Short Interest in Axon Enterprise, Inc. (NASDAQ:AXON) Increases By 14.7%

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

Axon Enterprise Price Performance

NASDAQ:AXON traded up $8.05 on Friday, hitting $593.89. The company had a trading volume of 533,566 shares, compared to its average volume of 655,322. Axon Enterprise has a 52 week low of $247.04 and a 52 week high of $698.67. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $45.28 billion, a price-to-earnings ratio of 153.46, a PEG ratio of 5.71 and a beta of 1.04. The firm has a 50 day moving average of $617.55 and a two-hundred day moving average of $456.72.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AXON shares. TD Cowen assumed coverage on Axon Enterprise in a report on Wednesday, January 8th. They set a “buy” rating and a $700.00 target price for the company. JMP Securities raised their target price on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Needham & Company LLC raised their price objective on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group upped their target price on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $504.92.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $606.15, for a total transaction of $12,123,000.00. Following the completion of the sale, the president now owns 208,166 shares of the company’s stock, valued at approximately $126,179,820.90. The trade was a 8.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey C. Kunins sold 21,834 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $593.88, for a total transaction of $12,966,775.92. Following the completion of the transaction, the insider now directly owns 154,394 shares in the company, valued at approximately $91,691,508.72. This represents a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,545 shares of company stock worth $30,721,337. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AXON. Geode Capital Management LLC boosted its stake in shares of Axon Enterprise by 2.0% during the third quarter. Geode Capital Management LLC now owns 1,782,828 shares of the biotechnology company’s stock valued at $710,103,000 after purchasing an additional 35,320 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in Axon Enterprise by 12.2% during 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 acquiring an additional 127,769 shares during the last quarter. Champlain Investment Partners LLC increased its position in Axon Enterprise by 13.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company’s stock valued at $272,695,000 after acquiring an additional 83,265 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Axon Enterprise by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 561,263 shares of the biotechnology company’s stock valued at $224,281,000 after acquiring an additional 9,090 shares during the last quarter. Finally, Groupama Asset Managment bought a new stake in shares of Axon Enterprise in the third quarter worth $200,000. 79.08% of the stock is currently owned by institutional investors.

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.