Whittier Trust Co. Acquires 2,058 Shares of Axon Enterprise, Inc $AXON

Whittier Trust Co. grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 9.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 22,834 shares of the biotechnology company’s stock after acquiring an additional 2,058 shares during the period. Whittier Trust Co.’s holdings in Axon Enterprise were worth $9,432,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Evergreen Capital Management LLC lifted its holdings in shares of Axon Enterprise by 3.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock valued at $342,000 after acquiring an additional 15 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Axon Enterprise by 0.5% during the third quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company’s stock worth $2,848,000 after acquiring an additional 19 shares during the last quarter. CWA Asset Management Group LLC raised its position in Axon Enterprise by 5.2% during the fourth quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company’s stock valued at $220,000 after purchasing an additional 19 shares during the period. Synergy Financial Group LTD lifted its stake in shares of Axon Enterprise by 1.4% in the 3rd quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock valued at $996,000 after purchasing an additional 19 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Axon Enterprise by 1.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company’s stock valued at $1,350,000 after purchasing an additional 19 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Trading Up 3.6%

Shares of NASDAQ AXON traded up $22.33 during midday trading on Tuesday, hitting $644.68. The company’s stock had a trading volume of 413,093 shares, compared to its average volume of 1,102,698. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $442.27 and its two-hundred day moving average is $482.38. 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 $51.96 billion, a P/E ratio of 257.50, a price-to-earnings-growth ratio of 12.18 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. The firm had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.Axon Enterprise’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company earned $1.47 EPS. As a group, equities research analysts expect that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Insider Activity

In related news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $500.00, for a total transaction of $5,000,000.00. Following the completion of the sale, the chief executive officer owned 3,050,997 shares in the company, valued at $1,525,498,500. This trade represents a 0.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction dated 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 owned 34,024 shares of the company’s stock, valued at $16,501,640. The trade was a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 48,989 shares of company stock valued at $24,090,083. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AXON. JPMorgan Chase & Co. lifted their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Piper Sandler restated an “overweight” rating and issued a $674.00 price target on shares of Axon Enterprise in a research report on Monday, June 15th. TD Cowen dropped their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Citizens Jmp reiterated a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. Finally, UBS Group reduced their target price on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $722.12.

About Axon Enterprise

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.