Neo Ivy Capital Management Acquires Shares of 6,746 Axon Enterprise, Inc. (NASDAQ:AXON)

Neo Ivy Capital Management acquired a new stake in Axon Enterprise, Inc. (NASDAQ:AXON) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,746 shares of the biotechnology company’s stock, valued at approximately $2,696,000. Axon Enterprise accounts for approximately 0.9% of Neo Ivy Capital Management’s investment portfolio, making the stock its 15th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its position in Axon Enterprise by 19.2% in the third quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company’s stock valued at $1,240,000 after purchasing an additional 500 shares during the period. CIBC Asset Management Inc raised its position in Axon Enterprise by 9.2% in the third quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock valued at $4,227,000 after purchasing an additional 895 shares during the period. Foundations Investment Advisors LLC purchased a new position in Axon Enterprise in the third quarter valued at about $221,000. Sequoia Financial Advisors LLC raised its position in Axon Enterprise by 4.9% in the third quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 81 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new position in Axon Enterprise in the third quarter valued at about $814,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Down 0.8 %

NASDAQ:AXON opened at $637.45 on Wednesday. The company has a market capitalization of $48.61 billion, a price-to-earnings ratio of 164.72, a price-to-earnings-growth ratio of 15.13 and a beta of 1.01. Axon Enterprise, Inc. has a one year low of $235.33 and a one year high of $698.67. The stock has a 50-day simple moving average of $525.87 and a 200 day simple moving average of $398.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96.

Insider Buying and Selling

In other Axon Enterprise news, Director Julie A. Cullivan sold 1,261 shares of Axon Enterprise stock in a transaction that occurred on 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 directly owns 2,392 shares in the company, valued at $1,631,487.52. The trade was a 34.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey C. Kunins sold 2,304 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $654.79, for a total value of $1,508,636.16. Following the completion of the transaction, the insider now owns 128,542 shares of the company’s stock, valued at approximately $84,168,016.18. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,928 shares of company stock worth $50,820,792. Corporate insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

AXON has been the topic of several research reports. Needham & Company LLC raised their price objective on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group lifted their target price on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $500.00 to $700.00 in a research report on Tuesday, December 3rd. Robert W. Baird lifted their target price 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, Northland Securities lifted their target price on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and an average price target of $488.67.

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.