Segment Wealth Management LLC Makes New Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

Segment Wealth Management LLC purchased a new stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) in the 4th quarter, HoldingsChannel reports. The fund purchased 3,696 shares of the biotechnology company’s stock, valued at approximately $2,197,000.

A number of other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board increased its position in Axon Enterprise by 19.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company’s stock valued at $1,240,000 after buying an additional 500 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Axon Enterprise by 9.2% in the 3rd quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock valued at $4,227,000 after purchasing an additional 895 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in Axon Enterprise in the 3rd quarter worth approximately $221,000. Sequoia Financial Advisors LLC grew its position in Axon Enterprise by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock worth $690,000 after purchasing an additional 81 shares during the last quarter. Finally, Axxcess Wealth Management LLC acquired a new position in Axon Enterprise during the 3rd quarter valued at approximately $814,000. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Stock Performance

AXON opened at $593.89 on Tuesday. The firm’s fifty day simple moving average is $616.92 and its two-hundred day simple moving average is $463.24. Axon Enterprise, Inc. has a 52-week low of $247.04 and a 52-week high of $698.67. The company has a market cap of $45.28 billion, a price-to-earnings ratio of 153.46, a PEG ratio of 5.95 and a beta of 1.04. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of research reports. Robert W. Baird lifted their target price on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Morgan Stanley raised shares of 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 report on Tuesday, December 3rd. Needham & Company LLC raised their target price on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Northland Securities upped 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. Finally, The Goldman Sachs Group lifted their price objective on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus price target of $504.92.

Insider Activity at Axon Enterprise

In other news, President Joshua Isner sold 20,000 shares of the company’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 sale, the president now owns 208,166 shares of the company’s stock, valued at $126,179,820.90. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey C. Kunins sold 21,834 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $593.88, for a total transaction of $12,966,775.92. Following the transaction, the insider now owns 154,394 shares in the company, valued at $91,691,508.72. The trade was a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,545 shares of company stock valued at $30,721,337. 5.70% of the stock is owned by corporate insiders.

Axon Enterprise 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.