Axon Enterprise (NASDAQ:AXON) Shares Down 6.4% – Here’s Why

by · The Markets Daily

Axon Enterprise, Inc. (NASDAQ:AXON – Get Free Report)’s share price was down 6.4% during trading on Wednesday . The company traded as low as $662.41 and last traded at $664.33. Approximately 293,435 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 572,517 shares. The stock had previously closed at $710.01.

Analysts Set New Price Targets

AXON has been the topic of several recent research reports. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. JMP Securities increased their target price on shares of Axon Enterprise from $610.00 to $725.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group lifted 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. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating and set a $625.00 price target on the stock. in a report on Thursday. Finally, Northcoast Research downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $561.31.

Read Our Latest Research Report on Axon Enterprise

Axon Enterprise Price Performance

The firm has a market cap of $39.13 billion, a P/E ratio of 132.62, a PEG ratio of 5.95 and a beta of 1.05. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $622.57 and a 200-day simple moving average of $515.53.

Insider Activity at Axon Enterprise

In other news, President Joshua Isner sold 1,291 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $642.43, for a total transaction of $829,377.13. Following the sale, the president now directly owns 181,892 shares of the company’s stock, valued at $116,852,877.56. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 6,929 shares in the company, valued at approximately $4,185,601.03. The trade was a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,711 shares of company stock valued at $5,631,561 over the last quarter. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Axon Enterprise

Large investors have recently added to or reduced their stakes in the company. Asset Dedication LLC lifted its holdings in shares of Axon Enterprise by 11.3% during the fourth quarter. Asset Dedication LLC now owns 178 shares of the biotechnology company’s stock worth $106,000 after purchasing an additional 18 shares during the period. Bleakley Financial Group LLC raised its position in Axon Enterprise by 1.3% during the 4th quarter. Bleakley Financial Group LLC now owns 1,527 shares of the biotechnology company’s stock worth $908,000 after buying an additional 20 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Axon Enterprise by 2.7% during the 4th quarter. Venturi Wealth Management LLC now owns 802 shares of the biotechnology company’s stock valued at $477,000 after acquiring an additional 21 shares during the period. Insigneo Advisory Services LLC boosted its holdings in shares of Axon Enterprise by 1.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 1,568 shares of the biotechnology company’s stock valued at $627,000 after acquiring an additional 22 shares during the last quarter. Finally, Beacon Pointe Advisors LLC boosted its holdings in shares of Axon Enterprise by 2.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 864 shares of the biotechnology company’s stock valued at $513,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

About Axon Enterprise

(Get Free Report)

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.

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