Highland Capital Management LLC Sells 5,649 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Highland Capital Management LLC cut its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 66.0% in the fourth quarter, Holdings Channel reports. The firm owned 2,915 shares of the biotechnology company’s stock after selling 5,649 shares during the quarter. Highland Capital Management LLC’s holdings in Axon Enterprise were worth $1,732,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Groupama Asset Managment acquired a new position in Axon Enterprise in the 3rd quarter worth $200,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Axon Enterprise during the third quarter worth about $120,553,000. International Assets Investment Management LLC acquired a new stake in shares of Axon Enterprise in the third quarter valued at approximately $871,860,000. Westfield Capital Management Co. LP grew its position in Axon Enterprise by 12.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock valued at $469,661,000 after purchasing an additional 127,769 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Axon Enterprise by 328.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 145,299 shares of the biotechnology company’s stock valued at $86,354,000 after buying an additional 111,405 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

Shares of AXON opened at $653.43 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The stock has a market capitalization of $49.82 billion, a price-to-earnings ratio of 168.85, a price-to-earnings-growth ratio of 6.41 and a beta of 1.04. Axon Enterprise, Inc. has a 52-week low of $247.04 and a 52-week high of $698.67. The stock’s 50-day simple moving average is $619.32 and its 200 day simple moving average is $479.00.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction 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 transaction, the president now owns 208,166 shares in the company, valued at $126,179,820.90. This trade represents a 8.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julie A. Cullivan sold 1,261 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $682.06, for a total value of $860,077.66. Following the completion of the sale, the director now directly owns 2,392 shares of the company’s stock, valued at approximately $1,631,487.52. This trade represents a 34.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,545 shares of company stock valued at $30,721,337. 6.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AXON has been the topic of a number of analyst reports. Northland Securities upped their price objective on 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 boosted their target price on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. The Goldman Sachs Group raised their price target on Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a report on Monday. TD Cowen initiated coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price objective on the stock. Finally, Robert W. Baird raised their target price on shares of Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $524.85.

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.