Daiwa Securities Group Inc. Grows Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Daiwa Securities Group Inc. lifted its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,927 shares of the biotechnology company’s stock after purchasing an additional 973 shares during the period. Daiwa Securities Group Inc.’s holdings in Axon Enterprise were worth $3,967,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. CIBC Asset Management Inc raised its stake in shares of 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 Axon Enterprise in the 3rd quarter valued at about $221,000. Sequoia Financial Advisors LLC lifted its holdings in Axon Enterprise by 4.9% during the third 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 last quarter. Axxcess Wealth Management LLC bought a new position in Axon Enterprise during the third quarter worth about $814,000. Finally, Jag Capital Management LLC increased its stake in shares of Axon Enterprise by 9.7% in the third quarter. Jag Capital Management LLC now owns 56,086 shares of the biotechnology company’s stock worth $22,412,000 after purchasing an additional 4,954 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Up 2.1 %

NASDAQ AXON opened at $632.16 on Wednesday. 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 stock’s 50-day simple moving average is $468.24 and its two-hundred day simple moving average is $370.65. Axon Enterprise, Inc. has a twelve month low of $224.28 and a twelve month high of $641.20. The company has a market capitalization of $48.21 billion, a price-to-earnings ratio of 163.35, a PEG ratio of 14.02 and a beta of 0.94.

Insider Activity

In other news, Director Julie A. Cullivan sold 900 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $353.53, for a total transaction of $318,177.00. Following the transaction, the director now directly owns 3,653 shares of the company’s stock, valued at approximately $1,291,445.09. This trade represents a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick W. Smith sold 50,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $364.02, for a total value of $18,201,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,980,861 shares of the company’s stock, valued at approximately $1,085,093,021.22. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 260,256 shares of company stock worth $105,984,120. 6.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Needham & Company LLC raised their price objective 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 lifted their price target on Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Craig Hallum raised their target price on Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their price target on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird raised their price objective on shares of Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $427.83.

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.