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

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

Insider Activity

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 2,304 shares of the firm’s 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 completion of the sale, the insider now owns 128,542 shares in the company, valued at approximately $84,168,016.18. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business’s 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 in the company, valued at approximately $4,185,601.03. This represents a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,711 shares of company stock valued at $5,631,561. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Axon Enterprise

A number of hedge funds have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. lifted its position in shares of Axon Enterprise by 58.6% during the third quarter. Vontobel Holding Ltd. now owns 4,066 shares of the biotechnology company’s stock worth $1,625,000 after purchasing an additional 1,503 shares in the last quarter. Bleakley Financial Group LLC raised its position in Axon Enterprise by 7.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,507 shares of the biotechnology company’s stock worth $602,000 after purchasing an additional 110 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Axon Enterprise by 2.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,391 shares of the biotechnology company’s stock worth $2,953,000 after buying an additional 143 shares in the last quarter. Stratos Wealth Advisors LLC bought a new position in Axon Enterprise in the 3rd quarter valued at $259,000. Finally, Blue Trust Inc. increased its stake in shares of Axon Enterprise by 234.5% in the 3rd quarter. Blue Trust Inc. now owns 291 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 204 shares during the period. Institutional investors own 79.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on AXON. TD Cowen initiated coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price target on the stock. The Goldman Sachs Group upped their target price on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Needham & Company LLC raised their price target on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Northland Securities upped their price objective on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $500.00 to $700.00 in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $542.15.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON opened at $683.41 on Tuesday. The business has a fifty day moving average of $624.03 and a 200-day moving average of $511.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. Axon Enterprise has a twelve month low of $260.27 and a twelve month high of $698.67. The firm has a market cap of $52.11 billion, a PE ratio of 176.59, a price-to-earnings-growth ratio of 6.79 and a beta of 1.05.

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.