Artemis Investment Management LLP Increases Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Artemis Investment Management LLP lifted its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 21.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,113 shares of the biotechnology company’s stock after acquiring an additional 16,792 shares during the quarter. Artemis Investment Management LLP owned 0.12% of Axon Enterprise worth $56,528,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Axon Enterprise by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,782,828 shares of the biotechnology company’s stock valued at $710,103,000 after acquiring an additional 35,320 shares during the period. Westfield Capital Management Co. LP lifted its stake in Axon Enterprise by 12.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock valued at $469,661,000 after purchasing an additional 127,769 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in Axon Enterprise by 13.9% during the third quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company’s stock valued at $272,695,000 after purchasing an additional 83,265 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Axon Enterprise by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 561,263 shares of the biotechnology company’s stock valued at $224,281,000 after buying an additional 9,090 shares during the period. Finally, Groupama Asset Managment bought a new stake in shares of Axon Enterprise in the third quarter valued at $200,000. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Stock Performance

Shares of AXON opened at $593.89 on Friday. Axon Enterprise, Inc. has a 12-month low of $247.04 and a 12-month high of $698.67. 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 company has a market cap of $45.28 billion, a PE ratio of 153.46, a price-to-earnings-growth ratio of 5.71 and a beta of 1.04. The stock has a 50-day moving average price of $617.37 and a 200-day moving average price of $459.99.

Insider Buying and Selling at Axon Enterprise

In other news, insider Jeffrey C. Kunins sold 21,834 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $593.88, for a total transaction of $12,966,775.92. Following the transaction, the insider now directly owns 154,394 shares in the company, valued at approximately $91,691,508.72. This represents a 12.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction that occurred 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 directly owns 208,166 shares in the company, valued at $126,179,820.90. This trade represents a 8.77 % decrease in their ownership of the stock. 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 three months. 5.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley upgraded shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Robert W. Baird boosted their price target on shares of Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. JMP Securities raised their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Finally, TD Cowen assumed coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They set a “buy” rating and a $700.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $504.92.

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.