Axon Enterprise (NASDAQ:AXON) Trading Down 5.1% – Time to Sell?

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AXON. JMP Securities lifted their price target on Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Needham & Company LLC lifted their price target on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group lifted their price target on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Northland Securities boosted 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. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus price target of $488.67.

Axon Enterprise Trading Down 6.0 %

The firm has a market capitalization of $43.10 billion, a PE ratio of 146.05, a P/E/G ratio of 14.19 and a beta of 1.04. The business has a 50 day moving average price of $593.68 and a 200-day moving average price of $441.20. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32.

Insider Activity at Axon Enterprise

In other news, President Joshua Isner sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $606.15, for a total transaction of $12,123,000.00. Following the sale, the president now owns 208,166 shares in the company, valued at $126,179,820.90. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total value of $437,980.00. Following the completion of the transaction, the director now owns 26,259 shares in the company, valued at $11,500,916.82. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,545 shares of company stock valued at $31,159,317 in the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Axon Enterprise

Several hedge funds and other institutional investors have recently bought and sold shares of AXON. Capital Market Strategies LLC lifted its position 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 worth $1,680,000 after purchasing an additional 29 shares during the period. Everence Capital Management Inc. grew its holdings 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 in the last quarter. GAMMA Investing LLC grew its holdings in shares of Axon Enterprise by 32.0% during the 4th quarter. GAMMA Investing LLC now owns 1,300 shares of the biotechnology company’s stock valued at $773,000 after acquiring an additional 315 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Axon Enterprise by 4,750.0% during the 4th quarter. Versant Capital Management Inc now owns 97 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 95 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Axon Enterprise by 33.1% during the 3rd quarter. Principal Financial Group Inc. now owns 136,302 shares of the biotechnology company’s stock valued at $54,466,000 after acquiring an additional 33,869 shares in the last quarter. 79.08% of the stock is owned by 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.