Axon Enterprise, Inc. (NASDAQ:AXON) Sees Significant Growth in Short Interest

Axon Enterprise, Inc. (NASDAQ:AXON) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,570,000 shares, a growth of 14.7% from the December 15th total of 2,240,000 shares. Based on an average daily trading volume, of 883,200 shares, the days-to-cover ratio is presently 2.9 days.

Analyst Ratings Changes

A number of research firms recently weighed in on AXON. TD Cowen started coverage on shares of Axon Enterprise in a research note on Wednesday, January 8th. They set a “buy” rating and a $700.00 price target for the company. Robert W. Baird upped their price target on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JMP Securities lifted their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Morgan Stanley raised shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group lifted their price target on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $504.92.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total value of $271,831.50. Following the transaction, the director now directly owns 6,929 shares in the company, valued at approximately $4,185,601.03. This trade represents a 6.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise 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 directly owns 24,259 shares of the company’s stock, valued at $15,518,239.71. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,545 shares of company stock valued at $30,721,337 over the last ninety days. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Axon Enterprise

Large investors have recently bought and sold shares of the company. Groupama Asset Managment bought a new position in Axon Enterprise in the third quarter valued at $200,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Axon Enterprise in the third quarter valued at about $120,553,000. International Assets Investment Management LLC acquired a new position in Axon Enterprise during the third quarter valued at approximately $871,860,000. Westfield Capital Management Co. LP grew its stake in Axon Enterprise by 12.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock valued at $469,661,000 after purchasing an additional 127,769 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Axon Enterprise by 44.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 375,700 shares of the biotechnology company’s stock worth $110,546,000 after purchasing an additional 114,800 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Stock Up 1.4 %

Shares of AXON traded up $8.05 during midday trading on Friday, hitting $593.89. The stock had a trading volume of 533,566 shares, compared to its average volume of 655,322. 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 firm has a market cap of $45.28 billion, a price-to-earnings ratio of 153.46, a price-to-earnings-growth ratio of 5.71 and a beta of 1.04. The company has a 50 day simple moving average of $617.55 and a two-hundred day simple moving average of $456.72. Axon Enterprise has a twelve month low of $247.04 and a twelve month high of $698.67.

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.