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

Bank of New York Mellon Corp lowered its position in Axon Enterprise, Inc (NASDAQ:AXON) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 708,831 shares of the biotechnology company’s stock after selling 6,791 shares during the quarter. Bank of New York Mellon Corp’s holdings in Axon Enterprise were worth $301,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in AXON. Brighton Jones LLC purchased a new stake in Axon Enterprise in the fourth quarter worth $480,000. NewEdge Advisors LLC raised its stake in shares of Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 668 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after purchasing an additional 157 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in shares of Axon Enterprise during the second quarter valued at $284,000. Institutional investors own 79.08% of the company’s stock.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the sale, the insider directly owned 34,024 shares in the company, valued at $16,501,640. This represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Joshua Isner sold 13,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 58,989 shares of company stock worth $30,527,983. 4.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AXON has been the topic of several research analyst reports. Morgan Stanley set a $600.00 price target on Axon Enterprise in a report on Thursday, May 7th. TD Cowen decreased their target price on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Piper Sandler lifted their price objective on shares of Axon Enterprise from $674.00 to $724.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. UBS Group cut their target price on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus price target of $725.25.

Axon Enterprise Trading Down 5.8%

Axon Enterprise stock opened at $510.28 on Friday. The stock’s 50 day simple moving average is $471.67 and its two-hundred day simple moving average is $481.88. 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 firm has a market cap of $41.13 billion, a PE ratio of 204.93, a P/E/G ratio of 11.05 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.47 EPS. Analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Axon Enterprise 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.