Neo Ivy Capital Management Invests $2.70 Million in Axon Enterprise, Inc. (NASDAQ:AXON)

Neo Ivy Capital Management acquired a new position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,746 shares of the biotechnology company’s stock, valued at approximately $2,696,000. Axon Enterprise accounts for about 0.9% of Neo Ivy Capital Management’s holdings, making the stock its 15th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Coldstream Capital Management Inc. raised its holdings in Axon Enterprise by 254.2% during the third quarter. Coldstream Capital Management Inc. now owns 7,524 shares of the biotechnology company’s stock worth $3,032,000 after purchasing an additional 5,400 shares in the last quarter. Synergy Financial Group LTD raised its holdings in Axon Enterprise by 4.9% during the third quarter. Synergy Financial Group LTD now owns 747 shares of the biotechnology company’s stock worth $299,000 after purchasing an additional 35 shares in the last quarter. Geode Capital Management LLC raised its holdings in Axon Enterprise by 2.0% during the third quarter. Geode Capital Management LLC now owns 1,782,828 shares of the biotechnology company’s stock worth $710,103,000 after purchasing an additional 35,320 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in Axon Enterprise by 115.8% during the third quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 44 shares in the last quarter. Finally, Groupama Asset Managment bought a new stake in Axon Enterprise during the third quarter worth approximately $200,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Patrick W. Smith sold 47,314 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $400.07, for a total value of $18,928,911.98. Following the transaction, the chief executive officer now directly owns 2,983,802 shares of the company’s stock, valued at approximately $1,193,729,666.14. This represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julie A. Cullivan sold 1,261 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total transaction of $860,077.66. Following the completion of the transaction, the director now directly owns 2,392 shares in the company, valued at $1,631,487.52. This trade represents a 34.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,928 shares of company stock worth $50,820,792 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

Axon Enterprise Price Performance

AXON opened at $637.45 on Wednesday. The stock has a fifty day moving average of $525.87 and a 200-day moving average of $398.80. The firm has a market capitalization of $48.61 billion, a P/E ratio of 164.72, a PEG ratio of 15.13 and a beta of 1.01. Axon Enterprise, Inc. has a 12-month low of $235.33 and a 12-month high of $698.67. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32.

Analyst Ratings Changes

AXON has been the topic of several recent analyst reports. JMP Securities boosted their target price on Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Robert W. Baird boosted 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. Needham & Company LLC boosted their target price on 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 Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $488.67.

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.