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

Fortis Capital Management LLC acquired a new stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 465 shares of the biotechnology company's stock, valued at approximately $276,000.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Axon Enterprise by 17.5% during the third quarter. PNC Financial Services Group Inc. now owns 5,627 shares of the biotechnology company's stock valued at $2,249,000 after acquiring an additional 840 shares during the last quarter. Jennison Associates LLC increased its stake in Axon Enterprise by 48.2% in the third quarter. Jennison Associates LLC now owns 3,977 shares of the biotechnology company's stock valued at $1,589,000 after purchasing an additional 1,294 shares in the last quarter. King Luther Capital Management Corp increased its stake in Axon Enterprise by 0.3% in the third quarter. King Luther Capital Management Corp now owns 10,474 shares of the biotechnology company's stock valued at $4,185,000 after purchasing an additional 34 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Axon Enterprise during the third quarter valued at about $120,553,000. Finally, Champlain Investment Partners LLC boosted its position in shares of Axon Enterprise by 13.9% during the 3rd quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company's stock worth $272,695,000 after purchasing an additional 83,265 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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Axon Enterprise Stock Up 0.8 %

Axon Enterprise stock traded up $4.66 during midday trading on Tuesday, hitting $577.18. 436,075 shares of the stock were exchanged, compared to its average volume of 835,213. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $44.23 billion, a price-to-earnings ratio of 149.14, a price-to-earnings-growth ratio of 5.17 and a beta of 1.12. Axon Enterprise, Inc. has a 52-week low of $273.52 and a 52-week high of $715.99. The business's 50-day moving average price is $591.98 and its 200-day moving average price is $545.11.

Insider Transactions at Axon Enterprise

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business's 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 transaction, the director now directly owns 6,929 shares of the company's stock, valued at approximately $4,185,601.03. The trade was a 6.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeri Williams sold 307 shares of Axon Enterprise stock in a transaction dated Monday, March 17th. The stock was 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 directly owns 1,627 shares in the company, valued at approximately $899,275.44. This represents a 15.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AXON. Barclays reaffirmed a "hold" rating on shares of Axon Enterprise in a research report on Monday, March 10th. The Goldman Sachs Group upped their target price on Axon Enterprise from $500.00 to $700.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Needham & Company LLC reissued a "buy" rating and issued a $600.00 price target on shares of Axon Enterprise in a research report on Wednesday, February 26th. TD Cowen assumed coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They set a "buy" rating and a $700.00 price objective on the stock. Finally, Morgan Stanley upgraded shares of Axon Enterprise from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Axon Enterprise currently has an average rating of "Moderate Buy" and a consensus price target 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.