Axon Enterprise, Inc. (NASDAQ:AXON) Short Interest Up 14.7% in January

Axon Enterprise, Inc. (NASDAQ:AXON) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 2,570,000 shares, an increase of 14.7% from the December 31st total of 2,240,000 shares. Based on an average daily volume of 883,200 shares, the days-to-cover ratio is presently 2.9 days.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AXON shares. JMP Securities raised their price target on Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Robert W. Baird increased their price objective on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Northland Securities increased their price objective on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. The Goldman Sachs Group increased their price objective on Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Needham & Company LLC increased their price objective on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $524.85.

Insider Activity

In related news, insider Jeffrey C. Kunins sold 21,834 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $593.88, for a total value of $12,966,775.92. Following the completion of the sale, the insider now owns 154,394 shares of the company’s stock, valued at $91,691,508.72. This trade represents a 12.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Joshua Isner sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $606.15, for a total value of $12,123,000.00. Following the completion of the sale, the president now directly owns 208,166 shares of the company’s stock, valued at $126,179,820.90. The trade was a 8.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,545 shares of company stock valued at $30,721,337. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently modified their holdings of the stock. Groupama Asset Managment bought a new stake in Axon Enterprise in the 3rd quarter worth about $200,000. Massachusetts Financial Services Co. MA bought a new stake in Axon Enterprise in the 3rd quarter worth about $120,553,000. International Assets Investment Management LLC bought a new stake in Axon Enterprise in the 3rd quarter worth about $871,860,000. Westfield Capital Management Co. LP increased its holdings in Axon Enterprise by 12.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock worth $469,661,000 after buying an additional 127,769 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Axon Enterprise by 328.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 145,299 shares of the biotechnology company’s stock worth $86,354,000 after buying an additional 111,405 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $652.18 on Monday. Axon Enterprise has a 1-year low of $247.04 and a 1-year high of $698.67. 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 business has a fifty day moving average price of $619.63 and a 200-day moving average price of $483.68. The company has a market capitalization of $49.73 billion, a PE ratio of 168.52, a PEG ratio of 6.41 and a beta of 1.04.

Axon Enterprise Company Profile

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.