Short Interest in Axon Enterprise, Inc. (NASDAQ:AXON) Declines By 12.4%

Axon Enterprise, Inc. (NASDAQ:AXON) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 2,260,000 shares, a decline of 12.4% from the November 15th total of 2,580,000 shares. Based on an average daily trading volume, of 711,500 shares, the short-interest ratio is presently 3.2 days.

Axon Enterprise Trading Up 1.3 %

Shares of AXON stock traded up $8.50 during trading on Friday, hitting $644.91. 557,664 shares of the stock traded hands, compared to its average volume of 792,830. Axon Enterprise has a 52-week low of $241.72 and a 52-week high of $698.67. The firm has a market capitalization of $49.17 billion, a P/E ratio of 166.64, a price-to-earnings-growth ratio of 14.19 and a beta of 1.01. The firm’s fifty day moving average price is $539.52 and its 200-day moving average price is $405.45. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63.

Analysts Set New Price Targets

AXON has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JMP Securities boosted their price objective on Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Northland Securities increased their target price on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Needham & Company LLC upped their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Morgan Stanley upgraded shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $500.00 to $700.00 in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $488.67.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $380.99, for a total value of $380,990.00. Following the completion of the transaction, the director now directly owns 27,259 shares of the company’s stock, valued at approximately $10,385,406.41. The trade was a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick W. Smith sold 47,314 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $400.07, for a total transaction of $18,928,911.98. Following the sale, the chief executive officer now directly owns 2,983,802 shares in the company, valued at $1,193,729,666.14. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,590 shares of company stock worth $49,176,907. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Axon Enterprise

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brass Tax Wealth Management Inc. purchased a new stake in shares of Axon Enterprise in the 3rd quarter valued at approximately $240,000. Oddo BHF Asset Management Sas acquired a new stake in shares of Axon Enterprise in the third quarter valued at $1,522,000. Denver PWM LLC lifted its stake in Axon Enterprise by 69.7% during the 3rd quarter. Denver PWM LLC now owns 414 shares of the biotechnology company’s stock worth $165,000 after acquiring an additional 170 shares in the last quarter. Tidal Investments LLC boosted its holdings in Axon Enterprise by 13.8% during the 3rd quarter. Tidal Investments LLC now owns 3,250 shares of the biotechnology company’s stock valued at $1,299,000 after acquiring an additional 394 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Axon Enterprise during the third quarter worth about $759,000. 79.08% of the stock is currently owned by hedge funds and other 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.