Motley Fool Asset Management LLC Sells 9,544 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Motley Fool Asset Management LLC cut its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 108,966 shares of the biotechnology company’s stock after selling 9,544 shares during the period. Axon Enterprise accounts for 2.6% of Motley Fool Asset Management LLC’s holdings, making the stock its 7th biggest position. Motley Fool Asset Management LLC’s holdings in Axon Enterprise were worth $43,501,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in shares of 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 purchasing an additional 895 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in Axon Enterprise in the 3rd quarter valued at approximately $221,000. Sequoia Financial Advisors LLC grew its holdings in Axon Enterprise by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after buying an additional 81 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in Axon Enterprise during the third quarter worth $814,000. Finally, Soros Capital Management LLC acquired a new position in shares of Axon Enterprise in the third quarter worth $630,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Needham & Company LLC lifted their price objective on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Craig Hallum boosted their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley raised shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $500.00 to $700.00 in a research note on Tuesday. The Goldman Sachs Group lifted their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird increased their price target on Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $460.33.

Insider Activity

In related news, President Joshua Isner sold 25,811 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $359.84, for a total value of $9,287,830.24. Following the transaction, the president now owns 228,166 shares in the company, valued at approximately $82,103,253.44. This trade represents a 10.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeri Williams sold 110 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $400.00, for a total transaction of $44,000.00. Following the sale, the director now owns 1,934 shares of the company’s stock, valued at approximately $773,600. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 135,256 shares of company stock valued at $61,043,370 in the last three months. Corporate insiders own 5.70% of the company’s stock.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $669.87 on Wednesday. The business’s fifty day moving average price is $493.10 and its 200 day moving average price is $382.63. Axon Enterprise, Inc. has a twelve month low of $229.02 and a twelve month high of $675.47. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $51.08 billion, a P/E ratio of 173.09, a PEG ratio of 14.00 and a beta of 1.01.

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.