Short Interest in Axon Enterprise, Inc. (NASDAQ:AXON) Decreases By 12.4%

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

Insider Transactions at Axon Enterprise

In other news, CEO Patrick W. Smith sold 47,314 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $400.07, for a total transaction of $18,928,911.98. Following the sale, the chief executive officer now directly owns 2,983,802 shares in the company, valued at approximately $1,193,729,666.14. The trade was a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeri Williams sold 110 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $400.00, for a total value of $44,000.00. Following the sale, the director now owns 1,934 shares in the company, valued at approximately $773,600. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,590 shares of company stock worth $49,435,607. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

A number of institutional investors have recently modified their holdings of AXON. Wealth Enhancement Advisory Services LLC raised its position in shares of Axon Enterprise by 21.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,153 shares of the biotechnology company’s stock worth $2,693,000 after purchasing an additional 1,634 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Axon Enterprise by 18.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,272 shares of the biotechnology company’s stock worth $1,551,000 after purchasing an additional 804 shares during the period. Blue Trust Inc. raised its position in shares of Axon Enterprise by 987.5% during the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 79 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of Axon Enterprise by 49.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,866 shares of the biotechnology company’s stock worth $549,000 after purchasing an additional 614 shares during the period. Finally, First Citizens Bank & Trust Co. raised its position in Axon Enterprise by 83.1% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,633 shares of the biotechnology company’s stock valued at $480,000 after buying an additional 741 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AXON shares. The Goldman Sachs Group upped their target price on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Needham & Company LLC upped their target price on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a report on Friday, November 8th. Robert W. Baird upped their target price on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, December 6th. JMP Securities upped their target price 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, Northland Securities upped their target price on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $488.67.

Axon Enterprise Trading Down 2.4 %

AXON traded down $15.38 during trading on Tuesday, hitting $633.92. The company’s stock had a trading volume of 61,388 shares, compared to its average volume of 575,356. Axon Enterprise has a twelve month low of $241.72 and a twelve month high of $698.67. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average price is $544.09 and its 200-day moving average price is $408.89. The firm has a market capitalization of $48.34 billion, a P/E ratio of 167.78, a PEG ratio of 14.19 and a beta of 1.01.

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.