King Luther Capital Management Corp Raises Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

King Luther Capital Management Corp increased its stake in Axon Enterprise, Inc. (NASDAQ:AXON) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,474 shares of the biotechnology company’s stock after purchasing an additional 34 shares during the quarter. King Luther Capital Management Corp’s holdings in Axon Enterprise were worth $4,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AXON. PFG Investments LLC increased its holdings in Axon Enterprise by 0.6% in the third quarter. PFG Investments LLC now owns 3,872 shares of the biotechnology company’s stock valued at $1,547,000 after buying an additional 25 shares in the last quarter. Gladstone Institutional Advisory LLC grew its holdings in shares of Axon Enterprise by 1.6% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,641 shares of the biotechnology company’s stock worth $656,000 after acquiring an additional 26 shares during the period. Mather Group LLC. increased its stake in Axon Enterprise by 3.7% in the 3rd quarter. Mather Group LLC. now owns 759 shares of the biotechnology company’s stock valued at $303,000 after purchasing an additional 27 shares in the last quarter. CWM LLC raised its holdings in Axon Enterprise by 1.3% during the third quarter. CWM LLC now owns 2,856 shares of the biotechnology company’s stock worth $1,141,000 after purchasing an additional 36 shares during the last quarter. Finally, SPC Financial Inc. boosted its position in Axon Enterprise by 2.2% during the third quarter. SPC Financial Inc. now owns 1,773 shares of the biotechnology company’s stock worth $708,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Buying and Selling

In related news, President Joshua Isner sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $606.15, for a total value of $12,123,000.00. Following the sale, the president now directly owns 208,166 shares of the company’s stock, valued at approximately $126,179,820.90. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick W. Smith sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $356.53, for a total transaction of $26,739,750.00. Following the transaction, the chief executive officer now directly owns 2,970,366 shares of the company’s stock, valued at $1,059,024,589.98. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 330,256 shares of company stock worth $131,338,820. 6.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AXON shares. Northland Securities raised their price target on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Craig Hallum raised their target price on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Barclays upped their price target on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Needham & Company LLC raised their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Robert W. Baird upped their target price on Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Axon Enterprise presently has an average rating of “Moderate Buy” and an average price target of $427.83.

Axon Enterprise Price Performance

AXON stock opened at $636.95 on Friday. The stock has a market capitalization of $48.57 billion, a price-to-earnings ratio of 164.59, a price-to-earnings-growth ratio of 18.26 and a beta of 0.94. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. Axon Enterprise, Inc. has a 52-week low of $224.28 and a 52-week high of $641.20. The stock’s fifty day simple moving average is $458.43 and its 200-day simple moving average is $365.54.

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.