Primecap Management Co. CA Sells 30,100 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Primecap Management Co. CA lessened its position in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 39.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,500 shares of the biotechnology company's stock after selling 30,100 shares during the period. Primecap Management Co. CA owned 0.06% of Axon Enterprise worth $27,636,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Axxcess Wealth Management LLC increased its stake in shares of Axon Enterprise by 44.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,941 shares of the biotechnology company's stock valued at $1,748,000 after buying an additional 904 shares during the period. Signaturefd LLC increased its position in Axon Enterprise by 15.9% during the 4th quarter. Signaturefd LLC now owns 759 shares of the biotechnology company's stock valued at $451,000 after purchasing an additional 104 shares during the period. Parallel Advisors LLC raised its holdings in Axon Enterprise by 8.8% in the 4th quarter. Parallel Advisors LLC now owns 962 shares of the biotechnology company's stock worth $572,000 after purchasing an additional 78 shares in the last quarter. Cibc World Markets Corp lifted its position in shares of Axon Enterprise by 35.1% in the 4th quarter. Cibc World Markets Corp now owns 13,118 shares of the biotechnology company's stock worth $7,796,000 after purchasing an additional 3,406 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in shares of Axon Enterprise by 16.3% during the 4th quarter. Corient Private Wealth LLC now owns 8,182 shares of the biotechnology company's stock valued at $4,863,000 after purchasing an additional 1,146 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 Performance

NASDAQ:AXON traded up $12.52 on Monday, hitting $572.52. The stock had a trading volume of 689,483 shares, compared to its average volume of 842,467. The business's 50-day simple moving average is $591.90 and its two-hundred day simple moving average is $543.57. 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 cap of $43.87 billion, a price-to-earnings ratio of 147.94, 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.

Insider Buying and Selling

In related news, Director Jeri Williams sold 307 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $552.72, for a total value of $169,685.04. Following the transaction, the director now directly owns 1,627 shares of the company's stock, valued at approximately $899,275.44. The trade was a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now owns 6,929 shares of the company's stock, valued at $4,185,601.03. The trade was a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AXON. Robert W. Baird increased their price target on shares of Axon Enterprise from $600.00 to $800.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Morgan Stanley raised Axon Enterprise from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $500.00 to $700.00 in a research report on Tuesday, December 3rd. TD Cowen began coverage on Axon Enterprise in a research report on Wednesday, January 8th. They set a "buy" rating and a $700.00 price target on the stock. Northcoast Research downgraded Axon Enterprise from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a "buy" rating in a report on Monday, January 27th. 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.