Bank of New York Mellon Corp Has $504.72 Million Stock Holdings in Axon Enterprise, Inc $AXON

Bank of New York Mellon Corp decreased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 18.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 703,307 shares of the biotechnology company’s stock after selling 156,835 shares during the quarter. Bank of New York Mellon Corp owned about 0.90% of Axon Enterprise worth $504,721,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Stone House Investment Management LLC bought a new position in Axon Enterprise during the third quarter worth $29,000. Hemington Wealth Management grew its position in Axon Enterprise by 70.8% in the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 17 shares during the last quarter. Whipplewood Advisors LLC increased its holdings in shares of Axon Enterprise by 192.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 27 shares during the period. Root Financial Partners LLC acquired a new position in shares of Axon Enterprise during the third quarter valued at about $34,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Axon Enterprise in the second quarter valued at about $37,000. 79.08% of the stock is owned by institutional investors.

Insider Transactions at Axon Enterprise

In other news, President Joshua Isner sold 20,000 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $552.60, for a total value of $11,052,000.00. Following the completion of the sale, the president directly owned 249,502 shares of the company’s stock, valued at $137,874,805.20. This represents a 7.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey C. Kunins sold 1,797 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $539.23, for a total value of $968,996.31. Following the completion of the sale, the insider owned 83,485 shares of the company’s stock, valued at $45,017,616.55. This trade represents a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 60,540 shares of company stock valued at $34,684,738. Corporate insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. UBS Group decreased their price objective on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. The Goldman Sachs Group decreased their price target on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Royal Bank Of Canada assumed coverage on shares of Axon Enterprise in a report on Monday, November 17th. They issued an “outperform” rating and a $860.00 price target on the stock. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. Finally, Northcoast Research raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 target price on the stock in a research note on Tuesday, January 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $805.71.

Axon Enterprise Stock Down 9.9%

Shares of AXON opened at $549.86 on Thursday. The business’s 50 day simple moving average is $579.31 and its 200-day simple moving average is $672.62. Axon Enterprise, Inc has a one year low of $469.24 and a one year high of $885.91. The company has a market capitalization of $43.39 billion, a P/E ratio of 174.01, a PEG ratio of 19.21 and a beta of 1.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.46). The company had revenue of $710.64 million during the quarter, compared to analyst estimates of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The company’s revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.45 EPS. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal 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.