Axon Enterprise (NASDAQ:AXON) Trading Down 4.6% – What’s Next?

Axon Enterprise, Inc. (NASDAQ:AXON)’s stock price dropped 4.6% during mid-day trading on Monday . The company traded as low as $607.20 and last traded at $607.40. Approximately 283,240 shares changed hands during trading, a decline of 49% from the average daily volume of 554,681 shares. The stock had previously closed at $636.95.

Analyst Ratings Changes

AXON has been the topic of a number of analyst reports. Robert W. Baird boosted their price objective on Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. The Goldman Sachs Group boosted their target price on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JMP Securities boosted their target price on Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Barclays boosted their target price on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Northland Securities boosted 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. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus target price of $427.83.

Axon Enterprise Price Performance

The business has a fifty day moving average price of $473.23 and a 200-day moving average price of $372.97. 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 stock has a market capitalization of $48.42 billion, a PE ratio of 162.65, a PEG ratio of 13.62 and a beta of 0.94.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 25,811 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $359.84, for a total transaction of $9,287,830.24. Following the completion of the sale, the president now directly owns 228,166 shares in the company, valued at $82,103,253.44. This represents a 10.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Patrick W. Smith sold 50,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $364.02, for a total value of $18,201,000.00. Following the sale, the chief executive officer now owns 2,980,861 shares of the company’s stock, valued at $1,085,093,021.22. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 260,256 shares of company stock worth $105,984,120. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axon Enterprise

Several institutional investors have recently bought and sold shares of AXON. Groupama Asset Managment purchased a new stake in Axon Enterprise during the 3rd quarter valued at about $200,000. Massachusetts Financial Services Co. MA bought a new position in Axon Enterprise during the 3rd quarter valued at approximately $120,553,000. International Assets Investment Management LLC bought a new position in Axon Enterprise during the 3rd quarter valued at approximately $871,860,000. Westfield Capital Management Co. LP raised its position in Axon Enterprise by 12.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock valued at $469,661,000 after purchasing an additional 127,769 shares during the last quarter. Finally, Swedbank AB bought a new position in Axon Enterprise during the 1st quarter valued at approximately $39,923,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

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.