Prakash Investment Advisors LLC Has $3.77 Million Stake in Axon Enterprise, Inc $AXON

Prakash Investment Advisors LLC lifted its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 128.3% during the 3rd quarter, Holdings Channel reports. The fund owned 5,250 shares of the biotechnology company’s stock after acquiring an additional 2,950 shares during the quarter. Axon Enterprise makes up approximately 2.5% of Prakash Investment Advisors LLC’s portfolio, making the stock its 13th biggest position. Prakash Investment Advisors LLC’s holdings in Axon Enterprise were worth $3,768,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AXON. Brighton Jones LLC acquired a new position in Axon Enterprise in the fourth quarter worth $480,000. NewEdge Advisors LLC raised its holdings in shares of Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after buying an additional 668 shares during the last quarter. Empowered Funds LLC lifted its position in Axon Enterprise by 8.4% during the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after buying an additional 157 shares in the last quarter. Woodline Partners LP grew its holdings in Axon Enterprise by 40.6% during the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after acquiring an additional 2,003 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in Axon Enterprise during the 2nd quarter worth about $284,000. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Stock Up 2.6%

Shares of AXON stock opened at $441.12 on Friday. Axon Enterprise, Inc has a 52-week low of $396.41 and a 52-week high of $885.91. The stock has a market cap of $34.81 billion, a price-to-earnings ratio of 139.60, a PEG ratio of 12.96 and a beta of 1.48. The firm’s 50-day moving average is $547.24 and its 200-day moving average is $640.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12.

Analysts Set New Price Targets

Several analysts have recently commented on AXON shares. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Wall Street Zen downgraded Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research note on Monday, December 29th. Piper Sandler dropped their price target on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, The Goldman Sachs Group cut their price objective on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $786.43.

Insider Activity

In related news, CFO Brittany Bagley sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $580.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief financial officer directly owned 103,501 shares in the company, valued at approximately $60,030,580. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Jennifer H. Mak sold 1,134 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $600.00, for a total value of $680,400.00. Following the transaction, the chief accounting officer owned 13,740 shares in the company, valued at approximately $8,244,000. This trade represents a 7.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 48,040 shares of company stock worth $27,249,338. Insiders own 4.40% of the company’s stock.

Axon Enterprise Company Profile

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.