Axon Enterprise (NASDAQ:AXON) Downgraded to “Hold” Rating by Craig Hallum

Craig Hallum lowered shares of Axon Enterprise (NASDAQ:AXON) from a buy rating to a hold rating in a research report released on Thursday morning, MarketBeat Ratings reports. They currently have $625.00 target price on the biotechnology company’s stock.

Several other equities research analysts also recently issued reports on the stock. JMP Securities raised their price objective on shares of Axon Enterprise from $610.00 to $725.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 4th. Northland Securities boosted their price target on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. Needham & Company LLC lifted their target price on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Northcoast Research downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $561.31.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $540.00 on Thursday. The stock has a market cap of $41.18 billion, a PE ratio of 139.54, a P/E/G ratio of 5.95 and a beta of 1.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The firm has a 50-day moving average of $622.57 and a 200-day moving average of $515.53. Axon Enterprise has a 52-week low of $260.27 and a 52-week high of $715.99.

Insider Buying and Selling

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total transaction of $271,831.50. Following the completion of the transaction, the director now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $639.69, for a total transaction of $639,690.00. Following the completion of the sale, the director now owns 24,259 shares in the company, valued at approximately $15,518,239.71. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,711 shares of company stock worth $5,631,561. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Axon Enterprise

Hedge funds have recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board boosted its holdings in shares of Axon Enterprise by 19.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company’s stock valued at $1,240,000 after acquiring an additional 500 shares in the last quarter. CIBC Asset Management Inc raised its position in Axon Enterprise by 9.2% in the third quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock valued at $4,227,000 after purchasing an additional 895 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Axon Enterprise during the third quarter valued at about $221,000. Sequoia Financial Advisors LLC boosted its stake in shares of Axon Enterprise by 4.9% during the third quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 81 shares in the last quarter. Finally, Axxcess Wealth Management LLC bought a new stake in shares of Axon Enterprise during the third quarter worth about $814,000. Institutional investors and hedge funds 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.