Axon Enterprise, Inc. (NASDAQ:AXON) Sees Significant Growth in Short Interest

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

Axon Enterprise Stock Up 1.4 %

NASDAQ:AXON traded up $8.05 on Friday, hitting $593.89. The stock had a trading volume of 533,566 shares, compared to its average volume of 1,040,913. Axon Enterprise has a 1 year low of $247.04 and a 1 year high of $698.67. The firm’s fifty day simple moving average is $617.37 and its two-hundred day simple moving average is $459.99. The stock has a market cap of $45.28 billion, a P/E ratio of 153.46, a price-to-earnings-growth ratio of 5.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96.

Insider Buying and Selling

In related news, President Joshua Isner sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $606.15, for a total transaction of $12,123,000.00. Following the transaction, the president now owns 208,166 shares in the company, valued at $126,179,820.90. The trade was a 8.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey C. Kunins sold 21,834 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $593.88, for a total transaction of $12,966,775.92. Following the transaction, the insider now directly owns 154,394 shares in the company, valued at approximately $91,691,508.72. This represents a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,545 shares of company stock valued at $30,721,337 over the last quarter. Insiders own 5.70% of the company’s stock.

Institutional Trading of Axon Enterprise

A number of institutional investors and hedge funds have recently modified their holdings of the business. Yeomans Consulting Group Inc. purchased a new stake in shares of Axon Enterprise during the 4th quarter valued at $434,000. MinichMacGregor Wealth Management LLC bought a new stake in Axon Enterprise in the fourth quarter worth about $297,000. Mutual Advisors LLC purchased a new position in Axon Enterprise in the fourth quarter valued at about $333,000. Magnus Financial Group LLC grew its position in shares of Axon Enterprise by 13.3% during the 4th quarter. Magnus Financial Group LLC now owns 2,584 shares of the biotechnology company’s stock valued at $1,536,000 after acquiring an additional 304 shares during the period. Finally, Dakota Wealth Management increased its stake in shares of Axon Enterprise by 38.2% during the 4th quarter. Dakota Wealth Management now owns 4,634 shares of the biotechnology company’s stock worth $2,754,000 after purchasing an additional 1,282 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AXON has been the topic of a number of research analyst reports. Robert W. Baird raised their target price on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. TD Cowen assumed coverage on Axon Enterprise in a research note on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price objective for the company. Northland Securities upped their target price on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. The Goldman Sachs Group lifted their price target on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC upped their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $504.92.

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.