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

Axon Enterprise, Inc. (NASDAQ:AXON) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 2,460,000 shares, an increase of 16.0% from the September 30th total of 2,120,000 shares. Based on an average daily trading volume, of 585,500 shares, the short-interest ratio is currently 4.2 days.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXON. Bank of America began coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They issued a “buy” rating and a $380.00 target price for the company. Barclays boosted their target price on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their target price 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. Craig Hallum boosted their target price on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Northland Securities boosted their target price on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus price target of $382.85.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $443.01 on Wednesday. The business has a 50 day moving average of $398.94 and a 200-day moving average of $338.43. Axon Enterprise has a 1 year low of $199.50 and a 1 year high of $455.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52. The company has a market capitalization of $33.43 billion, a P/E ratio of 129.82, a P/E/G ratio of 11.91 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON) last released 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. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The company had revenue of $504.00 million during the quarter, compared to the consensus estimate of $478.35 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The firm’s revenue was up 34.5% compared to the same quarter last year. On average, equities research analysts predict that Axon Enterprise will post 1.79 earnings per share for the current year.

Insider Buying and Selling

In other Axon Enterprise news, Director Julie A. Cullivan sold 900 shares of Axon Enterprise stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $353.53, for a total transaction of $318,177.00. Following the completion of the transaction, the director now directly owns 3,653 shares of the company’s stock, valued at $1,291,445.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Axon Enterprise news, President Joshua Isner sold 25,811 shares of Axon Enterprise stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $359.84, for a total transaction of $9,287,830.24. Following the completion of the transaction, the president now directly owns 228,166 shares of the company’s stock, valued at $82,103,253.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julie A. Cullivan sold 900 shares of Axon Enterprise stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $353.53, for a total transaction of $318,177.00. Following the transaction, the director now directly owns 3,653 shares of the company’s stock, valued at approximately $1,291,445.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,172 shares of company stock worth $137,000,162. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

A number of institutional investors and hedge funds have recently modified their holdings of AXON. Brookstone Capital Management boosted its holdings in shares of Axon Enterprise by 5.1% during the 1st quarter. Brookstone Capital Management now owns 839 shares of the biotechnology company’s stock worth $263,000 after buying an additional 41 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Axon Enterprise by 4.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,519 shares of the biotechnology company’s stock worth $2,353,000 after purchasing an additional 319 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Axon Enterprise in the 1st quarter worth $392,000. SteelPeak Wealth LLC bought a new position in shares of Axon Enterprise in the 1st quarter worth $209,000. Finally, Diversified Trust Co lifted its holdings in shares of Axon Enterprise by 61.3% in the 1st quarter. Diversified Trust Co now owns 2,140 shares of the biotechnology company’s stock worth $670,000 after purchasing an additional 813 shares in the last quarter. 79.08% of the stock is currently 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.