Short Interest in Axon Enterprise, Inc. (NASDAQ:AXON) Rises By 16.0%

Axon Enterprise, Inc. (NASDAQ:AXON) was the target of a large 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 volume of 585,500 shares, the short-interest ratio is currently 4.2 days.

Insider Activity

In related news, Director Matthew R. Mcbrady sold 2,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $364.66, for a total value of $729,320.00. Following the sale, the director now directly owns 4,892 shares in the company, valued at approximately $1,783,916.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Axon Enterprise news, Director Matthew R. Mcbrady sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $364.66, for a total value of $729,320.00. Following the sale, the director now owns 4,892 shares of the company’s stock, valued at $1,783,916.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $373.03, for a total value of $167,863.50. Following the transaction, the director now owns 7,379 shares of the company’s stock, valued at approximately $2,752,588.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,172 shares of company stock valued at $137,000,162 in the last quarter. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its position in shares of Axon Enterprise by 0.8% during the first quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock worth $1,659,000 after acquiring an additional 40 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in Axon Enterprise in the third quarter valued at $221,000. Sequoia Financial Advisors LLC raised its holdings in shares of Axon Enterprise by 4.9% in the third quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after buying an additional 81 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Axon Enterprise during the first quarter worth about $931,000. Finally, Zurich Insurance Group Ltd FI grew its holdings in shares of Axon Enterprise by 1.9% during the second quarter. Zurich Insurance Group Ltd FI now owns 205,015 shares of the biotechnology company’s stock worth $60,324,000 after buying an additional 3,832 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AXON. Bank of America began coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $380.00 price objective for the company. Northland Securities upped their price objective on Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. JMP Securities increased their price objective on Axon Enterprise from $375.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. The Goldman Sachs Group boosted their target price on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Needham & Company LLC increased their price target on Axon Enterprise from $400.00 to $525.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $382.85.

Axon Enterprise Stock Up 0.1 %

Shares of NASDAQ:AXON opened at $444.77 on Tuesday. The firm has a 50 day simple moving average of $397.53 and a 200-day simple moving average of $337.50. Axon Enterprise has a twelve month low of $199.50 and a twelve month high of $455.17. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $33.57 billion, a PE ratio of 130.05, 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 net margin of 16.06% and a return on equity of 9.34%. 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. Axon Enterprise’s revenue for the quarter was up 34.5% on a year-over-year basis. On average, equities analysts predict that Axon Enterprise will post 1.79 EPS for the current fiscal year.

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.