Axon Enterprise (NASDAQ:AXON) Sees Unusually-High Trading Volume – Here’s What Happened

Axon Enterprise, Inc. (NASDAQ:AXON) saw an uptick in trading volume on Thursday . 1,004,322 shares changed hands during mid-day trading, an increase of 55% from the previous session’s volume of 646,930 shares.The stock last traded at $538.19 and had previously closed at $593.42.

Analyst Ratings Changes

AXON has been the topic of several research analyst reports. Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday. Northland Securities lifted their price target on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, November 11th. JMP Securities increased their price objective on Axon Enterprise from $610.00 to $725.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 4th. Robert W. Baird raised their price target on shares of Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $500.00 to $700.00 in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and a consensus price target of $561.31.

Axon Enterprise Stock Down 10.0 %

The firm’s fifty day moving average is $624.50 and its 200-day moving average is $515.36. The company has a market capitalization of $40.73 billion, a P/E ratio of 138.01, a price-to-earnings-growth ratio of 7.12 and a beta of 1.05. 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 Transactions at Axon Enterprise

In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey C. Kunins sold 2,304 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $654.79, for a total value of $1,508,636.16. Following the transaction, the insider now directly owns 128,542 shares of the company’s stock, valued at $84,168,016.18. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,711 shares of company stock worth $5,631,561 in the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Institutional investors and hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank boosted its stake in Axon Enterprise by 38.3% in the 4th quarter. Toronto Dominion Bank now owns 33,273 shares of the biotechnology company’s stock worth $19,775,000 after purchasing an additional 9,209 shares during the period. Cache Advisors LLC purchased a new position in Axon Enterprise during the 4th quarter valued at approximately $2,379,000. GF Fund Management CO. LTD. bought a new position in shares of Axon Enterprise during the 4th quarter valued at approximately $4,656,000. Fourth Dimension Wealth LLC bought a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $30,000. Finally, Pinkerton Retirement Specialists LLC purchased a new position in shares of Axon Enterprise during the fourth quarter valued at approximately $1,002,000. 79.08% of the stock is owned by 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.