CIBC Asset Management Inc Buys 13,435 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

CIBC Asset Management Inc raised its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 127.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,013 shares of the biotechnology company’s stock after acquiring an additional 13,435 shares during the quarter. CIBC Asset Management Inc’s holdings in Axon Enterprise were worth $14,271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Sector Pension Investment Board grew its stake in Axon Enterprise by 19.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company’s stock worth $1,240,000 after buying an additional 500 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in Axon Enterprise during the 3rd quarter worth $221,000. Sequoia Financial Advisors LLC grew its stake in Axon Enterprise by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock worth $690,000 after buying an additional 81 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in Axon Enterprise during the 3rd quarter worth $814,000. Finally, Soros Capital Management LLC purchased a new position in Axon Enterprise during the 3rd quarter worth $630,000. Institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

AXON has been the topic of several research analyst reports. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $500.00 to $700.00 in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Needham & Company LLC lifted their price target on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Robert W. Baird lifted their price target on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, TD Cowen initiated coverage on Axon Enterprise in a research report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price target for the company. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $542.15.

Insider Activity

In related news, Director Julie A. Cullivan sold 1,261 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total value of $860,077.66. Following the completion of the transaction, the director now owns 2,392 shares of the company’s stock, valued at approximately $1,631,487.52. This represents a 34.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the director now directly owns 6,929 shares of the company’s stock, valued at $4,185,601.03. The trade was a 6.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,711 shares of company stock valued at $5,631,561 in the last quarter. 6.10% of the stock is currently owned by company insiders.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $710.01 on Wednesday. The stock has a market cap of $54.14 billion, a PE ratio of 183.47, a price-to-earnings-growth ratio of 6.79 and a beta of 1.05. The business has a 50-day simple moving average of $625.48 and a 200-day simple moving average of $514.81. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. Axon Enterprise, Inc. has a 52-week low of $260.27 and a 52-week high of $715.99.

Axon Enterprise 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.