M&T Bank Corp Trims Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

M&T Bank Corp cut its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 15.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,937 shares of the biotechnology company’s stock after selling 744 shares during the period. M&T Bank Corp’s holdings in Axon Enterprise were worth $1,574,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in AXON. Groupama Asset Managment bought a new stake in shares of Axon Enterprise in the third quarter valued at about $200,000. Nomura Asset Management Co. Ltd. increased its position in Axon Enterprise by 6.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 21,104 shares of the biotechnology company’s stock valued at $8,433,000 after purchasing an additional 1,347 shares during the period. MML Investors Services LLC raised its holdings in shares of Axon Enterprise by 9.5% in the 3rd quarter. MML Investors Services LLC now owns 24,544 shares of the biotechnology company’s stock valued at $9,808,000 after purchasing an additional 2,133 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Axon Enterprise by 1.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,134 shares of the biotechnology company’s stock worth $1,252,000 after purchasing an additional 39 shares during the period. Finally, XTX Topco Ltd lifted its position in shares of Axon Enterprise by 20.6% in the 3rd quarter. XTX Topco Ltd now owns 5,650 shares of the biotechnology company’s stock worth $2,258,000 after purchasing an additional 964 shares during the period. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axon Enterprise

In other news, CEO Patrick W. Smith sold 47,314 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $400.07, for a total transaction of $18,928,911.98. Following the sale, the chief executive officer now owns 2,983,802 shares of the company’s stock, valued at $1,193,729,666.14. This trade represents a 1.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Joshua Isner sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $606.15, for a total transaction of $12,123,000.00. Following the completion of the transaction, the president now owns 208,166 shares of the company’s stock, valued at approximately $126,179,820.90. This represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,590 shares of company stock worth $49,176,907. Insiders own 6.10% of the company’s stock.

Axon Enterprise Trading Up 1.3 %

Shares of Axon Enterprise stock opened at $644.91 on Friday. The stock has a market cap of $49.17 billion, a PE ratio of 166.64, a price-to-earnings-growth ratio of 14.14 and a beta of 1.01. The firm has a fifty day moving average price of $539.52 and a 200 day moving average price of $405.45. Axon Enterprise, Inc. has a 1 year low of $241.72 and a 1 year high of $698.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63.

Analyst Ratings Changes

A number of equities analysts recently commented on AXON shares. JMP Securities boosted their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Northland Securities raised their price target on shares of Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Needham & Company LLC lifted their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group increased their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.