21,605 Axon Enterprise, Inc $AXON Shares Purchased by Adirondack Trust Co.

Adirondack Trust Co. boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 8,341.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,864 shares of the biotechnology company’s stock after buying an additional 21,605 shares during the period. Axon Enterprise makes up approximately 3.2% of Adirondack Trust Co.’s holdings, making the stock its 6th largest holding. Adirondack Trust Co.’s holdings in Axon Enterprise were worth $9,238,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AXON. State Street Corp grew its holdings in Axon Enterprise by 5,700.2% during the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after purchasing an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Axon Enterprise by 18,050.2% during the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock valued at $7,400,094,000 after buying an additional 13,127,348 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Axon Enterprise by 8,432.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock valued at $1,983,414,000 after buying an additional 3,496,493 shares during the period. Nykredit A S bought a new position in shares of Axon Enterprise during the second quarter valued at approximately $698,937,000. Finally, Mn Services Vermogensbeheer B.V. grew its stake in shares of Axon Enterprise by 5,571.4% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 1,262,110 shares of the biotechnology company’s stock valued at $533,267,000 after buying an additional 1,239,856 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Insider Activity

In other Axon Enterprise news, insider Isaiah Fields sold 1,017 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the completion of the sale, the insider directly owned 56,264 shares in the company, valued at $27,032,038.80. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the sale, the chief executive officer owned 3,118,012 shares of the company’s stock, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 47,397 shares of company stock worth $26,722,984. Insiders own 4.20% of the company’s stock.

Axon Enterprise Trading Down 2.4%

Axon Enterprise stock traded down $9.73 during trading hours on Wednesday, hitting $403.62. The company had a trading volume of 357,305 shares, compared to its average volume of 1,046,822. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The firm has a market cap of $32.79 billion, a P/E ratio of 167.20, a P/E/G ratio of 7.80 and a beta of 1.44. The company has a 50-day moving average price of $511.34 and a two-hundred day moving average price of $475.41. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $764.02.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same quarter in the previous year, the firm posted $2.12 earnings per share. The company’s revenue was up 35.3% on a year-over-year basis. On average, sell-side analysts anticipate that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AXON shares. Argus increased their price target on Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Morgan Stanley raised their price target on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Zacks Research upgraded Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Barclays upped their price objective on Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, UBS Group increased their target price on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $721.57.

About Axon Enterprise

Axon Enterprise, Inc develops technology and connected systems for public safety and law enforcement agencies. Its product portfolio includes TASER conducted energy weapons, body-worn cameras, in-car cameras and other recording devices designed to support safer interactions, improve accountability and document incidents.

The company also provides cloud-based software for managing digital evidence, reports, records and agency operations. Its Axon platform connects hardware with services such as evidence management, real-time operations, computer-aided dispatch and other workflow tools, enabling agencies to store, organize and share information across their organizations.

Founded in 1993 as AIR TASER by Rick Smith and Tom Smith, the company later operated as TASER International before adopting the name Axon Enterprise in 2017.