Axon Enterprise (NASDAQ:AXON) Trading Down 5.1% – What’s Next?

Axon Enterprise, Inc. (NASDAQ:AXON)’s stock price dropped 5.1% during trading on Monday . The company traded as low as $567.39 and last traded at $570.13. Approximately 158,486 shares were traded during trading, a decline of 52% from the average daily volume of 328,950 shares. The stock had previously closed at $601.06.

Analyst Ratings Changes

AXON has been the subject of several analyst reports. Robert W. Baird raised their target price on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Northland Securities lifted their price objective on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. TD Cowen assumed coverage on shares of Axon Enterprise in a report on Wednesday. They set a “buy” rating and a $700.00 price target for the company. Needham & Company LLC increased their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $504.92.

Axon Enterprise Stock Up 2.7 %

The firm has a market cap of $44.03 billion, a P/E ratio of 149.18, a price-to-earnings-growth ratio of 14.19 and a beta of 1.04. The stock’s 50 day simple moving average is $598.56 and its 200 day simple moving average is $445.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96.

Insider Buying and Selling

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 450 shares of Axon Enterprise stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total transaction of $271,831.50. Following the transaction, the director now directly owns 6,929 shares of the company’s stock, valued at $4,185,601.03. The trade was a 6.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey C. Kunins sold 21,834 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $593.88, for a total transaction of $12,966,775.92. Following the completion of the sale, the insider now owns 154,394 shares of the company’s stock, valued at approximately $91,691,508.72. This represents a 12.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,545 shares of company stock worth $31,159,317 in the last quarter. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors have recently modified their holdings of the business. Range Financial Group LLC bought a new position in Axon Enterprise during the fourth quarter valued at about $291,000. Capital Market Strategies LLC boosted its stake in Axon Enterprise by 1.0% in the fourth quarter. Capital Market Strategies LLC now owns 2,826 shares of the biotechnology company’s stock valued at $1,680,000 after acquiring an additional 29 shares during the last quarter. Everence Capital Management Inc. grew its position in shares of Axon Enterprise by 14.0% during the 4th quarter. Everence Capital Management Inc. now owns 1,550 shares of the biotechnology company’s stock valued at $921,000 after acquiring an additional 190 shares during the period. GAMMA Investing LLC raised its holdings in shares of Axon Enterprise by 32.0% in the 4th quarter. GAMMA Investing LLC now owns 1,300 shares of the biotechnology company’s stock worth $773,000 after purchasing an additional 315 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Axon Enterprise by 4,750.0% in the fourth quarter. Versant Capital Management Inc now owns 97 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 95 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

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.