Resona Asset Management Co. Ltd. Makes New Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

Resona Asset Management Co. Ltd. purchased a new stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) during the fourth quarter, Holdings Channel reports. The fund purchased 95,655 shares of the biotechnology company’s stock, valued at approximately $57,228,000.

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

Insiders Place Their Bets

In other news, Director Jeri Williams sold 307 shares of the firm’s stock in a transaction on 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 directly owns 1,627 shares of the company’s stock, valued at $899,275.44. This trade represents a 15.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 6.10% of the company’s stock.

Axon Enterprise Stock Down 7.9 %

AXON opened at $497.13 on Friday. Axon Enterprise, Inc. has a fifty-two week low of $273.52 and a fifty-two week high of $715.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The company’s 50-day moving average is $582.26 and its 200 day moving average is $553.47. The firm has a market capitalization of $38.09 billion, a P/E ratio of 128.46, a PEG ratio of 5.17 and a beta of 1.13.

Wall Street Analyst Weigh In

AXON has been the subject of several recent research reports. TD Cowen began coverage on Axon Enterprise in a research note on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price target for the company. Barclays reiterated a “hold” rating on shares of Axon Enterprise in a report on Monday, March 10th. Northcoast Research downgraded Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC restated a “buy” rating and set a $600.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 26th. Finally, 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 report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.