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

Axon Enterprise, Inc. (NASDAQ:AXON) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 2,110,000 shares, a decrease of 11.3% from the August 15th total of 2,380,000 shares. Based on an average daily volume of 557,700 shares, the short-interest ratio is presently 3.8 days.

Insider Activity

In other news, CEO Patrick W. Smith sold 80,300 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the completion of the sale, the chief executive officer now directly owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Patrick W. Smith sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $362.21, for a total value of $25,354,700.00. Following the completion of the sale, the chief executive officer now directly owns 2,945,366 shares in the company, valued at $1,066,841,018.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick W. Smith sold 80,300 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $371.78, for a total value of $29,853,934.00. Following the completion of the transaction, the chief executive officer now owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The disclosure for this sale can be found here. Insiders sold 316,981 shares of company stock worth $115,281,744 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Axon Enterprise

Several hedge funds have recently modified their holdings of the stock. ING Groep NV increased its holdings in Axon Enterprise by 9.3% in the fourth quarter. ING Groep NV now owns 9,643 shares of the biotechnology company’s stock valued at $2,491,000 after buying an additional 821 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in Axon Enterprise by 0.8% in the first quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock valued at $1,659,000 after buying an additional 40 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Axon Enterprise in the first quarter valued at $931,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Axon Enterprise by 14.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 170,376 shares of the biotechnology company’s stock valued at $53,307,000 after buying an additional 22,013 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Axon Enterprise by 21.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,153 shares of the biotechnology company’s stock valued at $2,693,000 after buying an additional 1,634 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Up 1.6 %

Shares of NASDAQ AXON traded up $6.16 during mid-day trading on Monday, hitting $385.77. The company had a trading volume of 479,841 shares, compared to its average volume of 520,625. The company has a market capitalization of $29.15 billion, a PE ratio of 112.80, a price-to-earnings-growth ratio of 10.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52. Axon Enterprise has a 1-year low of $189.12 and a 1-year high of $386.54. The business’s 50-day simple moving average is $340.58 and its 200 day simple moving average is $315.24.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.18. The business had revenue of $504.00 million for the quarter, compared to analysts’ expectations of $478.35 million. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The company’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share. On average, analysts predict that Axon Enterprise will post 1.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JMP Securities upped their price objective on Axon Enterprise from $375.00 to $430.00 and gave the company an “outperform” rating in a report on Thursday. Northland Securities upped their price objective on Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Jefferies Financial Group assumed coverage on Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $385.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Axon Enterprise in a report on Wednesday, August 7th. Finally, Barclays upped their price objective on Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.38.

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.