Axon Enterprise (NASDAQ:AXON) Shares Down 5.1% - Here's Why

Axon Enterprise, Inc. (NASDAQ:AXON - Get Free Report)'s stock price fell 5.1% on Monday . The stock traded as low as $567.39 and last traded at $570.13. 158,486 shares traded hands during trading, a decline of 52% from the average session volume of 328,950 shares. The stock had previously closed at $601.06.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AXON shares. Northland Securities lifted their target price on shares of Axon Enterprise from $365.00 to $550.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. JMP Securities lifted their price objective on Axon Enterprise from $430.00 to $500.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 31st. Morgan Stanley upgraded Axon Enterprise from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. Robert W. Baird upped their price objective on Axon Enterprise from $600.00 to $800.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Finally, The Goldman Sachs Group lifted their price objective on Axon Enterprise from $385.00 to $441.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $488.67.

Axon Enterprise Price Performance

The company has a market capitalization of $43.52 billion, a PE ratio of 147.47, a PEG ratio of 14.19 and a beta of 1.04. 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 company's 50 day moving average price is $596.20 and its 200-day moving average price is $443.16.

Insiders Place Their Bets

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of Axon Enterprise stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total transaction of $271,831.50. Following the transaction, the director now owns 6,929 shares in the company, 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 can be accessed through this link. Also, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total value of $437,980.00. Following the completion of the sale, the director now owns 26,259 shares of the company's stock, valued at approximately $11,500,916.82. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,545 shares of company stock worth $31,159,317 over the last three months. 6.10% of the stock is owned by insiders.

Institutional Trading of Axon Enterprise

Several large investors have recently bought and sold shares of AXON. Insigneo Advisory Services LLC boosted its stake in shares of Axon Enterprise by 1.4% in the third quarter. Insigneo Advisory Services LLC now owns 1,568 shares of the biotechnology company's stock valued at $627,000 after purchasing an additional 22 shares during the period. Menard Financial Group LLC boosted its position in Axon Enterprise by 0.8% in the 3rd quarter. Menard Financial Group LLC now owns 3,014 shares of the biotechnology company's stock valued at $1,204,000 after buying an additional 24 shares during the last quarter. PFG Investments LLC grew its stake in shares of Axon Enterprise by 0.6% during the third quarter. PFG Investments LLC now owns 3,872 shares of the biotechnology company's stock valued at $1,547,000 after acquiring an additional 25 shares in the last quarter. Gladstone Institutional Advisory LLC increased its position in shares of Axon Enterprise by 1.6% during the third quarter. Gladstone Institutional Advisory LLC now owns 1,641 shares of the biotechnology company's stock worth $656,000 after acquiring an additional 26 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in shares of Axon Enterprise by 3.7% in the third quarter. Mather Group LLC. now owns 759 shares of the biotechnology company's stock worth $303,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

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.