Sumitomo Mitsui Trust Group Inc. Sells 4,697 Shares of Axon Enterprise, Inc $AXON

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 2.6% during the first quarter, HoldingsChannel.com reports. The firm owned 177,369 shares of the biotechnology company’s stock after selling 4,697 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Axon Enterprise were worth $75,327,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its stake in Axon Enterprise by 53.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock worth $6,542,000 after purchasing an additional 4,002 shares in the last quarter. Legal & General Group Plc grew its position in shares of Axon Enterprise by 1.3% during the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock valued at $242,241,000 after purchasing an additional 5,419 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Axon Enterprise in the fourth quarter worth $13,116,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Axon Enterprise by 93.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company’s stock worth $13,270,000 after purchasing an additional 11,262 shares during the period. Finally, Teamwork Financial Advisors LLC raised its position in shares of Axon Enterprise by 40.5% in the fourth quarter. Teamwork Financial Advisors LLC now owns 25,352 shares of the biotechnology company’s stock worth $14,398,000 after buying an additional 7,307 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

AXON traded down $16.20 during trading on Friday, reaching $565.80. The stock had a trading volume of 762,731 shares, compared to its average volume of 1,119,821. The stock has a market cap of $45.60 billion, a PE ratio of 227.23, a PEG ratio of 11.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The business has a 50-day moving average of $457.90 and a 200-day moving average of $483.77.

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 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 analyst estimates of $778.90 million. During the same quarter in the previous year, the company posted $1.47 earnings per share. The company’s revenue was up 33.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the sale, the insider owned 34,024 shares in the company, valued at $16,501,640. The trade was a 4.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 58,989 shares of company stock worth $30,527,983 in the last quarter. 4.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AXON has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted 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. Piper Sandler reaffirmed an “overweight” rating and issued a $674.00 price target on shares of Axon Enterprise in a report on Monday, June 15th. Barclays dropped their price target on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Citizens Jmp reissued a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a report on Thursday, June 25th. Finally, Zacks Research upgraded shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $722.12.

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.