Axon Enterprise, Inc. (NASDAQ:AXON) Sees Large Decline in Short Interest

Axon Enterprise, Inc. (NASDAQ:AXON) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 2,420,000 shares, a decrease of 6.9% from the January 15th total of 2,600,000 shares. Based on an average daily trading volume, of 894,900 shares, the short-interest ratio is currently 2.7 days.

Axon Enterprise Stock Up 3.9 %

Shares of NASDAQ AXON opened at $710.01 on Wednesday. The business has a 50-day moving average price of $625.48 and a 200 day moving average price of $514.81. The stock has a market cap of $54.14 billion, a PE ratio of 183.47, a price-to-earnings-growth ratio of 6.85 and a beta of 1.05. 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 has a 52-week low of $260.27 and a 52-week high of $715.99.

Insider Buying and Selling

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 2,304 shares of the business’s stock in a transaction 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 in the company, valued at $84,168,016.18. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $639.69, for a total value of $639,690.00. Following the completion of the sale, the director now owns 24,259 shares in the company, valued at approximately $15,518,239.71. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,711 shares of company stock valued at $5,631,561 in the last ninety days. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Several large investors have recently modified their holdings of AXON. Public Sector Pension Investment Board raised its position in Axon Enterprise by 19.2% in the 3rd 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 last quarter. CIBC Asset Management Inc raised its holdings in shares of 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 buying an additional 895 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Axon Enterprise during the third quarter worth about $221,000. Sequoia Financial Advisors LLC grew its holdings in shares of Axon Enterprise by 4.9% during the third 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. Finally, Axxcess Wealth Management LLC acquired a new position in Axon Enterprise in the 3rd quarter valued at about $814,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AXON has been the topic of a number of recent research reports. Northland Securities upped their target price on shares of Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. TD Cowen initiated coverage on shares of Axon Enterprise in a research report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of 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 increased their target price on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. 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, Axon Enterprise has a consensus rating of “Moderate Buy” and an average price target of $542.15.

About Axon Enterprise

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.