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

Axon Enterprise, Inc. (NASDAQ:AXON) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 2,420,000 shares, a decline of 6.9% from the January 15th total of 2,600,000 shares. Based on an average daily trading volume, of 894,900 shares, the days-to-cover ratio is presently 2.7 days.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, Director Julie A. Cullivan sold 1,261 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total value of $860,077.66. Following the sale, the director now owns 2,392 shares of the company’s stock, valued at approximately $1,631,487.52. The trade was a 34.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey C. Kunins sold 2,304 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $654.79, for a total value of $1,508,636.16. Following the transaction, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,711 shares of company stock valued at $5,631,561. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $30,000. Pinkerton Retirement Specialists LLC purchased a new stake in Axon Enterprise in the 4th quarter worth approximately $1,002,000. Castleark Management LLC raised its holdings in Axon Enterprise by 317.7% in the 4th quarter. Castleark Management LLC now owns 11,570 shares of the biotechnology company’s stock valued at $6,876,000 after acquiring an additional 8,800 shares during the last quarter. Elequin Capital LP purchased a new position in shares of Axon Enterprise during the 4th quarter worth $46,000. Finally, Voloridge Investment Management LLC boosted its holdings in shares of Axon Enterprise by 66.8% during the fourth quarter. Voloridge Investment Management LLC now owns 169,295 shares of the biotechnology company’s stock worth $100,615,000 after purchasing an additional 67,813 shares during the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Up 3.9 %

Shares of NASDAQ:AXON opened at $710.01 on Wednesday. The company has a market capitalization of $54.14 billion, a P/E ratio of 183.47, a P/E/G ratio of 6.85 and a beta of 1.05. The stock’s fifty day simple moving average is $625.48 and its 200-day simple moving average is $514.81. Axon Enterprise has a 52-week low of $260.27 and a 52-week high of $715.99. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. TD Cowen started coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 target price for the company. Needham & Company LLC lifted their price target on shares of Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. Finally, Robert W. Baird lifted their price objective on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $542.15.

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.