Primecap Management Co. CA Reduces Stock Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Primecap Management Co. CA lowered its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 16.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,600 shares of the biotechnology company’s stock after selling 15,100 shares during the quarter. Primecap Management Co. CA owned 0.10% of Axon Enterprise worth $30,609,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. 1832 Asset Management L.P. purchased a new position in shares of Axon Enterprise during the 1st quarter valued at about $81,630,000. International Assets Investment Management LLC purchased a new position in Axon Enterprise during the third quarter valued at approximately $871,860,000. Swedbank AB purchased a new position in Axon Enterprise during the first quarter valued at approximately $39,923,000. Mizuho Securities USA LLC boosted its position in Axon Enterprise by 1,077.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 64,418 shares of the biotechnology company’s stock worth $25,741,000 after purchasing an additional 58,949 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Axon Enterprise by 53.2% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 157,094 shares of the biotechnology company’s stock worth $46,223,000 after purchasing an additional 54,526 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insiders Place Their Bets

In other news, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction on 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey C. Kunins sold 8,182 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $364.86, for a total transaction of $2,985,284.52. Following the sale, the insider now owns 176,228 shares of the company’s stock, valued at approximately $64,298,548.08. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 330,256 shares of company stock valued at $131,338,820 in the last ninety days. 6.10% of the stock is currently owned by corporate insiders.

Axon Enterprise Stock Performance

AXON opened at $632.04 on Friday. Axon Enterprise, Inc. has a twelve month low of $224.28 and a twelve month high of $640.51. The firm has a market capitalization of $48.19 billion, a PE ratio of 163.32, a PEG ratio of 18.26 and a beta of 0.94. 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 firm’s 50-day moving average price is $458.43 and its 200 day moving average price is $365.54.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AXON shares. The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Craig Hallum raised their target price on Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Robert W. Baird upped their price target on Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays raised their price objective on Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, JMP Securities upped their target price on Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $427.83.

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.