Axon Enterprise (NASDAQ:AXON) Stock Price Down 4.6% – Here’s What Happened

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price was down 4.6% on Monday . The stock traded as low as $607.20 and last traded at $607.40. Approximately 283,240 shares were traded during trading, a decline of 49% from the average daily volume of 554,681 shares. The stock had previously closed at $636.95.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AXON shares. Barclays increased their price target on Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. JMP Securities raised their target price on Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Northland Securities boosted their price target on shares of Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird raised their price objective on shares of Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC boosted their target price on shares of Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $427.83.

Axon Enterprise Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The firm has a market capitalization of $47.20 billion, a price-to-earnings ratio of 165.38, a PEG ratio of 14.02 and a beta of 0.94. The stock has a 50 day moving average price of $463.58 and a two-hundred day moving average price of $368.47.

Insiders Place Their Bets

In other news, CFO Brittany Bagley sold 4,338 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $378.95, for a total value of $1,643,885.10. Following the sale, the chief financial officer now directly owns 98,825 shares in the company, valued at approximately $37,449,733.75. This trade represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $606.15, for a total value of $12,123,000.00. Following the completion of the transaction, the president now owns 208,166 shares of the company’s stock, valued at approximately $126,179,820.90. This trade represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,256 shares of company stock worth $105,984,120 over the last three months. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Axon Enterprise

Hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in shares of 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 purchasing an additional 895 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in Axon Enterprise in the third quarter valued at $221,000. Sequoia Financial Advisors LLC lifted its holdings in Axon Enterprise by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock worth $690,000 after buying an additional 81 shares during the last quarter. Axxcess Wealth Management LLC acquired a new position in shares of Axon Enterprise during the 3rd quarter worth about $814,000. Finally, Jag Capital Management LLC increased its holdings in shares of Axon Enterprise by 9.7% in the 3rd quarter. Jag Capital Management LLC now owns 56,086 shares of the biotechnology company’s stock valued at $22,412,000 after acquiring an additional 4,954 shares during the last quarter. Institutional investors and hedge funds 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.