Diversified Trust Co Sells 1,229 Shares of Axon Enterprise, Inc $AXON

Diversified Trust Co decreased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 11.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,189 shares of the biotechnology company’s stock after selling 1,229 shares during the quarter. Diversified Trust Co’s holdings in Axon Enterprise were worth $6,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Vestor Capital LLC raised its stake in shares of Axon Enterprise by 438,636.3% during the 2nd quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock valued at $690,170,000 after purchasing an additional 833,409 shares during the period. Norges Bank bought a new position in Axon Enterprise in the 2nd quarter worth about $637,806,000. McElhenny Sheffield Capital Management LLC purchased a new position in Axon Enterprise during the 2nd quarter valued at about $255,833,000. Vanguard Group Inc. increased its position in shares of Axon Enterprise by 3.5% during the second quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock valued at $7,399,515,000 after buying an additional 305,252 shares during the period. Finally, 1832 Asset Management L.P. increased its position in shares of Axon Enterprise by 129.2% during the second quarter. 1832 Asset Management L.P. now owns 536,420 shares of the biotechnology company’s stock valued at $444,124,000 after buying an additional 302,420 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Down 0.6%

AXON opened at $580.55 on Tuesday. The stock has a market cap of $45.81 billion, a PE ratio of 183.72, a P/E/G ratio of 134.09 and a beta of 1.40. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57. Axon Enterprise, Inc has a 52 week low of $469.24 and a 52 week high of $885.91. The business’s fifty day simple moving average is $597.66 and its 200 day simple moving average is $699.11.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.46). The firm had revenue of $710.64 million for the quarter, compared to the consensus estimate of $704.83 million. Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The company’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same period last year, the firm earned $1.45 EPS. As a group, research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $551.92, for a total transaction of $5,519,200.00. Following the transaction, the chief executive officer directly owned 3,110,997 shares in the company, valued at $1,717,021,464.24. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeri Williams sold 100 shares of Axon Enterprise stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $550.63, for a total transaction of $55,063.00. Following the transaction, the director directly owned 1,316 shares in the company, valued at $724,629.08. This trade represents a 7.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,540 shares of company stock valued at $35,632,038 over the last 90 days. Company insiders own 5.70% of the company’s stock.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $870.00 price objective on shares of Axon Enterprise in a research report on Wednesday, September 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday, December 22nd. The Goldman Sachs Group reduced their price target on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, November 5th. Finally, JMP Securities restated a “market outperform” rating and set a $825.00 target price on shares of Axon Enterprise in a research report on Monday, September 29th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $802.71.

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.