Axon Enterprise (NASDAQ:AXON) Downgraded to Hold Rating by Craig Hallum

Axon Enterprise (NASDAQ:AXON) was downgraded by research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a report issued on Thursday,Briefing.com Automated Import reports. They presently have a $625.00 price target on the biotechnology company’s stock. Craig Hallum’s price target would suggest a potential upside of 5.32% from the company’s current price.

AXON has been the subject of a number of other reports. Robert W. Baird lifted their price objective 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. JMP Securities lifted their price objective on shares of Axon Enterprise from $610.00 to $725.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 4th. Morgan Stanley raised shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. Needham & Company LLC lifted their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $561.31.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $593.42 on Thursday. Axon Enterprise has a 52-week low of $260.27 and a 52-week high of $715.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The company has a market capitalization of $45.25 billion, a P/E ratio of 153.34, a P/E/G ratio of 7.12 and a beta of 1.05. The company has a fifty day moving average of $624.50 and a 200-day moving average of $515.36.

Insider Activity

In other news, Director Julie A. Cullivan sold 1,261 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $682.06, for a total transaction of $860,077.66. Following the completion of the transaction, the director now directly owns 2,392 shares of the company’s stock, valued at approximately $1,631,487.52. This represents a 34.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey C. Kunins sold 2,304 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $654.79, for a total transaction of $1,508,636.16. Following the transaction, the insider now directly owns 128,542 shares of the company’s stock, valued at approximately $84,168,016.18. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,711 shares of company stock valued at $5,631,561. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

Several hedge funds and other institutional investors have recently modified their holdings of AXON. Blue Trust Inc. increased its position in shares of Axon Enterprise by 234.5% during the third quarter. Blue Trust Inc. now owns 291 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 204 shares during the period. Foundations Investment Advisors LLC purchased a new position in shares of Axon Enterprise during the third quarter valued at about $221,000. Sequoia Financial Advisors LLC increased its position in shares of Axon Enterprise by 4.9% during the third quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after buying an additional 81 shares during the period. Signaturefd LLC increased its position in shares of Axon Enterprise by 16.3% during the third quarter. Signaturefd LLC now owns 655 shares of the biotechnology company’s stock valued at $262,000 after buying an additional 92 shares during the period. Finally, Private Advisor Group LLC increased its position in shares of Axon Enterprise by 19.8% during the third quarter. Private Advisor Group LLC now owns 12,382 shares of the biotechnology company’s stock valued at $4,948,000 after buying an additional 2,043 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

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.