Navellier & Associates Inc. Has $5.55 Million Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Navellier & Associates Inc. trimmed its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 6.1% during the third quarter, HoldingsChannel reports. The fund owned 13,878 shares of the biotechnology company’s stock after selling 906 shares during the period. Axon Enterprise comprises about 0.8% of Navellier & Associates Inc.’s investment portfolio, making the stock its 29th largest position. Navellier & Associates Inc.’s holdings in Axon Enterprise were worth $5,546,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. grew its position in shares of Axon Enterprise by 987.5% in the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 79 shares during the period. Quent Capital LLC grew its position in shares of Axon Enterprise by 1,875.0% in the 3rd quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 75 shares during the period. Asset Dedication LLC bought a new position in shares of Axon Enterprise in the 2nd quarter valued at about $47,000. Planning Capital Management Corp grew its position in shares of Axon Enterprise by 83.3% in the 3rd quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 55 shares during the period. Finally, Friedenthal Financial bought a new position in shares of Axon Enterprise in the 3rd quarter valued at about $51,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $617.77 on Thursday. The firm has a 50 day moving average of $453.48 and a 200-day moving average of $363.68. The stock has a market capitalization of $47.10 billion, a PE ratio of 157.58, a PEG ratio of 18.26 and a beta of 0.94. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. Axon Enterprise, Inc. has a 12 month low of $224.28 and a 12 month high of $624.84.

Insider Activity

In other Axon Enterprise news, CEO Patrick W. Smith sold 80,300 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the sale, the chief executive officer now directly owns 3,015,366 shares of the company’s stock, valued at $1,121,052,771.48. The trade was a 2.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julie A. Cullivan sold 900 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $353.53, for a total transaction of $318,177.00. Following the completion of the sale, the director now directly owns 3,653 shares in the company, valued at approximately $1,291,445.09. This represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 410,556 shares of company stock worth $161,192,754. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Northland Securities lifted their price objective on shares of Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. JMP Securities raised their target price on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC raised their target price on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Robert W. Baird raised their target price on shares of Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Barclays lifted their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and an average target price of $427.83.

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.