Edgewood Management LLC Takes Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Edgewood Management LLC purchased a new stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,600 shares of the biotechnology company's stock, valued at approximately $2,734,000.

Other hedge funds have also recently modified their holdings of the company. Public Sector Pension Investment Board boosted its position in Axon Enterprise by 19.2% during 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 purchasing an additional 500 shares in the last quarter. Friedenthal Financial boosted its holdings in shares of Axon Enterprise by 961.7% in the 4th quarter. Friedenthal Financial now owns 1,359 shares of the biotechnology company's stock valued at $808,000 after buying an additional 1,231 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Axon Enterprise by 33.1% in the 3rd quarter. Principal Financial Group Inc. now owns 136,302 shares of the biotechnology company's stock valued at $54,466,000 after buying an additional 33,869 shares in the last quarter. XTX Topco Ltd grew its position in shares of Axon Enterprise by 20.6% in the 3rd quarter. XTX Topco Ltd now owns 5,650 shares of the biotechnology company's stock worth $2,258,000 after buying an additional 964 shares during the last quarter. Finally, Artemis Investment Management LLP raised its stake in shares of Axon Enterprise by 21.4% during the 4th quarter. Artemis Investment Management LLP now owns 95,113 shares of the biotechnology company's stock worth $56,528,000 after acquiring an additional 16,792 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

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Axon Enterprise Stock Up 1.3 %

Shares of NASDAQ AXON traded up $7.07 during midday trading on Friday, hitting $558.32. The company's stock had a trading volume of 157,690 shares, compared to its average volume of 810,044. Axon Enterprise, Inc. has a 1 year low of $273.52 and a 1 year high of $715.99. The business's fifty day simple moving average is $568.97 and its two-hundred day simple moving average is $559.34. The firm has a market capitalization of $42.78 billion, a price-to-earnings ratio of 144.27, a price-to-earnings-growth ratio of 5.17 and a beta of 1.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63.

Insiders Place Their Bets

In other news, Director Jeri Williams sold 307 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at approximately $899,275.44. The trade was a 15.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AXON shares. Needham & Company LLC reiterated a "buy" rating and set a $600.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 26th. Craig Hallum cut Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. The Goldman Sachs Group boosted their price target on Axon Enterprise from $500.00 to $700.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Barclays reaffirmed a "hold" rating on shares of Axon Enterprise in a research report on Monday, March 10th. Finally, TD Cowen started coverage on shares of Axon Enterprise in a research note on Wednesday, January 8th. They issued a "buy" rating and a $700.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and an average target price of $604.67.

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.