IFP Advisors Inc Raises Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

IFP Advisors Inc grew its position in Axon Enterprise, Inc. (NASDAQ:AXON) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 952 shares of the biotechnology company’s stock after acquiring an additional 67 shares during the period. IFP Advisors Inc’s holdings in Axon Enterprise were worth $566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial River Investments LLC boosted its holdings in shares of Axon Enterprise by 5.5% in the fourth quarter. Colonial River Investments LLC now owns 1,573 shares of the biotechnology company’s stock valued at $935,000 after acquiring an additional 82 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Axon Enterprise by 16.2% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,200 shares of the biotechnology company’s stock valued at $7,251,000 after acquiring an additional 1,700 shares in the last quarter. Howard Capital Management Inc. purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at about $313,000. WESPAC Advisors LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at about $897,000. Finally, Wealthspire Advisors LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at about $220,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Activity

In other news, insider Jeffrey C. Kunins sold 2,304 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $654.79, for a total value of $1,508,636.16. Following the completion of the transaction, the insider now owns 128,542 shares of the company’s stock, valued at $84,168,016.18. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Joshua Isner sold 1,291 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $642.43, for a total transaction of $829,377.13. Following the completion of the transaction, the president now directly owns 181,892 shares of the company’s stock, valued at approximately $116,852,877.56. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,711 shares of company stock valued at $5,631,561 over the last 90 days. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Northcoast Research downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. TD Cowen initiated coverage on shares of Axon Enterprise in a research note on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price objective for the company. Morgan Stanley upgraded shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Barclays set a $726.00 price objective on shares of Axon Enterprise and gave the company an “overweight” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $600.00 price objective on shares of Axon Enterprise in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $587.38.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $528.45 on Friday. The firm has a 50 day simple moving average of $609.55 and a 200-day simple moving average of $523.20. 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 firm has a market cap of $40.30 billion, a PE ratio of 136.55, a P/E/G ratio of 5.17 and a beta of 1.05. Axon Enterprise, Inc. has a 1-year low of $273.52 and a 1-year high of $715.99.

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.