Axon Enterprise (NASDAQ:AXON) Shares Down 5.1% – Time to Sell?

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price traded down 5.1% during trading on Monday . The stock traded as low as $567.39 and last traded at $570.13. 158,486 shares traded hands during trading, a decline of 52% from the average session volume of 328,950 shares. The stock had previously closed at $601.06.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Cowen began coverage on Axon Enterprise in a report on Wednesday. They issued a “buy” rating and a $700.00 price target for the company. Morgan Stanley raised shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. The Goldman Sachs Group raised their price objective on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JMP Securities increased their target price on Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Finally, Northland Securities upped their price objective 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 fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $504.92.

Axon Enterprise Price Performance

The company’s 50-day moving average price is $598.56 and its two-hundred day moving average price is $445.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The company has a market capitalization of $44.03 billion, a P/E ratio of 149.18, a price-to-earnings-growth ratio of 14.19 and a beta of 1.04.

Insider Buying and Selling

In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total value of $437,980.00. Following the completion of the sale, the director now owns 26,259 shares of the company’s stock, valued at $11,500,916.82. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Julie A. Cullivan sold 1,261 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total transaction of $860,077.66. Following the transaction, the director now directly owns 2,392 shares in the company, valued at $1,631,487.52. This represents a 34.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,545 shares of company stock valued at $31,159,317. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Sector Pension Investment Board grew its stake in shares of Axon Enterprise by 19.2% during the third quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company’s stock worth $1,240,000 after buying an additional 500 shares during the last quarter. 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 last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Axon Enterprise during the third quarter valued at 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 purchasing an additional 81 shares during the last quarter. Finally, Axxcess Wealth Management LLC acquired a new position in shares of Axon Enterprise in the third quarter valued at approximately $814,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Company 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.