Beese Fulmer Investment Management Inc. Reduces Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Beese Fulmer Investment Management Inc. decreased its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,068 shares of the biotechnology company’s stock after selling 73 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Axon Enterprise were worth $2,418,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AXON. Public Sector Pension Investment Board grew its stake in shares of Axon Enterprise by 19.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company’s stock valued at $1,240,000 after buying an additional 500 shares during the period. CIBC Asset Management Inc lifted its holdings in Axon Enterprise by 9.2% in the third quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock valued at $4,227,000 after acquiring an additional 895 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in Axon Enterprise in the third quarter worth approximately $221,000. Sequoia Financial Advisors LLC increased its stake in Axon Enterprise by 4.9% during the third quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock worth $690,000 after acquiring an additional 81 shares during the last quarter. Finally, Axxcess Wealth Management LLC purchased a new stake in Axon Enterprise in the third quarter valued at $814,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AXON. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. TD Cowen initiated coverage on shares of Axon Enterprise in a research note on Wednesday, January 8th. They set a “buy” rating and a $700.00 target price for the company. The Goldman Sachs Group boosted their price target on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JMP Securities increased their price objective on shares of Axon Enterprise from $610.00 to $725.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Finally, Northland Securities lifted their target price on shares of Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $542.15.

Axon Enterprise Trading Down 0.5 %

Shares of NASDAQ:AXON opened at $677.40 on Friday. Axon Enterprise, Inc. has a 52 week low of $255.68 and a 52 week high of $698.67. The company’s 50 day moving average is $622.79 and its two-hundred day moving average is $491.30. The company has a market cap of $51.65 billion, a PE ratio of 175.04, a P/E/G ratio of 6.54 and a beta of 1.05. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling at Axon Enterprise

In related news, President Joshua Isner sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $606.15, for a total value of $12,123,000.00. Following the completion of the sale, the president now directly owns 208,166 shares of the company’s stock, valued at $126,179,820.90. The trade was a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $639.69, for a total value of $639,690.00. Following the transaction, the director now directly owns 24,259 shares in the company, valued at approximately $15,518,239.71. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,545 shares of company stock worth $30,721,337 over the last ninety days. Corporate 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.