Diversified Trust Co Cuts Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Diversified Trust Co lessened its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 29.9% in the 4th quarter, Holdings Channel reports. The firm owned 10,558 shares of the biotechnology company’s stock after selling 4,509 shares during the period. Diversified Trust Co’s holdings in Axon Enterprise were worth $6,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AXON. Groupama Asset Managment acquired a new position in Axon Enterprise during the third quarter worth $200,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Axon Enterprise in the 3rd quarter valued at $120,553,000. International Assets Investment Management LLC acquired a new position in Axon Enterprise in the third quarter valued at about $871,860,000. Westfield Capital Management Co. LP boosted its position in shares of Axon Enterprise by 12.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock worth $469,661,000 after purchasing an additional 127,769 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in Axon Enterprise by 44.0% during the second quarter. 1832 Asset Management L.P. now owns 375,700 shares of the biotechnology company’s stock worth $110,546,000 after purchasing an additional 114,800 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Activity

In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total value of $437,980.00. Following the sale, the director now owns 26,259 shares of the company’s stock, valued at approximately $11,500,916.82. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julie A. Cullivan sold 1,261 shares of Axon Enterprise stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total transaction of $860,077.66. Following the transaction, the director now owns 2,392 shares of the company’s stock, valued at approximately $1,631,487.52. The trade was a 34.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,545 shares of company stock worth $31,159,317 in the last 90 days. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AXON. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. JMP Securities raised their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price objective on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Northland Securities boosted their price target on shares of Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC boosted their price objective on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and an average price target of $488.67.

Axon Enterprise Stock Performance

Shares of AXON stock traded down $8.37 during trading hours on Tuesday, reaching $562.34. 290,910 shares of the company’s stock were exchanged, compared to its average volume of 706,977. The company has a market cap of $42.88 billion, a P/E ratio of 145.31, a price-to-earnings-growth ratio of 14.19 and a beta of 1.04. Axon Enterprise, Inc. has a 1 year low of $244.01 and a 1 year high of $698.67. The company’s 50 day moving average is $596.20 and its two-hundred day moving average is $443.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.