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

Axon Enterprise, Inc. (NASDAQ:AXON) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 2,230,000 shares, a decline of 6.7% from the July 15th total of 2,390,000 shares. Based on an average daily volume of 593,800 shares, the short-interest ratio is presently 3.8 days.

Insiders Place Their Bets

In other news, Director Julie A. Cullivan sold 993 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $281.72, for a total value of $279,747.96. Following the completion of the sale, the director now owns 4,553 shares in the company, valued at $1,282,671.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Julie A. Cullivan sold 993 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $281.72, for a total value of $279,747.96. Following the transaction, the director now owns 4,553 shares in the company, valued at approximately $1,282,671.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew R. Mcbrady sold 2,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $364.66, for a total transaction of $729,320.00. Following the completion of the sale, the director now directly owns 4,892 shares of the company’s stock, valued at $1,783,916.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,471 shares of company stock worth $1,145,795. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Axon Enterprise

A number of hedge funds have recently bought and sold shares of AXON. International Assets Investment Management LLC acquired a new position in shares of Axon Enterprise during the fourth quarter valued at about $39,907,000. Louisiana State Employees Retirement System acquired a new stake in shares of Axon Enterprise during the 4th quarter worth approximately $1,111,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Axon Enterprise by 0.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 148,363 shares of the biotechnology company’s stock worth $38,327,000 after purchasing an additional 1,018 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Axon Enterprise by 4.7% during the fourth quarter. Vontobel Holding Ltd. now owns 3,943 shares of the biotechnology company’s stock valued at $1,019,000 after purchasing an additional 177 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Axon Enterprise by 1.0% in the fourth quarter. Mackenzie Financial Corp now owns 6,353 shares of the biotechnology company’s stock valued at $1,641,000 after purchasing an additional 61 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AXON has been the subject of several recent research reports. Craig Hallum increased their price objective on Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Barclays raised their price target on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Bank of America started coverage on Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $380.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and set a $375.00 price objective on shares of Axon Enterprise in a research report on Wednesday, August 7th. Finally, Northland Securities lifted their target price on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.08.

Axon Enterprise Stock Performance

Shares of AXON opened at $373.05 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52. Axon Enterprise has a one year low of $189.12 and a one year high of $378.25. The company’s fifty day moving average price is $313.49 and its 200 day moving average price is $302.69. The company has a market capitalization of $28.19 billion, a PE ratio of 109.08, a price-to-earnings-growth ratio of 10.01 and a beta of 0.95.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.18. The business had revenue of $504.00 million during the quarter, compared to analysts’ expectations of $478.35 million. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The firm’s revenue was up 34.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. As a group, analysts expect that Axon Enterprise will post 1.79 earnings per share for the current year.

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.