Norges Bank Purchases New Shares in Axon Enterprise, Inc. (NASDAQ:AXON)

Norges Bank bought a new stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 811,148 shares of the biotechnology company's stock, valued at approximately $482,081,000. Norges Bank owned 1.06% of Axon Enterprise at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new position in Axon Enterprise during the 4th quarter valued at $40,000. Y.D. More Investments Ltd bought a new position in shares of Axon Enterprise during the fourth quarter worth about $45,000. Prestige Wealth Management Group LLC grew its stake in Axon Enterprise by 115.8% in the third quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 44 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Axon Enterprise in the fourth quarter valued at about $53,000. Finally, GPS Wealth Strategies Group LLC raised its stake in Axon Enterprise by 74.1% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 94 shares of the biotechnology company's stock valued at $56,000 after buying an additional 40 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on AXON. Northcoast Research cut shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Craig Hallum downgraded Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. Morgan Stanley upgraded Axon Enterprise from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $500.00 to $700.00 in a research report on Tuesday, December 3rd. The Goldman Sachs Group increased 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. Finally, TD Cowen began coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They set a "buy" rating and a $700.00 price target for the company. 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 company has an average rating of "Moderate Buy" and a consensus target price of $604.67.

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Insider Activity at Axon Enterprise

In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total value of $271,831.50. Following the sale, the director now directly owns 6,929 shares of the company's stock, valued at approximately $4,185,601.03. This represents a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeri Williams sold 307 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the sale, the director now directly owns 1,627 shares in the company, valued at approximately $899,275.44. The trade was a 15.87 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock traded up $13.77 on Tuesday, reaching $539.72. 343,679 shares of the stock were exchanged, compared to its average volume of 810,612. Axon Enterprise, Inc. has a one year low of $273.52 and a one year high of $715.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The firm's 50 day moving average is $588.26 and its 200-day moving average is $551.61. The firm has a market cap of $41.35 billion, a PE ratio of 139.46, a P/E/G ratio of 5.17 and a beta of 1.12.

Axon Enterprise 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.