Independent Advisor Alliance Reduces Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Independent Advisor Alliance trimmed its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,509 shares of the biotechnology company’s stock after selling 48 shares during the period. Independent Advisor Alliance’s holdings in Axon Enterprise were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Westfield Capital Management Co. LP boosted its holdings 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 boosted its holdings in shares of Axon Enterprise by 13.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company’s stock valued at $272,695,000 after buying an additional 83,265 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Axon Enterprise by 44.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 375,700 shares of the biotechnology company’s stock valued at $110,546,000 after buying an additional 114,800 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Axon Enterprise by 13.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 368,732 shares of the biotechnology company’s stock worth $108,496,000 after acquiring an additional 45,049 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Axon Enterprise in the third quarter valued at $120,553,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AXON shares. JMP Securities raised their price objective on Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Northland Securities raised their price target on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Needham & Company LLC boosted their price objective on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays upped their price target on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $427.83.

Axon Enterprise Trading Up 2.1 %

NASDAQ AXON opened at $632.16 on Wednesday. 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 capitalization of $48.20 billion, a P/E ratio of 163.35, a P/E/G ratio of 13.62 and a beta of 0.94. Axon Enterprise, Inc. has a 52-week low of $224.28 and a 52-week high of $641.20. The firm has a 50-day moving average price of $468.24 and a 200 day moving average price of $370.65.

Insiders Place Their Bets

In related news, CEO Patrick W. Smith sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $364.02, for a total value of $18,201,000.00. Following the completion of the sale, the chief executive officer now owns 2,980,861 shares in the company, valued at $1,085,093,021.22. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Joshua Isner sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $606.15, for a total transaction of $12,123,000.00. Following the transaction, the president now owns 208,166 shares in the company, valued at $126,179,820.90. The trade was a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 260,256 shares of company stock worth $105,984,120. Company insiders own 5.70% of the company’s stock.

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.