Envestnet Asset Management Inc. Boosts Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Envestnet Asset Management Inc. grew its stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,167 shares of the biotechnology company's stock after acquiring an additional 5,474 shares during the period. Envestnet Asset Management Inc. owned 0.11% of Axon Enterprise worth $50,616,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Resona Asset Management Co. Ltd. purchased a new stake in Axon Enterprise in the fourth quarter worth about $57,228,000. Pitcairn Co. bought a new stake in shares of Axon Enterprise in the 4th quarter valued at about $411,000. Spahn Wealth & Retirement LLC purchased a new stake in shares of Axon Enterprise in the 4th quarter worth approximately $8,175,000. Arete Wealth Advisors LLC bought a new position in shares of Axon Enterprise during the fourth quarter valued at approximately $583,000. Finally, World Investment Advisors purchased a new position in Axon Enterprise during the fourth quarter valued at approximately $454,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 owns 1,627 shares of the company's stock, valued at $899,275.44. The trade was a 15.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.10% of the stock is currently owned by company insiders.

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Axon Enterprise Stock Performance

Shares of NASDAQ AXON traded down $0.22 during midday trading on Wednesday, reaching $578.20. The company had a trading volume of 60,645 shares, compared to its average volume of 796,093. The stock has a market cap of $44.30 billion, a P/E ratio of 149.41, a P/E/G ratio of 5.17 and a beta of 1.13. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. Axon Enterprise, Inc. has a 1 year low of $273.52 and a 1 year high of $715.99. The business's 50-day simple moving average is $562.98 and its 200 day simple moving average is $563.07.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AXON shares. Barclays reaffirmed a "hold" rating on shares of Axon Enterprise in a research report on Monday, March 10th. Northcoast Research downgraded Axon Enterprise from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. The Goldman Sachs Group boosted 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. Needham & Company LLC restated a "buy" rating and issued a $600.00 price target on shares of Axon Enterprise in a report on Wednesday, February 26th. Finally, TD Cowen initiated coverage on shares of Axon Enterprise in a research note on Wednesday, January 8th. They set a "buy" rating and a $700.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and a consensus target price of $626.45.

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.