Axon Enterprise (NASDAQ:AXON) Shares Down 5.1% – Time to Sell?

Axon Enterprise, Inc. (NASDAQ:AXON)’s stock price dropped 5.1% during mid-day trading on Monday . The stock traded as low as $567.39 and last traded at $570.13. Approximately 158,486 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 328,950 shares. The stock had previously closed at $601.06.

Wall Street Analyst Weigh In

AXON has been the topic of several research analyst reports. Needham & Company LLC increased their price target on shares of Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JMP Securities increased their price target on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Morgan Stanley raised shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their target price 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, Robert W. Baird upped their target price on shares of Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $488.67.

Axon Enterprise Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The stock has a market cap of $43.10 billion, a price-to-earnings ratio of 146.05, a price-to-earnings-growth ratio of 14.19 and a beta of 1.04. The business’s 50-day simple moving average is $593.68 and its two-hundred day simple moving average is $441.20.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 450 shares of Axon Enterprise stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total value of $271,831.50. Following the completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total transaction of $437,980.00. Following the transaction, the director now owns 26,259 shares of the company’s stock, valued at $11,500,916.82. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,545 shares of company stock worth $31,159,317. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. 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 valued at $32,000 after buying an additional 75 shares during the last quarter. Prestige Wealth Management Group LLC raised its position in shares of Axon Enterprise by 115.8% in the third quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 44 shares during the period. Brooklyn Investment Group bought a new stake in Axon Enterprise during the 3rd quarter worth approximately $41,000. Asset Dedication LLC bought a new stake in Axon Enterprise during the 2nd quarter worth approximately $47,000. Finally, Planning Capital Management Corp increased its holdings in shares of Axon Enterprise by 83.3% in the 3rd quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock worth $48,000 after buying an additional 55 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.