Federated Hermes Inc. Raises Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Federated Hermes Inc. lifted its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 25.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 339,063 shares of the biotechnology company’s stock after purchasing an additional 69,567 shares during the quarter. Federated Hermes Inc. owned about 0.44% of Axon Enterprise worth $201,514,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Edgewood Management LLC purchased a new position in Axon Enterprise in the fourth quarter valued at about $2,734,000. Peapack Gladstone Financial Corp grew its holdings in shares of Axon Enterprise by 38.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 1,222 shares of the biotechnology company’s stock worth $726,000 after acquiring an additional 341 shares during the period. Quadrant Capital Group LLC increased its stake in Axon Enterprise by 2.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,198 shares of the biotechnology company’s stock valued at $712,000 after purchasing an additional 25 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Axon Enterprise by 24.6% during the fourth quarter. Russell Investments Group Ltd. now owns 71,761 shares of the biotechnology company’s stock worth $42,769,000 after purchasing an additional 14,183 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its position in Axon Enterprise by 5.2% during the fourth quarter. Wedbush Securities Inc. now owns 2,284 shares of the biotechnology company’s stock worth $1,357,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $497.13 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 company has a market cap of $38.09 billion, a price-to-earnings ratio of 128.46, a PEG ratio of 5.17 and a beta of 1.13. Axon Enterprise, Inc. has a 1 year low of $273.52 and a 1 year high of $715.99. The firm has a 50 day moving average price of $582.26 and a 200 day moving average price of $554.66.

Insider Transactions at Axon Enterprise

In other news, Director Jeri Williams sold 307 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $552.72, for a total value of $169,685.04. Following the transaction, the director now directly owns 1,627 shares in the company, valued at $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 available through this hyperlink. Insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AXON. Barclays reaffirmed a “hold” rating on shares of Axon Enterprise in a research note on Monday, March 10th. Craig Hallum cut shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research report on Monday, March 10th. Needham & Company LLC reiterated a “buy” rating and issued a $600.00 price target on shares of Axon Enterprise in a research report on Wednesday, February 26th. JMP Securities restated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group increased their target price on Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $604.67.

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.