Summit Partners Public Asset Management LLC Sells 13,020 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Summit Partners Public Asset Management LLC decreased its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 19.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,296 shares of the biotechnology company’s stock after selling 13,020 shares during the period. Summit Partners Public Asset Management LLC owned 0.07% of Axon Enterprise worth $20,897,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new position in Axon Enterprise in the 3rd quarter worth approximately $120,553,000. International Assets Investment Management LLC purchased a new position in shares of Axon Enterprise in the third quarter worth $871,860,000. Westfield Capital Management Co. LP boosted its position in shares of Axon Enterprise by 12.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock worth $469,661,000 after acquiring an additional 127,769 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Axon Enterprise by 44.0% during the second quarter. 1832 Asset Management L.P. now owns 375,700 shares of the biotechnology company’s stock valued at $110,546,000 after acquiring an additional 114,800 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in Axon Enterprise by 13.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company’s stock valued at $272,695,000 after acquiring an additional 83,265 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Activity

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 21,834 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $593.88, for a total value of $12,966,775.92. Following the completion of the sale, the insider now directly owns 154,394 shares of the company’s stock, valued at $91,691,508.72. The trade was a 12.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $606.15, for a total transaction of $12,123,000.00. Following the transaction, the president now directly owns 208,166 shares in the company, valued at approximately $126,179,820.90. This trade represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 210,256 shares of company stock valued at $87,783,120. 6.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AXON. The Goldman Sachs Group raised their price objective on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC raised their price target on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a report on Friday, November 8th. JMP Securities upped their price objective on Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Robert W. Baird raised their target price on shares of Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Northland Securities boosted their price target on shares of Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $427.83.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON opened at $634.96 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $48.42 billion, a price-to-earnings ratio of 164.07, a PEG ratio of 13.97 and a beta of 0.94. Axon Enterprise, Inc. has a 12 month low of $224.28 and a 12 month high of $641.20. The firm’s 50-day moving average is $478.27 and its 200 day moving average is $374.80.

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.