40,106.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 199,423 shares of the biotechnology company’s stock after purchasing an additional 198,927 shares during the period. Axon Enterprise accounts for 2.5% of WASHINGTON TRUST Co’s holdings, making the stock its 9th biggest position. WASHINGTON TRUST Co’s holdings in Axon Enterprise were worth $84,260,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Keating Financial Advisory Services Inc. purchased a new position in shares of Axon Enterprise in the 2nd quarter worth approximately $31,000. Wealth Enhancement Trust Services Inc. bought a new position in shares of Axon Enterprise in the third quarter valued at approximately $33,000. Washington Trust Advisors Inc. grew its holdings in shares of Axon Enterprise by 1,300.0% in the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 65 shares in the last quarter. Delos Wealth Advisors LLC purchased a new stake in shares of Axon Enterprise during the second quarter valued at approximately $45,000. Finally, Owl Creek Wealth Partners LLC increased its position in shares of Axon Enterprise by 84.8% during the second quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

Insider Transactions at Axon Enterprise

In other news, CEO Patrick Smith sold 10,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the transaction, the chief executive officer owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction dated 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 sale, the president directly owned 296,974 shares of the company’s stock, valued at approximately $170,590,774.82. This trade represents a 5.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 47,397 shares of company stock worth $26,722,984 over the last 90 days. 4.20% of the stock is owned by insiders.

Axon Enterprise Stock Performance

NASDAQ AXON traded up $5.77 on Friday, hitting $420.37. 844,988 shares of the stock traded hands, compared to its average volume of 1,031,962. The business’s fifty day moving average is $480.64 and its two-hundred day moving average is $473.90. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $764.02. The firm has a market capitalization of $34.15 billion, a price-to-earnings ratio of 174.43, a PEG ratio of 7.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AXON. Barclays lifted their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. Piper Sandler decreased their target price on Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating for the company in a research report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Finally, UBS Group lifted their target price on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus price target of $689.94.

Axon Enterprise Company 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.