Diversified Trust Co Purchases 65,351 Shares of Axon Enterprise, Inc $AXON

Diversified Trust Co lifted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 470.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,246 shares of the biotechnology company’s stock after buying an additional 65,351 shares during the period. Axon Enterprise comprises about 0.7% of Diversified Trust Co’s investment portfolio, making the stock its 20th largest holding. Diversified Trust Co owned 0.10% of Axon Enterprise worth $33,483,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Aberdeen Group plc raised its position in Axon Enterprise by 429.4% in the 3rd quarter. Aberdeen Group plc now owns 281,029 shares of the biotechnology company’s stock valued at $122,674,000 after buying an additional 227,949 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Axon Enterprise in the 3rd quarter valued at approximately $2,729,000. Allworth Financial LP boosted its position in Axon Enterprise by 8,015.9% during the 3rd quarter. Allworth Financial LP now owns 504,079 shares of the biotechnology company’s stock worth $212,983,000 after acquiring an additional 497,868 shares during the last quarter. Private Advisory Group LLC acquired a new position in Axon Enterprise during the 3rd quarter worth approximately $6,940,000. Finally, Eurizon Capital SGR S.p.A. boosted its position in Axon Enterprise by 6,058.4% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 1,593,304 shares of the biotechnology company’s stock worth $673,203,000 after acquiring an additional 1,567,432 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Northland Securities set a $540.00 price target on shares of Axon Enterprise in a research note on Friday, November 6th. UBS Group boosted their price objective on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Royal Bank Of Canada cut their price objective on shares of Axon Enterprise from $735.00 to $615.00 and set an “outperform” rating on the stock in a research report on Friday, November 6th. Piper Sandler restated an “overweight” rating and set a $540.00 target price (down from $561.00) on shares of Axon Enterprise in a report on Friday, November 6th. Finally, Morgan Stanley raised their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus price target of $612.18.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $315.43 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.60 and a current ratio of 3.00. The stock’s 50-day simple moving average is $417.79 and its 200 day simple moving average is $467.68. The company has a market cap of $25.69 billion, a P/E ratio of 101.10, a P/E/G ratio of 5.84 and a beta of 1.48. Axon Enterprise, Inc has a 52-week low of $291.45 and a 52-week high of $665.07.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $1.72 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.17). Axon Enterprise had a net margin of 7.56% and a return on equity of 3.87%. The company had revenue of $908.55 million for the quarter, compared to analyst estimates of $934.33 million. During the same period last year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. As a group, sell-side analysts forecast that Axon Enterprise, Inc will post 2.10 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey Kunins sold 9,605 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider owned 97,761 shares in the company, valued at $61,266,818.70. This represents a 8.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the 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 of the company’s stock, valued at approximately $27,032,038.80. The trade was a 1.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 37,397 shares of company stock worth $21,234,034. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Company Profile

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals. The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.