Point72 Hong Kong Ltd Makes New Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

Point72 Hong Kong Ltd bought a new stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,404 shares of the biotechnology company’s stock, valued at approximately $2,959,000.

Several other hedge funds also recently modified their holdings of the business. CIBC Asset Management Inc lifted its holdings in Axon Enterprise by 9.2% in the third quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock valued at $4,227,000 after buying an additional 895 shares during the period. Foundations Investment Advisors LLC bought a new stake in shares of Axon Enterprise during the 3rd quarter valued at $221,000. Sequoia Financial Advisors LLC lifted its stake in shares of Axon Enterprise by 4.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 81 shares during the period. Axxcess Wealth Management LLC bought a new position in shares of Axon Enterprise in the 3rd quarter worth $814,000. Finally, Soros Capital Management LLC acquired a new stake in shares of Axon Enterprise during the third quarter worth $630,000. Institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Robert W. Baird increased their target price on Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Northland Securities lifted their price objective on shares of Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Needham & Company LLC increased their target price on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. JMP Securities boosted their price target on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Finally, Barclays lifted their target price on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $427.83.

Axon Enterprise Stock Up 1.9 %

NASDAQ:AXON opened at $646.96 on Monday. The stock has a 50-day simple moving average of $488.25 and a 200 day simple moving average of $379.59. Axon Enterprise, Inc. has a 52-week low of $224.28 and a 52-week high of $652.22. The company has a market cap of $49.33 billion, a PE ratio of 167.17, a PEG ratio of 14.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96.

Insiders Place Their Bets

In related news, insider Jeffrey C. Kunins sold 8,182 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $364.86, for a total transaction of $2,985,284.52. Following the sale, the insider now owns 176,228 shares in the company, valued at approximately $64,298,548.08. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Joshua Isner sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $606.15, for a total value of $12,123,000.00. Following the completion of the transaction, the president now owns 208,166 shares of the company’s stock, valued at approximately $126,179,820.90. This 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 210,256 shares of company stock valued at $87,783,120 in the last quarter. 6.10% of the stock is currently owned by insiders.

Axon Enterprise 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.