ProShare Advisors LLC Has $71.29 Million Position in Axon Enterprise, Inc $AXON

ProShare Advisors LLC cut its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 16.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,338 shares of the biotechnology company’s stock after selling 19,809 shares during the quarter. ProShare Advisors LLC owned 0.13% of Axon Enterprise worth $71,289,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AXON. Linden Thomas Advisory Services LLC lifted its position in shares of Axon Enterprise by 3.9% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 1,071 shares of the biotechnology company’s stock worth $769,000 after acquiring an additional 40 shares during the period. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co raised its stake in shares of Axon Enterprise by 70.0% in the third quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co now owns 2,829 shares of the biotechnology company’s stock valued at $2,030,000 after purchasing an additional 1,165 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Axon Enterprise by 10.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 6,648 shares of the biotechnology company’s stock worth $4,771,000 after purchasing an additional 618 shares during the period. Candriam S.C.A. boosted its stake in Axon Enterprise by 2.2% during the third quarter. Candriam S.C.A. now owns 5,844 shares of the biotechnology company’s stock worth $4,194,000 after buying an additional 128 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its stake in Axon Enterprise by 3.6% during the third quarter. New York Life Investment Management LLC now owns 11,446 shares of the biotechnology company’s stock worth $8,214,000 after buying an additional 402 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Transactions at Axon Enterprise

In related news, insider Jeffrey C. Kunins sold 1,797 shares of Axon Enterprise stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $539.23, for a total value of $968,996.31. Following the completion of the transaction, the insider directly owned 83,485 shares of the company’s stock, valued at $45,017,616.55. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brittany Bagley sold 2,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $580.00, for a total transaction of $1,160,000.00. Following the transaction, the chief financial officer owned 103,501 shares in the company, valued at approximately $60,030,580. This trade represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 48,040 shares of company stock worth $27,249,338. 5.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on AXON. Morgan Stanley reduced their price objective on shares of Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Piper Sandler cut their price target on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Monday, December 29th. UBS Group cut their target price on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Finally, Northcoast Research raised Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target on the stock in a research note on Tuesday, January 6th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $805.71.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $433.77 on Tuesday. The stock has a market capitalization of $34.23 billion, a P/E ratio of 137.27, a price-to-earnings-growth ratio of 12.48 and a beta of 1.48. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57. Axon Enterprise, Inc has a 1 year low of $396.41 and a 1 year high of $885.91. The firm has a 50 day moving average of $566.28 and a 200-day moving average of $655.91.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.