Edgewood Management LLC Takes Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Edgewood Management LLC acquired a new position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) during the 4th quarter, HoldingsChannel reports. The firm acquired 4,600 shares of the biotechnology company’s stock, valued at approximately $2,734,000.

A number of other large investors have also recently bought and sold shares of AXON. Vanguard Group Inc. raised its position in shares of Axon Enterprise by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company’s stock worth $5,019,886,000 after purchasing an additional 275,959 shares during the period. Geode Capital Management LLC grew its stake in Axon Enterprise by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company’s stock worth $1,095,542,000 after buying an additional 65,097 shares during the last quarter. Alliancebernstein L.P. increased its position in Axon Enterprise by 273.8% in the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock worth $659,128,000 after buying an additional 812,337 shares during the period. Norges Bank acquired a new position in shares of Axon Enterprise during the fourth quarter valued at $482,081,000. Finally, GQG Partners LLC bought a new position in shares of Axon Enterprise during the fourth quarter worth about $478,349,000. Institutional investors own 79.08% of the company’s stock.

Insider Transactions at Axon Enterprise

In related news, Director Jeri Williams sold 307 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the sale, the director now directly owns 1,627 shares in the company, valued at approximately $899,275.44. This trade represents a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AXON. Northcoast Research lowered shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. Barclays reiterated a “hold” rating on shares of Axon Enterprise in a research report on Monday, March 10th. Craig Hallum downgraded Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. TD Cowen began coverage on Axon Enterprise in a research report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $600.00 price target on shares of Axon Enterprise in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and an average price target of $604.67.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $497.13 on Friday. Axon Enterprise, Inc. has a 52 week low of $273.52 and a 52 week high of $715.99. 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 cap of $38.09 billion, a PE ratio of 128.46, a price-to-earnings-growth ratio of 5.17 and a beta of 1.13. The company’s 50-day moving average price is $582.26 and its two-hundred day moving average price is $554.66.

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.