Axon Enterprise (NASDAQ:AXON) Trading Down 4.2% After Insider Selling

Axon Enterprise, Inc. (NASDAQ:AXON) dropped 4.2% during mid-day trading on Monday following insider selling activity. The company traded as low as $603.33 and last traded at $618.14. Approximately 273,497 shares changed hands during trading, a decline of 52% from the average daily volume of 571,426 shares. The stock had previously closed at $644.91.

Specifically, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction dated 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. This represents a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AXON shares. Robert W. Baird boosted their target price on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC boosted their price objective on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Northland Securities raised their target price on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. The Goldman Sachs Group lifted their price target on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, JMP Securities upped their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average target price of $488.67.

Axon Enterprise Trading Down 2.1 %

The company has a market cap of $48.48 billion, a PE ratio of 164.28, a price-to-earnings-growth ratio of 14.19 and a beta of 1.01. The company’s 50 day simple moving average is $548.26 and its two-hundred day simple moving average is $411.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63.

Hedge Funds Weigh In On Axon Enterprise

A number of hedge funds have recently made changes to their positions in AXON. Public Sector Pension Investment Board lifted its stake in 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 purchasing an additional 500 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Axon Enterprise by 9.2% during the 3rd quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock worth $4,227,000 after acquiring an additional 895 shares in the last quarter. Foundations Investment Advisors LLC purchased a new position in Axon Enterprise during the 3rd quarter valued at about $221,000. Sequoia Financial Advisors LLC grew its position in Axon Enterprise by 4.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after acquiring an additional 81 shares in the last quarter. Finally, Axxcess Wealth Management LLC purchased a new stake in Axon Enterprise during the third quarter worth about $814,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

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.