Handelsbanken Fonder AB Cuts Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Handelsbanken Fonder AB decreased its position in Axon Enterprise, Inc. (NASDAQ:AXON) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,302 shares of the biotechnology company’s stock after selling 6,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Axon Enterprise were worth $22,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Public Sector Pension Investment Board increased its position in Axon Enterprise by 19.2% in the third 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 last quarter. CIBC Asset Management Inc grew its stake in shares of 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 buying an additional 895 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of Axon Enterprise in the 3rd quarter worth about $221,000. Sequoia Financial Advisors LLC raised its position in shares of Axon Enterprise by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after buying an additional 81 shares in the last quarter. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of Axon Enterprise during the 3rd quarter valued at about $814,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Trading Down 5.3 %

NASDAQ AXON opened at $513.22 on Friday. The stock has a market cap of $39.13 billion, a PE ratio of 132.62, a PEG ratio of 5.95 and a beta of 1.05. Axon Enterprise, Inc. has a 12 month low of $265.32 and a 12 month high of $715.99. The company’s 50-day moving average price is $619.94 and its 200-day moving average price is $517.11. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JMP Securities boosted their price objective on Axon Enterprise from $610.00 to $725.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 4th. Robert W. Baird lifted 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. Craig Hallum cut Axon Enterprise from a “buy” rating to a “hold” rating and set a $625.00 target price for the company. in a report on Thursday. Needham & Company LLC lifted their target price on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Northland Securities lifted 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. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $561.31.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, Director Julie A. Cullivan sold 1,261 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total transaction of $860,077.66. Following the transaction, the director now directly owns 2,392 shares in the company, valued at $1,631,487.52. This trade represents a 34.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey C. Kunins sold 2,304 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $654.79, for a total value of $1,508,636.16. Following the completion of the sale, the insider now owns 128,542 shares of the company’s stock, valued at $84,168,016.18. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,711 shares of company stock valued at $5,631,561 in the last three months. Company insiders own 6.10% of the company’s stock.

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.