CMC Financial Group Makes New Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

CMC Financial Group bought a new position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 365 shares of the biotechnology company’s stock, valued at approximately $217,000. Axon Enterprise makes up 0.5% of CMC Financial Group’s investment portfolio, making the stock its 29th biggest holding.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Axon Enterprise by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company’s stock worth $5,019,886,000 after purchasing an additional 275,959 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Axon Enterprise by 2.0% in the third quarter. Geode Capital Management LLC now owns 1,782,828 shares of the biotechnology company’s stock worth $710,103,000 after acquiring an additional 35,320 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Axon Enterprise by 12.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock worth $469,661,000 after acquiring an additional 127,769 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Axon Enterprise by 1.6% in the third 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 acquiring an additional 9,090 shares during the last quarter. Finally, Groupama Asset Managment acquired a new position in shares of Axon Enterprise in the third quarter worth $200,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AXON has been the subject of a number of analyst reports. Barclays reissued a “hold” rating on shares of Axon Enterprise in a report on Monday, March 10th. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. JMP Securities reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Robert W. Baird upped their target price on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, TD Cowen started coverage on Axon Enterprise in a research note on Wednesday, January 8th. They issued a “buy” rating and a $700.00 target price for the company. One equities research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $604.67.

Insider Transactions at Axon Enterprise

In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total value of $271,831.50. Following the completion of the sale, the director now owns 6,929 shares of the company’s stock, valued at $4,185,601.03. This represents a 6.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeri Williams sold 307 shares of the company’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 completion of the sale, the director now directly owns 1,627 shares of the company’s stock, valued at $899,275.44. The trade was a 15.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $560.00 on Monday. Axon Enterprise, Inc. has a 1-year low of $273.52 and a 1-year high of $715.99. The business has a 50-day moving average of $591.90 and a 200-day moving average of $543.57. 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 company has a market capitalization of $42.91 billion, a price-to-earnings ratio of 144.70, a PEG ratio of 5.17 and a beta of 1.12.

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.