Bank of New York Mellon Corp Sells 156,835 Shares of Axon Enterprise, Inc $AXON

Bank of New York Mellon Corp cut its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 18.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 703,307 shares of the biotechnology company’s stock after selling 156,835 shares during the period. Bank of New York Mellon Corp’s holdings in Axon Enterprise were worth $504,721,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Ballentine Partners LLC raised its stake in Axon Enterprise by 4.1% in the third quarter. Ballentine Partners LLC now owns 1,143 shares of the biotechnology company’s stock valued at $820,000 after buying an additional 45 shares during the period. Valeo Financial Advisors LLC raised its stake in Axon Enterprise by 16.2% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,147 shares of the biotechnology company’s stock valued at $823,000 after acquiring an additional 160 shares during the period. Truist Financial Corp boosted its position in Axon Enterprise by 24.2% during the third quarter. Truist Financial Corp now owns 13,219 shares of the biotechnology company’s stock worth $9,486,000 after purchasing an additional 2,575 shares during the period. Stonegate Investment Group LLC increased its holdings in shares of Axon Enterprise by 10.0% in the third quarter. Stonegate Investment Group LLC now owns 440 shares of the biotechnology company’s stock valued at $316,000 after purchasing an additional 40 shares during the last quarter. Finally, Paragon Private Wealth Management LLC raised its position in shares of Axon Enterprise by 47.8% in the third quarter. Paragon Private Wealth Management LLC now owns 1,516 shares of the biotechnology company’s stock valued at $1,088,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 20,000 shares of the business’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. The trade was a 7.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey C. Kunins sold 1,797 shares of Axon Enterprise stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $539.23, for a total transaction of $968,996.31. Following the completion of the sale, the insider directly owned 83,485 shares of the company’s stock, valued at approximately $45,017,616.55. The trade was a 2.11% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 60,540 shares of company stock worth $34,684,738. Company insiders own 5.70% of the company’s stock.

Axon Enterprise Stock Down 9.9%

AXON stock opened at $549.86 on Thursday. The stock has a market capitalization of $43.39 billion, a P/E ratio of 174.01, a price-to-earnings-growth ratio of 19.21 and a beta of 1.41. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $579.31 and a 200-day moving average price of $672.62. Axon Enterprise, Inc has a 12 month low of $469.24 and a 12 month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last released 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). Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The firm had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. During the same period last year, the business earned $1.45 EPS. The company’s revenue was up 30.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on AXON. Morgan Stanley cut their price objective on shares of Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Wall Street Zen cut Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. 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. Royal Bank Of Canada assumed coverage on shares of Axon Enterprise in a research report on Monday, November 17th. They issued an “outperform” rating and a $860.00 target price for the company. Finally, Piper Sandler lowered their price target on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $805.71.

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.