Axon Enterprise (NASDAQ:AXON) Trading Down 6.4% – Should You Sell?

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price fell 6.4% during trading on Wednesday . The stock traded as low as $662.41 and last traded at $664.33. 293,435 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 572,517 shares. The stock had previously closed at $710.01.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Needham & Company LLC lifted their target price on shares of Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a report on Friday, November 8th. Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday. Northland Securities increased their target price on shares of Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Finally, Craig Hallum downgraded Axon Enterprise from a “buy” rating to a “hold” rating and set a $625.00 price target on the stock. in a research report on Thursday. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $561.31.

Axon Enterprise Stock Performance

The firm’s 50 day simple moving average is $622.57 and its 200-day simple moving average is $515.53. The company has a market cap of $39.13 billion, a price-to-earnings ratio of 132.62, a PEG ratio of 5.95 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 Buying and Selling at Axon Enterprise

In other Axon Enterprise news, Director Julie A. Cullivan sold 1,261 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total value of $860,077.66. Following the completion of the sale, the director now directly owns 2,392 shares in the company, valued at $1,631,487.52. This represents a 34.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey C. Kunins sold 2,304 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $654.79, for a total value of $1,508,636.16. Following the completion of the sale, the insider now directly owns 128,542 shares of the company’s stock, valued at $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. In the last quarter, insiders sold 8,711 shares of company stock worth $5,631,561. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds have recently modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new position in Axon Enterprise during the fourth quarter worth about $30,000. Prestige Wealth Management Group LLC raised its position in shares of Axon Enterprise by 115.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 44 shares during the period. New Wave Wealth Advisors LLC acquired a new position in Axon Enterprise in the fourth quarter valued at approximately $40,000. Brooklyn Investment Group acquired a new position in Axon Enterprise in the third quarter valued at approximately $41,000. Finally, Y.D. More Investments Ltd purchased a new position in Axon Enterprise in the fourth quarter worth approximately $45,000. 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.