Axon Enterprise, Inc. (NASDAQ:AXON – Get Rating) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 1,930,000 shares, a growth of 7.8% from the April 30th total of 1,790,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the short-interest ratio is currently 1.7 days.
Insiders Place Their Bets
In other news, Director Caitlin Elizabeth Kalinowski sold 591 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $212.52, for a total value of $125,599.32. Following the completion of the transaction, the director now owns 8,179 shares in the company, valued at $1,738,201.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Hadi Partovi bought 10,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were acquired at an average cost of $190.75 per share, for a total transaction of $1,907,500.00. Following the completion of the acquisition, the director now owns 388,817 shares in the company, valued at $74,166,842.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Caitlin Elizabeth Kalinowski sold 591 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $212.52, for a total value of $125,599.32. Following the completion of the sale, the director now owns 8,179 shares in the company, valued at approximately $1,738,201.08. The disclosure for this sale can be found here. In the last three months, insiders have purchased 20,250 shares of company stock worth $3,957,700 and have sold 101,303 shares worth $21,945,534. Corporate insiders own 6.10% of the company’s stock.
Institutional Trading of Axon Enterprise
Several institutional investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new position in shares of Axon Enterprise during the 1st quarter worth about $25,000. ICA Group Wealth Management LLC bought a new stake in shares of Axon Enterprise during the fourth quarter valued at approximately $25,000. IFP Advisors Inc raised its position in shares of Axon Enterprise by 36.8% during the third quarter. IFP Advisors Inc now owns 364 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 98 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new position in Axon Enterprise during the fourth quarter worth $29,000. Finally, Hollencrest Capital Management bought a new position in shares of Axon Enterprise in the first quarter valued at $29,000. 75.62% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
AXON has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded Axon Enterprise from a “neutral” rating to an “overweight” rating and set a $236.00 target price on the stock in a research note on Thursday, May 11th. Raymond James downgraded shares of Axon Enterprise from a “strong-buy” rating to an “outperform” rating and set a $223.00 price target on the stock. in a research note on Friday, February 17th. The Goldman Sachs Group started coverage on shares of Axon Enterprise in a research note on Tuesday, March 7th. They issued a “buy” rating and a $263.00 price objective for the company. Barclays raised their target price on shares of Axon Enterprise from $222.00 to $256.00 in a report on Wednesday, May 10th. Finally, Credit Suisse Group boosted their price target on Axon Enterprise from $300.00 to $309.00 in a research note on Wednesday, May 10th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and an average target price of $232.64.
Axon Enterprise Price Performance
Shares of AXON opened at $194.95 on Tuesday. The company has a quick ratio of 2.97, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. The stock has a market cap of $14.40 billion, a PE ratio of 103.15 and a beta of 0.95. Axon Enterprise has a 12-month low of $83.01 and a 12-month high of $229.95. The business has a 50-day simple moving average of $210.18 and a two-hundred day simple moving average of $198.42.
Axon Enterprise (NASDAQ:AXON – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.28. The company had revenue of $336.14 million during the quarter, compared to the consensus estimate of $303.91 million. Axon Enterprise had a return on equity of 10.65% and a net margin of 10.76%. Analysts anticipate that Axon Enterprise will post 1.59 earnings per share for the current fiscal year.
Axon Enterprise Company Profile
Axon Enterprise, Inc engages in the development, manufacture, and sale of conducted electrical weapons for personal defense. It operates through the TASER segment and Software and Sensors segment. The TASER segment sells conducted electrical weapons, accessories, and other related products and services.
Further Reading
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