Bessemer Group Inc. Sells 72,363 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Bessemer Group Inc. lowered its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 21.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,435 shares of the biotechnology company’s stock after selling 72,363 shares during the quarter. Bessemer Group Inc. owned 0.36% of Axon Enterprise worth $161,913,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alliancebernstein L.P. boosted its holdings in Axon Enterprise by 273.8% during the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock worth $659,128,000 after purchasing an additional 812,337 shares during the last quarter. Norges Bank purchased a new position in shares of Axon Enterprise in the 4th quarter worth approximately $482,081,000. GQG Partners LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth approximately $478,349,000. Groupama Asset Managment bought a new position in shares of Axon Enterprise in the third quarter valued at approximately $200,000. Finally, Vanguard Group Inc. lifted its holdings in Axon Enterprise by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company’s stock worth $5,019,886,000 after acquiring an additional 275,959 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value of $169,685.04. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by corporate insiders.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $504.03 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. Axon Enterprise, Inc. has a fifty-two week low of $273.52 and a fifty-two week high of $715.99. The stock has a market cap of $38.62 billion, a PE ratio of 130.24, a price-to-earnings-growth ratio of 5.17 and a beta of 1.13. The stock has a fifty day moving average of $574.82 and a 200-day moving average of $557.07.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $600.00 price objective on shares of Axon Enterprise in a research note on Wednesday, February 26th. Northcoast Research lowered shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Craig Hallum cut shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. The Goldman Sachs Group increased their target price on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, TD Cowen began coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus target price of $604.67.

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.