Proficio Capital Partners LLC Takes Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Proficio Capital Partners LLC bought a new stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 131,939 shares of the biotechnology company's stock, valued at approximately $78,414,000. Axon Enterprise accounts for approximately 1.0% of Proficio Capital Partners LLC's investment portfolio, making the stock its 10th largest holding. Proficio Capital Partners LLC owned approximately 0.17% of Axon Enterprise at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Axon Enterprise by 2.0% in the third quarter. Geode Capital Management LLC now owns 1,782,828 shares of the biotechnology company's stock valued at $710,103,000 after purchasing an additional 35,320 shares during the period. Westfield Capital Management Co. LP grew its holdings in Axon Enterprise by 12.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company's stock worth $469,661,000 after acquiring an additional 127,769 shares during the period. Champlain Investment Partners LLC grew its holdings in Axon Enterprise by 13.9% during the third quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company's stock worth $272,695,000 after acquiring an additional 83,265 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Axon Enterprise by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 561,263 shares of the biotechnology company's stock worth $224,281,000 after acquiring an additional 9,090 shares during the period. Finally, Groupama Asset Managment acquired a new position in Axon Enterprise during the third quarter worth $200,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $534.56 on Friday. The business's 50-day moving average price is $595.56 and its 200 day moving average price is $532.90. Axon Enterprise, Inc. has a twelve month low of $273.52 and a twelve month high of $715.99. The company has a market capitalization of $40.96 billion, a PE ratio of 138.13, a price-to-earnings-growth ratio of 5.17 and a beta of 1.12. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32.

Insiders Place Their Bets

In other news, insider Jeffrey C. Kunins sold 1,035 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $624.47, for a total value of $646,326.45. Following the completion of the sale, the insider now owns 124,243 shares in the company, valued at approximately $77,586,026.21. This trade represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the 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 completion of the sale, the director now owns 6,929 shares of the company's stock, valued at approximately $4,185,601.03. This trade represents a 6.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,146 shares of company stock worth $3,262,847 over the last three months. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AXON. Robert W. Baird upped their price objective on Axon Enterprise from $600.00 to $800.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. JMP Securities reaffirmed an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, February 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $600.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 26th. Morgan Stanley raised Axon Enterprise from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. Finally, Craig Hallum downgraded Axon Enterprise from a "buy" rating to a "cautious" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $604.67.

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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.

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