Federated Hermes Inc. Boosts Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Federated Hermes Inc. lifted its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 25.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,063 shares of the biotechnology company's stock after purchasing an additional 69,567 shares during the quarter. Federated Hermes Inc. owned about 0.44% of Axon Enterprise worth $201,514,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Edgewood Management LLC bought a new stake in Axon Enterprise during the 4th quarter worth approximately $2,734,000. Peapack Gladstone Financial Corp raised its position in Axon Enterprise by 38.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 1,222 shares of the biotechnology company's stock valued at $726,000 after buying an additional 341 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Axon Enterprise by 2.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,198 shares of the biotechnology company's stock worth $712,000 after buying an additional 25 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Axon Enterprise by 24.6% in the 4th quarter. Russell Investments Group Ltd. now owns 71,761 shares of the biotechnology company's stock worth $42,769,000 after buying an additional 14,183 shares during the last quarter. Finally, Wedbush Securities Inc. increased its position in shares of Axon Enterprise by 5.2% during the fourth quarter. Wedbush Securities Inc. now owns 2,284 shares of the biotechnology company's stock valued at $1,357,000 after acquiring an additional 112 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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Axon Enterprise Stock Performance

Shares of NASDAQ:AXON traded up $7.07 during midday trading on Friday, reaching $558.32. 157,690 shares of the company traded hands, compared to its average volume of 810,044. The firm's fifty day moving average price is $568.97 and its two-hundred day moving average price 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 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 12 month low of $273.52 and a 12 month high of $715.99.

Insider Buying and Selling at Axon Enterprise

In other news, Director Jeri Williams sold 307 shares of the firm'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 value of $169,685.04. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $899,275.44. This trade represents a 15.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AXON shares. Craig Hallum lowered Axon Enterprise from a "buy" rating to a "cautious" rating in a research report on Monday, March 10th. JMP Securities restated an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, February 4th. Barclays reaffirmed a "hold" rating on shares of Axon Enterprise in a research report on Monday, March 10th. The Goldman Sachs Group increased their target price on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, Northcoast Research cut shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $604.67.

About Axon Enterprise

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.