KLP Kapitalforvaltning AS Acquires New Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

KLP Kapitalforvaltning AS acquired a new stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 34,400 shares of the biotechnology company’s stock, valued at approximately $20,445,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in Axon Enterprise during the 4th quarter valued at approximately $40,000. Y.D. More Investments Ltd bought a new stake in shares of Axon Enterprise in the 4th quarter worth $45,000. Prestige Wealth Management Group LLC increased its holdings in shares of Axon Enterprise by 115.8% in the 3rd 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 in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Axon Enterprise in the 4th quarter worth $53,000. Finally, GPS Wealth Strategies Group LLC increased its holdings in shares of Axon Enterprise by 74.1% in 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 in the last quarter. Institutional investors own 79.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AXON. The Goldman Sachs Group lifted 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. TD Cowen began 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. Needham & Company LLC reissued a “buy” rating and issued a $600.00 target price on shares of Axon Enterprise in a report on Wednesday, February 26th. Northcoast Research lowered Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $500.00 to $700.00 in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus price target of $604.67.

Axon Enterprise Price Performance

NASDAQ AXON opened at $560.00 on Friday. The company has a market capitalization of $42.91 billion, a PE ratio of 144.70, a price-to-earnings-growth ratio of 5.17 and a beta of 1.12. 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 business’s fifty day moving average is $591.90 and its 200 day moving average is $542.26. Axon Enterprise, Inc. has a fifty-two week low of $273.52 and a fifty-two week high of $715.99.

Insider Activity at Axon Enterprise

In related news, insider Jeffrey C. Kunins sold 1,035 shares of Axon Enterprise stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $624.47, for a total transaction of $646,326.45. Following the transaction, the insider now directly owns 124,243 shares in the company, valued at approximately $77,586,026.21. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeri Williams sold 307 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $552.72, for a total value of $169,685.04. Following the completion of the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $899,275.44. This trade represents a 15.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,792 shares of company stock worth $1,087,843. Corporate insiders own 5.70% of the company’s stock.

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.