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

Axon Enterprise, Inc. (NASDAQ:AXON) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,110,000 shares, a decrease of 11.3% from the August 15th total of 2,380,000 shares. Based on an average daily volume of 557,700 shares, the short-interest ratio is currently 3.8 days.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 80,300 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the transaction, the chief executive officer now owns 3,015,366 shares of the company’s stock, valued at approximately $1,121,052,771.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of Axon Enterprise stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $373.03, for a total transaction of $167,863.50. Following the sale, the director now owns 7,379 shares in the company, valued at $2,752,588.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick W. Smith sold 80,300 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the sale, the chief executive officer now directly owns 3,015,366 shares in the company, valued at approximately $1,121,052,771.48. The disclosure for this sale can be found here. Insiders have sold 317,981 shares of company stock worth $115,662,734 in the last quarter. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Axon Enterprise in the fourth quarter worth approximately $195,406,000. Motley Fool Asset Management LLC increased its stake in Axon Enterprise by 238.7% during the first quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock valued at $153,981,000 after acquiring an additional 346,838 shares during the period. 1832 Asset Management L.P. acquired a new stake in Axon Enterprise in the 1st quarter valued at $81,630,000. Vanguard Group Inc. lifted its position in Axon Enterprise by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock worth $2,547,878,000 after buying an additional 212,401 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Axon Enterprise by 110.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 276,011 shares of the biotechnology company’s stock worth $71,302,000 after acquiring an additional 144,568 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AXON. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Axon Enterprise in a research report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $385.00 price objective for the company. JMP Securities boosted their target price on shares of Axon Enterprise from $375.00 to $430.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Craig Hallum raised their price target on Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Northland Securities increased their target price on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.38.

Axon Enterprise Trading Up 0.5 %

Shares of AXON stock traded up $2.07 on Wednesday, hitting $384.64. The stock had a trading volume of 157,991 shares, compared to its average volume of 517,824. Axon Enterprise has a 1 year low of $189.12 and a 1 year high of $386.54. The firm has a market capitalization of $29.03 billion, a P/E ratio of 111.85, a P/E/G ratio of 10.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52. The company’s 50 day moving average price is $342.26 and its 200-day moving average price is $315.72.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. The firm had revenue of $504.00 million for the quarter, compared to analyst estimates of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. Axon Enterprise’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period last year, the firm posted $0.80 EPS. Analysts anticipate that Axon Enterprise will post 1.79 earnings per share for the current year.

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.