Primecap Management Co. CA Sells 30,100 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Primecap Management Co. CA lowered its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 39.3% during the fourth quarter, HoldingsChannel reports. The fund owned 46,500 shares of the biotechnology company’s stock after selling 30,100 shares during the quarter. Primecap Management Co. CA’s holdings in Axon Enterprise were worth $27,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Axon Enterprise by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,782,828 shares of the biotechnology company’s stock worth $710,103,000 after buying an additional 35,320 shares during the period. Westfield Capital Management Co. LP lifted its holdings in 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 buying an additional 127,769 shares during the period. Champlain Investment Partners LLC lifted its holdings in Axon Enterprise by 13.9% during the 3rd quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company’s stock worth $272,695,000 after buying an additional 83,265 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Axon Enterprise by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 561,263 shares of the biotechnology company’s stock worth $224,281,000 after buying an additional 9,090 shares during the period. Finally, Groupama Asset Managment acquired a new position in Axon Enterprise during the 3rd quarter worth about $200,000. Institutional investors own 79.08% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeri Williams sold 307 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $552.72, for a total value of $169,685.04. Following the completion of the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at $899,275.44. This represents a 15.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey C. Kunins sold 1,035 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $624.47, for a total value of $646,326.45. Following the completion of the transaction, the insider now directly owns 124,243 shares of the company’s stock, valued at approximately $77,586,026.21. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,792 shares of company stock valued at $1,087,843. Corporate insiders own 5.70% of the company’s stock.

Axon Enterprise Stock Performance

Shares of AXON opened at $568.11 on Thursday. 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 50 day moving average price of $592.48 and a two-hundred day moving average price of $539.47. The firm has a market capitalization of $43.53 billion, a P/E ratio of 146.80, a P/E/G ratio of 5.17 and a beta of 1.12. Axon Enterprise, Inc. has a 52 week low of $273.52 and a 52 week high of $715.99.

Wall Street Analyst Weigh In

AXON has been the topic of several recent research reports. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. Northcoast Research downgraded Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. JMP Securities reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. The Goldman Sachs Group boosted their price objective on Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Craig Hallum downgraded Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $604.67.

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.