Arrowroot Family Office LLC Lowers Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Arrowroot Family Office LLC lessened its stake in Axon Enterprise, Inc. (NASDAQ:AXON) by 41.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,396 shares of the biotechnology company’s stock after selling 972 shares during the quarter. Arrowroot Family Office LLC’s holdings in Axon Enterprise were worth $558,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Axon Enterprise in the 3rd quarter worth $120,553,000. International Assets Investment Management LLC acquired a new position in shares of Axon Enterprise in the 3rd quarter valued at about $871,860,000. Westfield Capital Management Co. LP grew its holdings 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 period. 1832 Asset Management L.P. increased its position in Axon Enterprise by 44.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 375,700 shares of the biotechnology company’s stock worth $110,546,000 after purchasing an additional 114,800 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its position in Axon Enterprise by 13.9% during the third quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company’s stock valued at $272,695,000 after buying an additional 83,265 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Axon Enterprise Stock Performance

Shares of AXON opened at $646.96 on Monday. The stock has a market capitalization of $49.33 billion, a PE ratio of 167.17, a price-to-earnings-growth ratio of 14.24 and a beta of 0.94. The business’s fifty day moving average price is $488.25 and its 200 day moving average price is $379.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. Axon Enterprise, Inc. has a 12-month low of $224.28 and a 12-month high of $652.22.

Insider Transactions at Axon Enterprise

In other news, CEO Patrick W. Smith sold 75,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $356.53, for a total transaction of $26,739,750.00. Following the completion of the transaction, the chief executive officer now owns 2,970,366 shares in the company, valued at approximately $1,059,024,589.98. This represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $606.15, for a total transaction of $12,123,000.00. Following the completion of the sale, the president now owns 208,166 shares in the company, 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. In the last three months, insiders have sold 210,256 shares of company stock worth $87,783,120. 6.10% of the stock is currently owned by insiders.

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.