Cibc World Market Inc. Lowers Stock Position in Axon Enterprise, Inc $AXON

Cibc World Market Inc. trimmed its position in Axon Enterprise, Inc (NASDAQ:AXON) by 22.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,704 shares of the biotechnology company’s stock after selling 4,620 shares during the quarter. Cibc World Market Inc.’s holdings in Axon Enterprise were worth $11,270,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. raised its position in shares of Axon Enterprise by 4.8% during the 2nd quarter. Westside Investment Management Inc. now owns 283 shares of the biotechnology company’s stock valued at $225,000 after purchasing an additional 13 shares during the period. CVA Family Office LLC increased its stake in Axon Enterprise by 26.9% in the 2nd quarter. CVA Family Office LLC now owns 66 shares of the biotechnology company’s stock worth $55,000 after buying an additional 14 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Axon Enterprise by 2.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 508 shares of the biotechnology company’s stock valued at $421,000 after acquiring an additional 14 shares during the period. Vicus Capital lifted its position in shares of Axon Enterprise by 3.7% in the third quarter. Vicus Capital now owns 396 shares of the biotechnology company’s stock valued at $284,000 after acquiring an additional 14 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its position in shares of Axon Enterprise by 3.8% in the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock valued at $342,000 after acquiring an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AXON. William Blair reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. Barclays lowered their target price on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Wall Street Zen cut shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Northcoast Research upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target on the stock in a report on Tuesday, January 6th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $805.71.

Insiders Place Their Bets

In other news, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $552.60, for a total value of $11,052,000.00. Following the completion of the transaction, the president owned 249,502 shares in the company, valued at approximately $137,874,805.20. The trade was a 7.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $619.01, for a total value of $6,190,100.00. Following the transaction, the chief executive officer directly owned 3,100,997 shares in the company, valued at approximately $1,919,548,152.97. This represents a 0.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 48,040 shares of company stock worth $27,249,338. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise Price Performance

AXON stock opened at $429.67 on Friday. Axon Enterprise, Inc has a 52 week low of $396.41 and a 52 week high of $885.91. The firm has a market capitalization of $33.91 billion, a P/E ratio of 135.97, a price-to-earnings-growth ratio of 13.13 and a beta of 1.48. The company has a fifty day simple moving average of $557.56 and a two-hundred day simple moving average of $648.72. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57.

Axon Enterprise 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.