Rhumbline Advisers Decreases Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Rhumbline Advisers cut its position in Axon Enterprise, Inc. (NASDAQ:AXON) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,359 shares of the biotechnology company’s stock after selling 3,525 shares during the quarter. Rhumbline Advisers owned 0.19% of Axon Enterprise worth $86,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AXON. Public Sector Pension Investment Board raised its holdings in Axon Enterprise by 19.2% in the third quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company’s stock valued at $1,240,000 after acquiring an additional 500 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Axon Enterprise by 9.2% in the third quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock valued at $4,227,000 after acquiring an additional 895 shares in the last quarter. Foundations Investment Advisors LLC acquired a new stake in Axon Enterprise in the third quarter valued at $221,000. Sequoia Financial Advisors LLC raised its holdings in Axon Enterprise by 4.9% in the third quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after acquiring an additional 81 shares in the last quarter. Finally, Axxcess Wealth Management LLC acquired a new stake in Axon Enterprise in the third quarter valued at $814,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Axon Enterprise

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total value of $271,831.50. Following the completion of the transaction, the director now owns 6,929 shares in the company, valued at $4,185,601.03. This represents a 6.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey C. Kunins sold 1,035 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $624.47, for a total transaction of $646,326.45. Following the transaction, the insider now owns 124,243 shares of the company’s stock, valued at approximately $77,586,026.21. This trade represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,711 shares of company stock worth $5,631,561 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Axon Enterprise Stock Performance

Shares of AXON opened at $683.41 on Friday. The firm has a 50-day moving average price of $623.22 and a 200 day moving average price of $507.71. The firm has a market capitalization of $52.11 billion, a PE ratio of 176.59, a P/E/G ratio of 6.79 and a beta of 1.05. 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 $260.27 and a 52-week high of $698.67.

Wall Street Analysts Forecast Growth

AXON has been the topic of several recent analyst reports. Robert W. Baird upped their price target on shares of Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, December 6th. TD Cowen started coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They set a “buy” rating and a $700.00 target price on the stock. JMP Securities increased their target price on shares of Axon Enterprise from $610.00 to $725.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 4th. Morgan Stanley raised shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group increased their target price on shares of Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $542.15.

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.