J.P. Marvel Investment Advisors LLC Takes Position in Axon Enterprise, Inc. (NASDAQ:AXON)

J.P. Marvel Investment Advisors LLC acquired a new stake in Axon Enterprise, Inc. (NASDAQ:AXON) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,911 shares of the biotechnology company’s stock, valued at approximately $6,485,000. Axon Enterprise accounts for approximately 1.1% of J.P. Marvel Investment Advisors LLC’s portfolio, making the stock its 27th biggest holding.

Several other large investors have also modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Axon Enterprise during the fourth quarter worth $40,000. Y.D. More Investments Ltd acquired a new stake in shares of Axon Enterprise during the fourth quarter worth $45,000. Prestige Wealth Management Group LLC lifted its holdings in shares of Axon Enterprise by 115.8% during the third quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 44 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Axon Enterprise during the fourth quarter worth $53,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Axon Enterprise by 74.1% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 94 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 40 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Trading Up 2.8 %

Axon Enterprise stock opened at $683.41 on Friday. The stock has a market cap of $52.11 billion, a PE ratio of 176.59, a P/E/G ratio of 6.79 and a beta of 1.05. The stock has a 50-day moving average price of $623.22 and a 200 day moving average price of $507.71. Axon Enterprise, Inc. has a 52 week low of $260.27 and a 52 week high of $698.67. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling

In related news, insider Jeffrey C. Kunins sold 2,304 shares of Axon Enterprise stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $654.79, for a total transaction of $1,508,636.16. Following the completion of the sale, the insider now owns 128,542 shares in the company, valued at approximately $84,168,016.18. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Julie A. Cullivan sold 1,261 shares of Axon Enterprise stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total value of $860,077.66. Following the sale, the director now owns 2,392 shares of the company’s stock, valued at approximately $1,631,487.52. This represents a 34.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,711 shares of company stock worth $5,631,561. 6.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AXON shares. JMP Securities raised their target price on Axon Enterprise from $610.00 to $725.00 and gave the company a “market outperform” rating in a report on Tuesday, February 4th. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. TD Cowen started coverage on Axon Enterprise in a report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 target price for the company. 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. Finally, Robert W. Baird raised their target price on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $542.15.

Axon Enterprise Company 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.