Norges Bank Buys Shares of 811,148 Axon Enterprise, Inc. (NASDAQ:AXON)

Norges Bank purchased a new stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 811,148 shares of the biotechnology company’s stock, valued at approximately $482,081,000. Norges Bank owned about 1.06% of Axon Enterprise at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AXON. The Manufacturers Life Insurance Company increased its holdings in Axon Enterprise by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,643 shares of the biotechnology company’s stock valued at $17,440,000 after purchasing an additional 276 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Axon Enterprise during the third quarter worth $84,000. Brooklyn Investment Group acquired a new stake in shares of Axon Enterprise in the third quarter valued at $41,000. Townsquare Capital LLC acquired a new position in Axon Enterprise during the 3rd quarter worth about $261,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Axon Enterprise by 13.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,492 shares of the biotechnology company’s stock valued at $20,177,000 after acquiring an additional 5,834 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axon Enterprise news, Director Jeri Williams sold 307 shares of the firm’s stock in a transaction 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 sale, the director now owns 1,627 shares of the company’s stock, valued at approximately $899,275.44. This trade represents a 15.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total transaction of $271,831.50. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $534.95 on Friday. Axon Enterprise, Inc. has a one year low of $273.52 and a one year high of $715.99. The stock has a market capitalization of $40.99 billion, a price-to-earnings ratio of 138.23, a PEG ratio of 5.17 and a beta of 1.12. The company has a 50-day simple moving average of $589.62 and a 200-day simple moving average of $547.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96.

Analyst Ratings Changes

AXON has been the topic of several research reports. TD Cowen assumed coverage on shares of Axon Enterprise in a research report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price target on the stock. Craig Hallum lowered Axon Enterprise from a “buy” rating to a “cautious” rating in a report on Monday, March 10th. Northcoast Research lowered Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. JMP Securities reissued an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. Finally, Barclays reaffirmed a “hold” rating on shares of Axon Enterprise in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus price target of $604.67.

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.