Primecap Management Co. CA Sells 30,100 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Primecap Management Co. CA lessened its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 39.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,500 shares of the biotechnology company’s stock after selling 30,100 shares during the period. Primecap Management Co. CA owned about 0.06% of Axon Enterprise worth $27,636,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of AXON. Asset Dedication LLC raised its stake in Axon Enterprise by 11.3% in the fourth quarter. Asset Dedication LLC now owns 178 shares of the biotechnology company’s stock valued at $106,000 after buying an additional 18 shares during the period. Bleakley Financial Group LLC raised its stake in Axon Enterprise by 1.3% in the fourth quarter. Bleakley Financial Group LLC now owns 1,527 shares of the biotechnology company’s stock valued at $908,000 after buying an additional 20 shares during the period. Venturi Wealth Management LLC raised its stake in Axon Enterprise by 2.7% in the fourth quarter. Venturi Wealth Management LLC now owns 802 shares of the biotechnology company’s stock valued at $477,000 after buying an additional 21 shares during the period. Insigneo Advisory Services LLC raised its stake in Axon Enterprise by 1.4% in the third quarter. Insigneo Advisory Services LLC now owns 1,568 shares of the biotechnology company’s stock valued at $627,000 after buying an additional 22 shares during the period. Finally, Menard Financial Group LLC raised its stake in Axon Enterprise by 0.8% in the third quarter. Menard Financial Group LLC now owns 3,014 shares of the biotechnology company’s stock valued at $1,204,000 after buying an additional 24 shares during the period. Institutional investors own 79.08% of the company’s stock.

Insider Activity

In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of Axon Enterprise stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total value of $271,831.50. Following the transaction, the director now owns 6,929 shares in the company, valued at approximately $4,185,601.03. This trade represents a 6.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey C. Kunins sold 1,035 shares of Axon Enterprise stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $624.47, for a total value of $646,326.45. Following the completion of the transaction, the insider now owns 124,243 shares in the company, valued at approximately $77,586,026.21. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,792 shares of company stock worth $1,087,843. Insiders own 5.70% of the company’s stock.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $568.11 on Thursday. The stock’s fifty day moving average price is $592.48 and its two-hundred day moving average price is $539.47. Axon Enterprise, Inc. has a one year low of $273.52 and a one year high of $715.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The firm has a market cap of $43.53 billion, a PE ratio of 146.80, a price-to-earnings-growth ratio of 5.17 and a beta of 1.12.

Analyst Upgrades and Downgrades

AXON has been the topic of several research analyst reports. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and set a $600.00 target price on shares of Axon Enterprise in a research note on Wednesday, February 26th. TD Cowen assumed coverage on Axon Enterprise in a report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price target for the company. The Goldman Sachs Group lifted their price target on Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, JMP Securities reissued an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $604.67.

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.