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

Axon Enterprise (NASDAQ:AXON) was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. They currently have a $625.00 target price on the biotechnology company’s stock. Craig Hallum’s target price points to a potential upside of 5.32% from the company’s current price.

Several other equities analysts have also recently weighed in on AXON. Northland Securities raised 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. TD Cowen started coverage on shares of Axon Enterprise in a research report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price target on the stock. Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday. Robert W. Baird raised their price target on shares of Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Morgan Stanley raised shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $500.00 to $700.00 in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus price target of $561.31.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $593.42 on Thursday. Axon Enterprise has a fifty-two week low of $260.27 and a fifty-two week high of $715.99. The stock has a market cap of $45.25 billion, a price-to-earnings ratio of 153.34, a PEG ratio of 7.12 and a beta of 1.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The firm’s 50-day simple moving average is $624.50 and its 200 day simple moving average is $515.36.

Insider Buying and Selling

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of Axon Enterprise stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total value of $271,831.50. Following the sale, the director now owns 6,929 shares of the company’s stock, valued at approximately $4,185,601.03. The trade was a 6.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $639.69, for a total transaction of $639,690.00. Following the completion of the sale, the director now directly owns 24,259 shares in the company, valued at $15,518,239.71. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,711 shares of company stock valued at $5,631,561. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Fourth Dimension Wealth LLC purchased a new position in Axon Enterprise in the 4th quarter valued at approximately $30,000. Prestige Wealth Management Group LLC grew its stake in Axon Enterprise by 115.8% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 44 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in Axon Enterprise in the 4th quarter valued at approximately $40,000. Brooklyn Investment Group purchased a new position in Axon Enterprise in the 3rd quarter valued at approximately $41,000. Finally, Y.D. More Investments Ltd purchased a new position in Axon Enterprise in the 4th quarter valued at approximately $45,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

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.