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

Axon Enterprise, Inc. (NASDAQ:AXON) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 2,460,000 shares, a growth of 16.0% from the September 30th total of 2,120,000 shares. Based on an average trading volume of 585,500 shares, the short-interest ratio is presently 4.2 days.

Insiders Place Their Bets

In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total value of $437,980.00. Following the completion of the sale, the director now directly owns 26,259 shares of the company’s stock, valued at $11,500,916.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Julie A. Cullivan sold 900 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $353.53, for a total transaction of $318,177.00. Following the completion of the sale, the director now directly owns 3,653 shares of the company’s stock, valued at approximately $1,291,445.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total transaction of $437,980.00. Following the sale, the director now directly owns 26,259 shares of the company’s stock, valued at approximately $11,500,916.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 371,172 shares of company stock valued at $137,000,162 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Axon Enterprise

A number of hedge funds and other institutional investors have recently made changes to their positions in AXON. Avantax Advisory Services Inc. increased its holdings in Axon Enterprise by 0.8% during the first quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock worth $1,659,000 after buying an additional 40 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in Axon Enterprise during the third quarter worth $221,000. Sequoia Financial Advisors LLC increased its holdings in Axon Enterprise by 4.9% during the third quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock worth $690,000 after buying an additional 81 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Axon Enterprise during the first quarter worth $931,000. Finally, Zurich Insurance Group Ltd FI increased its holdings in Axon Enterprise by 1.9% during the second quarter. Zurich Insurance Group Ltd FI now owns 205,015 shares of the biotechnology company’s stock worth $60,324,000 after buying an additional 3,832 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America started coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $380.00 price objective for the company. Robert W. Baird increased their price target on shares of Axon Enterprise from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group assumed coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $385.00 price target for the company. Finally, Needham & Company LLC increased their target price on shares of Axon Enterprise from $400.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average price target of $382.85.

Axon Enterprise Stock Down 0.2 %

Axon Enterprise stock opened at $443.01 on Wednesday. The company’s 50 day simple moving average is $398.94 and its 200 day simple moving average is $338.43. Axon Enterprise has a fifty-two week low of $199.50 and a fifty-two week high of $455.17. The firm has a market capitalization of $33.43 billion, a price-to-earnings ratio of 129.82, a PEG ratio of 11.91 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.02 by $0.18. The firm had revenue of $504.00 million for the quarter, compared to the consensus estimate of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The business’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. As a group, sell-side analysts anticipate that Axon Enterprise will post 1.79 EPS for the current year.

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.