Axon Enterprise (NASDAQ:AXON) Downgraded to “Hold” Rating by Craig Hallum

Axon Enterprise (NASDAQ:AXON) was downgraded by equities researchers at Craig Hallum from a “buy” rating to a “hold” rating in a report released on Thursday, Marketbeat reports. They presently have a $625.00 price objective on the biotechnology company’s stock. Craig Hallum’s price objective would suggest a potential upside of 21.78% from the stock’s previous close.

Several other brokerages have also weighed in on AXON. Northcoast Research lowered Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday. JMP Securities increased their price target on Axon Enterprise from $610.00 to $725.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 4th. Needham & Company LLC boosted 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. Morgan Stanley upgraded shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $500.00 to $700.00 in a research report on Tuesday, December 3rd. Finally, TD Cowen started coverage on shares of Axon Enterprise in a research note on Wednesday, January 8th. They issued a “buy” rating and a $700.00 target price for the company. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $561.31.

Axon Enterprise Stock Down 5.3 %

Axon Enterprise stock opened at $513.22 on Thursday. The firm has a 50 day moving average price of $619.94 and a 200-day moving average price of $517.11. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. Axon Enterprise has a twelve month low of $265.32 and a twelve month high of $715.99. The company has a market capitalization of $39.13 billion, a P/E ratio of 132.62, a P/E/G ratio of 5.95 and a beta of 1.05.

Insiders Place Their Bets

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the company’s stock in a transaction dated 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 $4,185,601.03. This represents a 6.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey C. Kunins sold 2,304 shares of Axon Enterprise stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $654.79, for a total value of $1,508,636.16. Following the sale, the insider now owns 128,542 shares of the company’s stock, valued at approximately $84,168,016.18. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,711 shares of company stock worth $5,631,561 in the last three months. 6.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axon Enterprise

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board grew its position in Axon Enterprise by 19.2% in the third quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company’s stock worth $1,240,000 after acquiring an additional 500 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Axon Enterprise by 9.2% in the 3rd quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock worth $4,227,000 after purchasing an additional 895 shares in the last quarter. Foundations Investment Advisors LLC purchased a new position in shares of Axon Enterprise in the 3rd quarter worth about $221,000. Sequoia Financial Advisors LLC increased its position in shares of Axon Enterprise by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 81 shares during the last quarter. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Axon Enterprise during the 3rd quarter valued at 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.