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

Axon Enterprise, Inc. (NASDAQ:AXON) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 2,260,000 shares, a drop of 12.4% from the November 15th total of 2,580,000 shares. Based on an average trading volume of 711,500 shares, the short-interest ratio is currently 3.2 days.

Axon Enterprise Stock Performance

AXON opened at $655.69 on Monday. The company’s 50 day moving average is $539.52 and its 200 day moving average is $406.30. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The company has a market cap of $50.00 billion, a price-to-earnings ratio of 166.64, a PEG ratio of 14.19 and a beta of 1.01. Axon Enterprise has a 12-month low of $241.72 and a 12-month high of $698.67.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AXON. Robert W. Baird lifted their target price on shares of Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC lifted their price objective on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group increased their target price on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JMP Securities raised their price target on Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Finally, Morgan Stanley upgraded shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $500.00 to $700.00 in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $488.67.

Insiders Place Their Bets

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 21,834 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $593.88, for a total value of $12,966,775.92. Following the completion of the transaction, the insider now directly owns 154,394 shares in the company, valued at approximately $91,691,508.72. This represents a 12.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julie A. Cullivan sold 1,261 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total transaction of $860,077.66. Following the completion of the sale, the director now owns 2,392 shares of the company’s stock, valued at $1,631,487.52. This trade represents a 34.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,590 shares of company stock valued at $48,795,917 in the last quarter. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

Several large investors have recently made changes to their positions in AXON. Insigneo Advisory Services LLC raised its stake in Axon Enterprise by 1.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 1,568 shares of the biotechnology company’s stock valued at $627,000 after purchasing an additional 22 shares during the period. Menard Financial Group LLC grew its holdings in Axon Enterprise by 0.8% during the 3rd quarter. Menard Financial Group LLC now owns 3,014 shares of the biotechnology company’s stock valued at $1,204,000 after buying an additional 24 shares in the last quarter. PFG Investments LLC raised its position in shares of Axon Enterprise by 0.6% during the third quarter. PFG Investments LLC now owns 3,872 shares of the biotechnology company’s stock valued at $1,547,000 after buying an additional 25 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its holdings in shares of Axon Enterprise by 1.6% in the third quarter. Gladstone Institutional Advisory LLC now owns 1,641 shares of the biotechnology company’s stock worth $656,000 after buying an additional 26 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of Axon Enterprise by 3.7% in the third quarter. Mather Group LLC. now owns 759 shares of the biotechnology company’s stock worth $303,000 after buying an additional 27 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other 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.