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

Axon Enterprise, Inc. (NASDAQ:AXON) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 2,110,000 shares, a decline of 11.3% from the August 15th total of 2,380,000 shares. Based on an average trading volume of 557,700 shares, the days-to-cover ratio is presently 3.8 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AXON shares. Jefferies Financial Group assumed coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $385.00 price target on the stock. Craig Hallum raised their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. JMP Securities raised their price target on Axon Enterprise from $375.00 to $430.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 target price on shares of Axon Enterprise in a research report on Wednesday, August 7th. Finally, Bank of America started coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $380.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $365.38.

Axon Enterprise Price Performance

Shares of AXON traded up $2.07 during midday trading on Wednesday, reaching $384.64. The stock had a trading volume of 157,991 shares, compared to its average volume of 517,824. The firm’s 50 day moving average price is $342.26 and its 200-day moving average price is $315.72. 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 $29.03 billion, a P/E ratio of 111.85, a P/E/G ratio of 10.30 and a beta of 0.94. Axon Enterprise has a 52 week low of $189.12 and a 52 week high of $386.54.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share 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 firm 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 company earned $0.80 EPS. The firm’s revenue for the quarter was up 34.5% compared to the same quarter last year. On average, analysts forecast that Axon Enterprise will post 1.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In related news, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $380.99, for a total transaction of $380,990.00. Following the completion of the sale, the director now owns 27,259 shares in the company, valued at approximately $10,385,406.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Axon Enterprise news, CEO Patrick W. Smith sold 80,300 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the completion of the sale, the chief executive officer now owns 3,015,366 shares in the company, valued at approximately $1,121,052,771.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $380.99, for a total value of $380,990.00. Following the sale, the director now owns 27,259 shares in the company, valued at approximately $10,385,406.41. The disclosure for this sale can be found here. Insiders sold a total of 317,981 shares of company stock valued at $115,662,734 in the last three months. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Axon Enterprise

A number of institutional investors have recently made changes to their positions in AXON. Dorsey Wright & Associates raised its position in Axon Enterprise by 0.3% in the second quarter. Dorsey Wright & Associates now owns 14,053 shares of the biotechnology company’s stock valued at $4,135,000 after purchasing an additional 39 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in 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 buying an additional 40 shares during the last quarter. Brookstone Capital Management raised its stake in Axon Enterprise by 5.1% in the 1st quarter. Brookstone Capital Management now owns 839 shares of the biotechnology company’s stock valued at $263,000 after acquiring an additional 41 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Axon Enterprise by 1.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,997 shares of the biotechnology company’s stock valued at $1,033,000 after purchasing an additional 43 shares in the last quarter. Finally, CWM LLC raised its position in shares of Axon Enterprise by 1.5% in the second quarter. CWM LLC now owns 2,820 shares of the biotechnology company’s stock worth $830,000 after buying an additional 43 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

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.