Resona Asset Management Co. Ltd. Takes Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Resona Asset Management Co. Ltd. acquired a new position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 95,655 shares of the biotechnology company’s stock, valued at approximately $57,228,000. Resona Asset Management Co. Ltd. owned about 0.13% of Axon Enterprise at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Alliancebernstein L.P. lifted its stake in Axon Enterprise by 273.8% in the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock valued at $659,128,000 after acquiring an additional 812,337 shares during the last quarter. Norges Bank acquired a new stake in Axon Enterprise in the 4th quarter valued at about $482,081,000. GQG Partners LLC bought a new position in Axon Enterprise during the fourth quarter worth about $478,349,000. Groupama Asset Managment acquired a new position in Axon Enterprise during the third quarter worth approximately $200,000. Finally, Vanguard Group Inc. boosted its stake in shares of Axon Enterprise by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company’s stock worth $5,019,886,000 after acquiring an additional 275,959 shares during the period. Institutional investors own 79.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AXON. Northcoast Research cut Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their target price on shares of Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. JMP Securities restated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. TD Cowen initiated coverage on Axon Enterprise in a research note on Wednesday, January 8th. They set a “buy” rating and a $700.00 target price on the stock. Finally, Craig Hallum downgraded Axon Enterprise from a “buy” rating to a “cautious” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $604.67.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON opened at $497.13 on Friday. Axon Enterprise, Inc. has a 1 year low of $273.52 and a 1 year high of $715.99. The company’s 50 day simple moving average is $582.26 and its 200 day simple moving average is $553.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The stock has a market capitalization of $38.09 billion, a price-to-earnings ratio of 128.46, a price-to-earnings-growth ratio of 5.17 and a beta of 1.13.

Insider Activity at Axon Enterprise

In other news, Director Jeri Williams sold 307 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $552.72, for a total value of $169,685.04. Following the sale, the director now directly owns 1,627 shares in the company, valued at approximately $899,275.44. This trade represents a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.10% of the stock is currently owned by insiders.

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.