Proficio Capital Partners LLC Makes New Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

Proficio Capital Partners LLC purchased a new position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) during the 4th quarter, Holdings Channel reports. The fund purchased 131,939 shares of the biotechnology company’s stock, valued at approximately $78,414,000.

Several other institutional investors also recently modified their holdings of AXON. Groupama Asset Managment acquired a new position in shares of Axon Enterprise during the 3rd quarter worth about $200,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Axon Enterprise during the 3rd quarter worth about $120,553,000. Westfield Capital Management Co. LP increased its stake in shares of Axon Enterprise by 12.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock worth $469,661,000 after purchasing an additional 127,769 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Axon Enterprise by 328.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 145,299 shares of the biotechnology company’s stock worth $86,354,000 after purchasing an additional 111,405 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of Axon Enterprise by 13.9% during the 3rd quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company’s stock worth $272,695,000 after purchasing an additional 83,265 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $639.69, for a total transaction of $639,690.00. Following the completion of the sale, the director now owns 24,259 shares of the company’s stock, valued at approximately $15,518,239.71. This represents a 3.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total transaction of $271,831.50. Following the sale, the director now directly owns 6,929 shares of the company’s stock, valued at approximately $4,185,601.03. This trade represents a 6.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,711 shares of company stock worth $5,631,561 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON opened at $525.63 on Friday. The company’s 50 day moving average price is $611.62 and its two-hundred day moving average price is $522.09. Axon Enterprise, Inc. has a 12-month low of $273.52 and a 12-month high of $715.99. The firm has a market cap of $40.08 billion, a PE ratio of 135.82, a PEG ratio of 5.17 and a beta of 1.05. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AXON. Needham & Company LLC restated a “buy” rating and set a $600.00 price objective on shares of Axon Enterprise in a research note on Wednesday. Northland Securities upped their price target on shares of Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Morgan Stanley upgraded shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Craig Hallum lowered shares of Axon Enterprise from a “buy” rating to a “hold” rating and set a $625.00 price target on the stock. in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group upped their price target on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and an average price target of $587.38.

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.