Rice Partnership LLC Grows Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Rice Partnership LLC lifted its position in Axon Enterprise, Inc. (NASDAQ:AXON) by 19.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 602 shares of the biotechnology company’s stock after purchasing an additional 100 shares during the period. Rice Partnership LLC’s holdings in Axon Enterprise were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AXON. Public Sector Pension Investment Board raised its holdings in 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 worth $1,240,000 after purchasing an additional 500 shares during the period. CIBC Asset Management Inc raised its holdings in Axon Enterprise by 9.2% in the 3rd quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock worth $4,227,000 after purchasing an additional 895 shares during the period. Foundations Investment Advisors LLC bought a new position in Axon Enterprise in the 3rd quarter worth $221,000. Sequoia Financial Advisors LLC raised its holdings in Axon Enterprise by 4.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock worth $690,000 after purchasing an additional 81 shares during the period. Finally, Axxcess Wealth Management LLC bought a new position in Axon Enterprise in the 3rd quarter worth $814,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Julie A. Cullivan sold 1,261 shares of Axon Enterprise stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total value of $860,077.66. Following the completion of the transaction, the director now owns 2,392 shares in the company, valued at approximately $1,631,487.52. This trade represents a 34.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey C. Kunins sold 21,834 shares of Axon Enterprise stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $593.88, for a total value of $12,966,775.92. Following the completion of the transaction, the insider now owns 154,394 shares of the company’s stock, valued at approximately $91,691,508.72. This represents a 12.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,545 shares of company stock worth $30,721,337 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

AXON has been the topic of a number of recent research reports. Northland Securities raised their target price on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Robert W. Baird raised their target price on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. JMP Securities raised their price target on Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. Finally, TD Cowen assumed coverage on Axon Enterprise in a report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price target on the stock. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus target price of $524.85.

Axon Enterprise Trading Down 0.2 %

Shares of Axon Enterprise stock opened at $652.18 on Monday. The firm has a market cap of $49.73 billion, a price-to-earnings ratio of 168.52, a PEG ratio of 6.54 and a beta of 1.05. The business has a 50-day moving average price of $619.63 and a 200-day moving average price of $483.68. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. Axon Enterprise, Inc. has a twelve month low of $247.04 and a twelve month high of $698.67.

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.