Axon Enterprise (NASDAQ:AXON) Stock Price Down 4.2% – Here’s Why

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price was down 4.2% during trading on Monday . The company traded as low as $603.33 and last traded at $618.14. Approximately 273,497 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 571,426 shares. The stock had previously closed at $644.91.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AXON shares. Robert W. Baird increased their price objective on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. JMP Securities raised their price target on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group boosted 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. Northland Securities raised their target price on shares of Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC increased their price objective on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $488.67.

Axon Enterprise Trading Up 0.3 %

The firm has a market capitalization of $49.30 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 50-day simple moving average is $539.52 and its 200-day simple moving average is $406.30. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling

In other Axon Enterprise news, CEO Patrick W. Smith sold 47,314 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $400.07, for a total transaction of $18,928,911.98. Following the completion of the sale, the chief executive officer now directly owns 2,983,802 shares in the company, valued at approximately $1,193,729,666.14. The trade was a 1.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeri Williams sold 110 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $400.00, for a total value of $44,000.00. Following the completion of the transaction, the director now owns 1,934 shares in the company, valued at approximately $773,600. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 98,590 shares of company stock valued at $48,795,917 over the last quarter. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Axon Enterprise

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Axon Enterprise by 987.5% in the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 79 shares during the period. Quent Capital LLC grew its holdings in shares of Axon Enterprise by 1,875.0% during the third quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock worth $32,000 after buying an additional 75 shares in the last quarter. Prestige Wealth Management Group LLC boosted its holdings in shares of Axon Enterprise by 115.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 44 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Axon Enterprise in the 3rd quarter valued at approximately $41,000. Finally, Asset Dedication LLC purchased a new stake in Axon Enterprise in the second quarter valued at approximately $47,000. 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.