Axon Enterprise, Inc. (NASDAQ:AXON) Short Interest Up 14.7% in January

Axon Enterprise, Inc. (NASDAQ:AXON) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,570,000 shares, a growth of 14.7% from the December 31st total of 2,240,000 shares. Based on an average trading volume of 883,200 shares, the days-to-cover ratio is presently 2.9 days.

Insiders Place Their Bets

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total value of $271,831.50. Following the transaction, the director now directly owns 6,929 shares of the company’s stock, valued at approximately $4,185,601.03. The trade was a 6.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Joshua Isner sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $606.15, for a total transaction of $12,123,000.00. Following the completion of the transaction, the president now directly owns 208,166 shares in the company, valued at $126,179,820.90. This trade represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,545 shares of company stock valued at $30,721,337 in the last three months. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC increased its position in shares of Axon Enterprise by 23.1% in the fourth quarter. Global Retirement Partners LLC now owns 974 shares of the biotechnology company’s stock worth $579,000 after purchasing an additional 183 shares during the last quarter. Bank of Jackson Hole Trust purchased a new stake in Axon Enterprise in the fourth quarter worth approximately $79,000. Venturi Wealth Management LLC boosted its stake in Axon Enterprise by 2.7% in the fourth quarter. Venturi Wealth Management LLC now owns 802 shares of the biotechnology company’s stock worth $477,000 after buying an additional 21 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Axon Enterprise by 127.0% in the fourth quarter. CIBC Asset Management Inc now owns 24,013 shares of the biotechnology company’s stock worth $14,271,000 after buying an additional 13,435 shares in the last quarter. Finally, Strategic Advisors LLC purchased a new stake in Axon Enterprise in the fourth quarter worth approximately $254,000. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Stock Down 0.2 %

AXON stock opened at $652.18 on Monday. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $619.63 and its 200 day moving average is $483.68. The stock has a market cap of $49.73 billion, a price-to-earnings ratio of 168.52, a price-to-earnings-growth ratio of 6.41 and a beta of 1.04. Axon Enterprise has a 1-year low of $247.04 and a 1-year high of $698.67.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AXON. TD Cowen began coverage on Axon Enterprise in a research note on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price objective on the stock. Needham & Company LLC boosted their price objective on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Robert W. Baird boosted their price objective on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. 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 note on Thursday, October 31st. Finally, Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $524.85.

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.