Eagle Asset Management Inc. Reduces Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Eagle Asset Management Inc. cut its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 19.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 362,650 shares of the biotechnology company’s stock after selling 90,323 shares during the period. Axon Enterprise makes up about 0.8% of Eagle Asset Management Inc.’s portfolio, making the stock its 27th biggest holding. Eagle Asset Management Inc.’s holdings in Axon Enterprise were worth $144,915,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quent Capital LLC raised its position in Axon Enterprise by 1,875.0% during the third quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 75 shares during the period. Blue Trust Inc. lifted its position in Axon Enterprise by 987.5% in the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock worth $27,000 after buying an additional 79 shares during the last quarter. Planning Capital Management Corp boosted its stake in Axon Enterprise by 83.3% during the third quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock worth $48,000 after buying an additional 55 shares during the period. Friedenthal Financial purchased a new position in Axon Enterprise during the third quarter worth $51,000. Finally, Reston Wealth Management LLC bought a new position in Axon Enterprise during the third quarter valued at $60,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

AXON stock opened at $632.04 on Friday. Axon Enterprise, Inc. has a one year low of $224.28 and a one year high of $640.51. The firm has a market cap of $48.19 billion, a price-to-earnings ratio of 163.32, a PEG ratio of 18.26 and a beta of 0.94. 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 firm has a 50-day simple moving average of $458.43 and a two-hundred day simple moving average of $365.54.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JMP Securities lifted their price target 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. The Goldman Sachs Group boosted their price objective on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Northland Securities increased their target price on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird lifted their target price on Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC boosted their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $427.83.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 70,000 shares of Axon Enterprise stock in a transaction on Monday, August 26th. The shares were sold at an average price of $362.21, for a total transaction of $25,354,700.00. Following the completion of the sale, the chief executive officer now directly owns 2,945,366 shares in the company, valued at approximately $1,066,841,018.86. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Joshua Isner sold 25,811 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $359.84, for a total value of $9,287,830.24. Following the completion of the transaction, the president now directly owns 228,166 shares in the company, valued at approximately $82,103,253.44. The trade was a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 330,256 shares of company stock worth $131,338,820 in the last 90 days. 6.10% of the stock is owned by corporate insiders.

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.