Bank of New York Mellon Corp Grows Position in Axon Enterprise, Inc $AXON

Bank of New York Mellon Corp raised its position in Axon Enterprise, Inc (NASDAQ:AXON) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 715,622 shares of the biotechnology company’s stock after acquiring an additional 12,315 shares during the period. Bank of New York Mellon Corp’s holdings in Axon Enterprise were worth $406,423,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. raised its stake 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 worth $932,869,000 after buying an additional 1,516,099 shares during the period. Norges Bank bought a new position in shares of Axon Enterprise in the fourth quarter worth about $515,764,000. Vanguard Group Inc. raised its stake in shares of Axon Enterprise by 4.2% in the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock worth $6,684,217,000 after buying an additional 376,904 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Axon Enterprise by 23.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company’s stock worth $476,089,000 after buying an additional 156,647 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in shares of Axon Enterprise by 2,541.0% in the third quarter. Artisan Partners Limited Partnership now owns 96,053 shares of the biotechnology company’s stock worth $68,931,000 after buying an additional 99,988 shares during the period. Institutional investors own 79.08% of the company’s stock.

Wall Street Analyst Weigh In

AXON has been the topic of several recent research reports. Craig Hallum reaffirmed a “buy” rating and issued a $820.00 price objective on shares of Axon Enterprise in a research note on Wednesday, February 25th. Needham & Company LLC decreased their price objective on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Citizens Jmp decreased their price objective on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 7th. UBS Group cut their target price on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. increased their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $712.75.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $513.20 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91. The stock has a 50-day moving average price of $407.52 and a 200 day moving average price of $491.96. The stock has a market capitalization of $41.36 billion, a P/E ratio of 206.10, a P/E/G ratio of 8.75 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.91 million. During the same quarter last year, the business posted $1.47 earnings per share. The firm’s revenue was up 33.7% on a year-over-year basis. Equities research analysts forecast that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeri Williams sold 629 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $469.64, for a total transaction of $295,403.56. Following the completion of the sale, the director owned 1,141 shares in the company, valued at approximately $535,859.24. This trade represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erika Nardini sold 198 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total value of $100,302.84. Following the transaction, the director owned 1,946 shares of the company’s stock, valued at $985,804.68. This represents a 9.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,548 shares of company stock worth $1,542,775. Company insiders own 4.20% of the company’s stock.

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.