Diversified Trust Co Reduces Stock Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Diversified Trust Co decreased its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 29.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXON. Quent Capital LLC increased its holdings in shares of Axon Enterprise by 1,875.0% in the 3rd quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 75 shares in the last quarter. Prestige Wealth Management Group LLC grew its position in Axon Enterprise by 115.8% during the third quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 44 shares during the period. Versant Capital Management Inc increased its stake in shares of Axon Enterprise by 4,750.0% in the 4th quarter. Versant Capital Management Inc now owns 97 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 95 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Axon Enterprise in the third quarter worth about $41,000. Finally, Planning Capital Management Corp lifted its holdings in Axon Enterprise by 83.3% during the third quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 55 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Axon Enterprise stock traded down $8.37 during mid-day trading on Tuesday, reaching $562.34. 290,910 shares of the company traded hands, compared to its average volume of 706,977. 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, Inc. has a fifty-two week low of $244.01 and a fifty-two week high of $698.67. The company has a market capitalization of $42.88 billion, a price-to-earnings ratio of 145.31, a price-to-earnings-growth ratio of 14.19 and a beta of 1.04. The firm’s fifty day moving average is $596.20 and its two-hundred day moving average is $443.16.

Insiders Place Their Bets

In other news, insider Jeffrey C. Kunins sold 1,035 shares of Axon Enterprise stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $624.47, for a total transaction of $646,326.45. Following the completion of the transaction, the insider now directly owns 124,243 shares of the company’s stock, valued at $77,586,026.21. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total transaction of $271,831.50. Following the completion of the transaction, the director now owns 6,929 shares of the company’s stock, valued at approximately $4,185,601.03. This trade represents a 6.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,545 shares of company stock valued at $31,159,317. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on AXON. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Needham & Company LLC upped their price target on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird upped their price objective on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, JMP Securities increased their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus target price of $488.67.

About Axon Enterprise

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.