Truist Financial Corp Grows Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Truist Financial Corp raised its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 53.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,467 shares of the biotechnology company's stock after acquiring an additional 2,251 shares during the quarter. Truist Financial Corp's holdings in Axon Enterprise were worth $1,903,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AXON. Avantax Advisory Services Inc. increased its stake in Axon Enterprise by 0.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company's stock valued at $1,659,000 after purchasing an additional 40 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Axon Enterprise during the 1st quarter valued at $931,000. Zurich Insurance Group Ltd FI grew its stake in shares of Axon Enterprise by 1.9% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 205,015 shares of the biotechnology company's stock worth $60,324,000 after acquiring an additional 3,832 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Axon Enterprise by 14.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 170,376 shares of the biotechnology company's stock worth $53,307,000 after acquiring an additional 22,013 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Axon Enterprise by 21.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,153 shares of the biotechnology company's stock valued at $2,693,000 after purchasing an additional 1,634 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Activity at Axon Enterprise

In related news, Director Matthew R. Mcbrady sold 2,000 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $364.66, for a total value of $729,320.00. Following the transaction, the director now directly owns 4,892 shares of the company's stock, valued at approximately $1,783,916.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Matthew R. Mcbrady sold 2,000 shares of the firm's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $364.66, for a total transaction of $729,320.00. Following the sale, the director now directly owns 4,892 shares in the company, valued at $1,783,916.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the company's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $373.03, for a total value of $167,863.50. Following the completion of the transaction, the director now directly owns 7,379 shares of the company's stock, valued at approximately $2,752,588.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 370,172 shares of company stock worth $136,562,182. 6.10% of the stock is owned by company insiders.

Axon Enterprise Stock Up 1.5 %

Axon Enterprise stock traded up $6.22 during trading hours on Friday, hitting $434.98. The stock had a trading volume of 334,523 shares, compared to its average volume of 525,122. The stock's 50-day moving average price is $378.42 and its 200-day moving average price is $327.43. Axon Enterprise, Inc. has a 12-month low of $199.29 and a 12-month high of $436.55. The company has a quick ratio of 2.52, a current ratio of 2.88 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $32.83 billion, a P/E ratio of 127.19, a price-to-earnings-growth ratio of 11.58 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.18. The business had revenue of $504.00 million during the quarter, compared to the consensus estimate of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The firm's revenue was up 34.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Equities research analysts anticipate that Axon Enterprise, Inc. will post 1.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of analyst reports. Robert W. Baird raised their price target on Axon Enterprise from $360.00 to $400.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Jefferies Financial Group began coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a "buy" rating and a $385.00 price target for the company. Bank of America initiated coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They issued a "buy" rating and a $380.00 target price on the stock. Craig Hallum upped their price target on Axon Enterprise from $370.00 to $376.00 and gave the company a "buy" rating in a research report on Wednesday, August 7th. Finally, Barclays upped their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $365.38.

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.