Financial Advocates Investment Management Decreases Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Financial Advocates Investment Management decreased its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,765 shares of the biotechnology company’s stock after selling 111 shares during the period. Financial Advocates Investment Management’s holdings in Axon Enterprise were worth $8,775,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Groupama Asset Managment bought a new position in shares of Axon Enterprise during the 3rd quarter valued at $200,000. Massachusetts Financial Services Co. MA bought a new position in Axon Enterprise in the third quarter valued at about $120,553,000. International Assets Investment Management LLC purchased a new position in Axon Enterprise in the third quarter worth about $871,860,000. Westfield Capital Management Co. LP grew its stake 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 valued at $469,661,000 after purchasing an additional 127,769 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Axon Enterprise by 328.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 145,299 shares of the biotechnology company’s stock valued at $86,354,000 after purchasing an additional 111,405 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

AXON stock opened at $680.52 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The company’s fifty day moving average price is $621.94 and its 200-day moving average price is $490.00. Axon Enterprise, Inc. has a one year low of $255.58 and a one year high of $698.67. The company has a market capitalization of $51.89 billion, a PE ratio of 175.85, a price-to-earnings-growth ratio of 6.54 and a beta of 1.05.

Insider Buying and Selling at Axon Enterprise

In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the stock in a transaction that occurred on 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 directly owns 6,929 shares in the company, valued at approximately $4,185,601.03. This represents a 6.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey C. Kunins sold 1,035 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $624.47, for a total transaction of $646,326.45. Following the completion of the sale, the insider now owns 124,243 shares in the company, valued at $77,586,026.21. This represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,545 shares of company stock worth $30,721,337. Insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Northland Securities raised their price objective on shares of Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Morgan Stanley raised shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $500.00 to $700.00 in a research report on Tuesday, December 3rd. JMP Securities raised their target price on Axon Enterprise from $610.00 to $725.00 and gave the stock a “market outperform” rating in a report on Tuesday. Needham & Company LLC boosted their price target on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, TD Cowen started coverage on Axon Enterprise in a research note on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $542.15.

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.