Los Angeles Capital Management LLC Makes New Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

Los Angeles Capital Management LLC bought a new stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,774 shares of the biotechnology company’s stock, valued at approximately $709,000.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Axon Enterprise in the first quarter valued at $340,000. M&G Plc purchased a new stake in shares of Axon Enterprise during the 1st quarter valued at approximately $12,312,000. Vanguard Group Inc. boosted its holdings in Axon Enterprise by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock worth $2,547,878,000 after buying an additional 212,401 shares during the period. Acadian Asset Management LLC bought a new position in Axon Enterprise in the 1st quarter worth approximately $2,137,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Axon Enterprise during the first quarter worth $1,043,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $599.35 on Friday. Axon Enterprise, Inc. has a 52-week low of $220.78 and a 52-week high of $624.84. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average is $438.79 and its 200 day moving average is $357.27. The company has a market cap of $45.70 billion, a price-to-earnings ratio of 154.87, a PEG ratio of 15.10 and a beta of 0.94.

Insider Activity at Axon Enterprise

In related news, Director Jeri Williams sold 110 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $400.00, for a total transaction of $44,000.00. Following the completion of the sale, the director now directly owns 1,934 shares in the company, valued at $773,600. This represents a 5.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Joshua Isner sold 25,811 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $359.84, for a total transaction of $9,287,830.24. Following the completion of the transaction, the president now directly owns 228,166 shares in the company, valued at approximately $82,103,253.44. The trade was a 10.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,006 shares of company stock worth $161,360,618 in the last 90 days. 6.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AXON shares. Needham & Company LLC lifted their price target on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Barclays increased their price target on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. The Goldman Sachs Group boosted their price objective on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Northland Securities upped their target price on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Craig Hallum raised their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $427.83.

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.