Axon Enterprise (NASDAQ:AXON) Trading Down 4.6% – What’s Next?

Shares of Axon Enterprise, Inc. (NASDAQ:AXON) were down 4.6% on Monday . The company traded as low as $607.20 and last traded at $607.40. Approximately 283,240 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 554,681 shares. The stock had previously closed at $636.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AXON shares. Needham & Company LLC lifted their target price on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Barclays raised their price objective on Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. 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. Craig Hallum raised their price objective on Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Northland Securities raised 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. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $427.83.

Axon Enterprise Stock Performance

The company has a 50-day moving average of $473.23 and a 200-day moving average of $372.97. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The company has a market cap of $48.42 billion, a PE ratio of 162.65, a PEG ratio of 13.62 and a beta of 0.94.

Insiders Place Their Bets

In other Axon Enterprise news, President Joshua Isner sold 25,811 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $359.84, for a total value of $9,287,830.24. Following the sale, the president now directly owns 228,166 shares in the company, valued at $82,103,253.44. The trade was a 10.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick W. Smith sold 50,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $364.02, for a total value of $18,201,000.00. Following the completion of the sale, the chief executive officer now owns 2,980,861 shares in the company, valued at approximately $1,085,093,021.22. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 260,256 shares of company stock valued at $105,984,120. Insiders own 5.70% of the company’s stock.

Institutional Trading of Axon Enterprise

Several hedge funds have recently made changes to their positions in AXON. Groupama Asset Managment bought a new stake in shares of Axon Enterprise in the third quarter valued at $200,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Axon Enterprise during the 3rd quarter valued at $120,553,000. International Assets Investment Management LLC bought a new stake in shares of Axon Enterprise during the 3rd quarter valued at $871,860,000. Westfield Capital Management Co. LP raised its stake in shares of Axon Enterprise by 12.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock valued at $469,661,000 after purchasing an additional 127,769 shares during the period. Finally, Swedbank AB bought a new stake in shares of Axon Enterprise during the 1st quarter valued at $39,923,000. 79.08% of the stock is currently owned by institutional investors.

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.