Axon Enterprise, Inc. (NASDAQ:AXON) Holdings Boosted by Merit Financial Group LLC

Merit Financial Group LLC lifted its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,579 shares of the biotechnology company’s stock after buying an additional 889 shares during the period. Merit Financial Group LLC’s holdings in Axon Enterprise were worth $3,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its stake 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 worth $710,103,000 after acquiring an additional 35,320 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in Axon Enterprise by 12.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock valued at $469,661,000 after purchasing an additional 127,769 shares in the last quarter. Champlain Investment Partners LLC increased its position in Axon Enterprise by 13.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company’s stock worth $272,695,000 after purchasing an additional 83,265 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Axon Enterprise by 1.6% during the 3rd 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 purchasing an additional 9,090 shares in the last quarter. Finally, Groupama Asset Managment bought a new stake in shares of Axon Enterprise in the 3rd quarter valued at approximately $200,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analysts Set New Price Targets

AXON has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. Needham & Company LLC boosted their price target on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Northland Securities increased their price objective on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, November 11th. TD Cowen started coverage on Axon Enterprise in a report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 target price for the company. Finally, Robert W. Baird increased their price target on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, December 6th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $504.92.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $593.89 on Monday. 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 stock has a 50 day moving average price of $617.37 and a 200 day moving average price of $461.15. The stock has a market capitalization of $45.28 billion, a PE ratio of 153.46, a price-to-earnings-growth ratio of 5.71 and a beta of 1.04. Axon Enterprise, Inc. has a 52 week low of $247.04 and a 52 week high of $698.67.

Insider Buying and Selling

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the firm’s 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 transaction, the director now owns 6,929 shares in the company, valued at approximately $4,185,601.03. This trade represents a 6.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julie A. Cullivan sold 1,261 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total transaction of $860,077.66. Following the sale, the director now owns 2,392 shares in the company, valued at $1,631,487.52. This represents a 34.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,545 shares of company stock worth $30,721,337. Company insiders own 5.70% of the company’s stock.

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.