Granite Point Capital Management L.P. lifted its stake in Axon Enterprise Inc (NASDAQ:AAXN) by 58.6% in the fourth quarter, HoldingsChannel reports. The firm owned 81,200 shares of the industrial products company’s stock after acquiring an additional 30,000 shares during the quarter. Axon Enterprise comprises 0.2% of Granite Point Capital Management L.P.’s portfolio, making the stock its 26th largest holding. Granite Point Capital Management L.P.’s holdings in Axon Enterprise were worth $2,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of AAXN. Alliancebernstein L.P. purchased a new stake in shares of Axon Enterprise in the second quarter worth approximately $2,043,000. Teachers Advisors LLC purchased a new stake in shares of Axon Enterprise in the second quarter worth approximately $2,371,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Axon Enterprise in the second quarter worth approximately $3,570,000. Nationwide Fund Advisors purchased a new stake in shares of Axon Enterprise in the second quarter worth approximately $752,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Axon Enterprise in the second quarter worth approximately $102,000. 95.45% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on AAXN. Zacks Investment Research raised shares of Axon Enterprise from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 17th. BidaskClub lowered shares of Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 11th. JPMorgan Chase & Co. increased their price target on shares of Axon Enterprise from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, December 21st. Oppenheimer reissued a “hold” rating on shares of Axon Enterprise in a research report on Friday, November 17th. Finally, Dougherty & Co reduced their price target on shares of Axon Enterprise from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Axon Enterprise presently has a consensus rating of “Hold” and a consensus price target of $29.20.

Axon Enterprise Inc (AAXN) opened at $25.61 on Tuesday. The firm has a market cap of $1,337.64, a P/E ratio of 98.50, a P/E/G ratio of 3.61 and a beta of 1.23. Axon Enterprise Inc has a 52-week low of $20.57 and a 52-week high of $28.17.

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Axon Enterprise Profile

Axon Enterprise, Inc, formerly TASER International, Inc, is engaged in development, manufacture and sale of conducted electrical weapons (CEWs) for use by law enforcement, military, corrections and private security personnel, and by private individuals for personal defense. It is also engaged in development of connected wearable on-officer cameras.

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Institutional Ownership by Quarter for Axon Enterprise (NASDAQ:AAXN)

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