Cullinan Associates Inc. Cuts Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Cullinan Associates Inc. reduced its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 500 shares of the biotechnology company’s stock after selling 200 shares during the quarter. Cullinan Associates Inc.’s holdings in Axon Enterprise were worth $297,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in AXON. Public Sector Pension Investment Board lifted 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 worth $1,240,000 after acquiring an additional 500 shares during the period. CIBC Asset Management Inc lifted its position in Axon Enterprise by 9.2% during the 3rd quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock worth $4,227,000 after acquiring an additional 895 shares during the period. Foundations Investment Advisors LLC acquired a new stake in Axon Enterprise during the 3rd quarter worth approximately $221,000. Sequoia Financial Advisors LLC raised its stake in shares of 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 buying an additional 81 shares in the last quarter. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Axon Enterprise in the 3rd quarter valued at approximately $814,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on AXON shares. JMP Securities raised their price target on Axon Enterprise from $610.00 to $725.00 and gave the company a “market outperform” rating in a report on Tuesday. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. Northland Securities lifted their price objective on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Robert W. Baird lifted their price objective on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, TD Cowen started coverage on Axon Enterprise in a report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price objective for the company. One research 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 has an average rating of “Moderate Buy” and an average price target of $542.15.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total transaction of $271,831.50. Following the transaction, the director now owns 6,929 shares in the company, valued at $4,185,601.03. The trade was a 6.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $639.69, for a total value of $639,690.00. Following the transaction, the director now owns 24,259 shares in the company, valued at approximately $15,518,239.71. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,545 shares of company stock valued at $30,721,337. Company insiders own 5.70% of the company’s stock.

Axon Enterprise Price Performance

AXON stock opened at $662.91 on Wednesday. The stock has a 50-day moving average price of $621.03 and a two-hundred day moving average price of $488.66. Axon Enterprise, Inc. has a 12-month low of $252.20 and a 12-month high of $698.67. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The company has a market cap of $50.55 billion, a PE ratio of 171.30, a price-to-earnings-growth ratio of 6.54 and a beta of 1.05.

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.