Axon Enterprise (NASDAQ:AXON) Shares Down 4.2% on Insider Selling

Axon Enterprise, Inc. (NASDAQ:AXON) was down 4.2% during trading on Monday after an insider sold shares in the company. The company traded as low as $603.33 and last traded at $618.14. Approximately 273,497 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 571,426 shares. The stock had previously closed at $644.91.

Specifically, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $639.69, for a total value of $639,690.00. Following the completion of the sale, the director now directly owns 24,259 shares of the company’s stock, valued at approximately $15,518,239.71. This represents a 3.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

AXON has been the topic of a number of research analyst reports. Needham & Company LLC boosted their target price on shares of Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Morgan Stanley upgraded shares of 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 research report on Tuesday, December 3rd. JMP Securities raised their price objective on Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Northland Securities lifted their target price on shares of Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group boosted their price objective on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $488.67.

Axon Enterprise Price Performance

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 stock has a market cap of $48.48 billion, a P/E ratio of 164.28, a price-to-earnings-growth ratio of 14.19 and a beta of 1.01. The firm has a 50-day moving average price of $548.26 and a 200-day moving average price of $411.38.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC increased its stake in shares of Axon Enterprise by 1,875.0% in the 3rd quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 75 shares in the last quarter. Prestige Wealth Management Group LLC boosted its holdings in Axon Enterprise by 115.8% in the third quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 44 shares in the last quarter. Blue Trust Inc. increased its stake in Axon Enterprise by 987.5% during the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 79 shares in the last quarter. Brooklyn Investment Group purchased a new position in Axon Enterprise in the third quarter worth about $41,000. Finally, Planning Capital Management Corp lifted its stake in shares of Axon Enterprise by 83.3% in the third quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock worth $48,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

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.