Axon Enterprise, Inc. (NASDAQ:AXON) Short Interest Update

Axon Enterprise, Inc. (NASDAQ:AXON) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 2,390,000 shares, a drop of 7.4% from the June 30th total of 2,580,000 shares. Based on an average daily trading volume, of 515,700 shares, the short-interest ratio is presently 4.6 days.

Axon Enterprise Price Performance

Axon Enterprise stock traded down $2.71 during trading hours on Thursday, hitting $297.30. 126,555 shares of the stock were exchanged, compared to its average volume of 484,953. Axon Enterprise has a 12 month low of $175.37 and a 12 month high of $329.87. The business’s 50-day moving average is $295.17 and its two-hundred day moving average is $293.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.55 and a current ratio of 2.91. The stock has a market capitalization of $22.44 billion, a P/E ratio of 87.72, a P/E/G ratio of 6.87 and a beta of 0.95.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Friday, May 10th. The biotechnology company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.20. Axon Enterprise had a return on equity of 11.71% and a net margin of 15.60%. The firm had revenue of $460.74 million during the quarter, compared to analysts’ expectations of $441.57 million. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was up 34.3% on a year-over-year basis. Equities research analysts expect that Axon Enterprise will post 2.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AXON. JPMorgan Chase & Co. increased their price objective on Axon Enterprise from $330.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Barclays raised their price target on shares of Axon Enterprise from $308.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Morgan Stanley increased their target price on shares of Axon Enterprise from $285.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. William Blair restated an “outperform” rating on shares of Axon Enterprise in a report on Wednesday, April 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $375.00 price objective on shares of Axon Enterprise in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus target price of $342.54.

Insiders Place Their Bets

In other Axon Enterprise news, Director Jeri Williams sold 308 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $310.07, for a total value of $95,501.56. Following the sale, the director now directly owns 1,607 shares of the company’s stock, valued at $498,282.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jeri Williams sold 308 shares of Axon Enterprise stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $310.07, for a total transaction of $95,501.56. Following the sale, the director now directly owns 1,607 shares in the company, valued at $498,282.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Joshua Isner sold 44,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $309.96, for a total transaction of $13,638,240.00. Following the transaction, the president now directly owns 275,843 shares in the company, valued at approximately $85,500,296.28. The disclosure for this sale can be found here. Insiders have sold a total of 89,447 shares of company stock valued at $27,684,677 in the last quarter. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its position in Axon Enterprise by 32.8% during the 4th quarter. Raymond James & Associates now owns 83,655 shares of the biotechnology company’s stock valued at $21,611,000 after purchasing an additional 20,654 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Axon Enterprise by 433.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 18,281 shares of the biotechnology company’s stock valued at $4,723,000 after purchasing an additional 14,854 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Axon Enterprise by 39.8% in the fourth quarter. Global Retirement Partners LLC now owns 825 shares of the biotechnology company’s stock valued at $206,000 after acquiring an additional 235 shares during the last quarter. Fifth Third Bancorp increased its holdings in Axon Enterprise by 49.5% during the fourth quarter. Fifth Third Bancorp now owns 1,453 shares of the biotechnology company’s stock worth $375,000 after buying an additional 481 shares during the last quarter. Finally, Chicago Capital LLC bought a new position in shares of Axon Enterprise in the fourth quarter valued at about $1,258,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

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.