Short Interest in Axon Enterprise, Inc (NASDAQ:AXON) Expands By 21.3%

Axon Enterprise, Inc (NASDAQ:AXON) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 2,655,644 shares, a growth of 21.3% from the December 31st total of 2,189,992 shares. Based on an average daily volume of 685,615 shares, the days-to-cover ratio is currently 3.9 days. Currently, 3.6% of the company’s shares are sold short. Currently, 3.6% of the company’s shares are sold short. Based on an average daily volume of 685,615 shares, the days-to-cover ratio is currently 3.9 days.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AXON. Northcoast Research upgraded Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target on the stock in a research report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research report on Monday, December 29th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. William Blair reaffirmed an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday. Finally, UBS Group decreased their price target on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus target price of $805.71.

Insider Activity

In related news, CFO Brittany Bagley sold 2,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $580.00, for a total transaction of $1,160,000.00. Following the transaction, the chief financial officer owned 103,501 shares in the company, valued at $60,030,580. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer H. Mak sold 1,134 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $600.00, for a total transaction of $680,400.00. Following the completion of the transaction, the chief accounting officer directly owned 13,740 shares of the company’s stock, valued at approximately $8,244,000. The trade was a 7.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 60,540 shares of company stock worth $34,684,738. 4.40% of the stock is owned by company insiders.

Institutional Trading of Axon Enterprise

Institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its position in shares of Axon Enterprise by 1,198.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock valued at $932,869,000 after buying an additional 1,516,099 shares during the last quarter. Vestor Capital LLC raised its position in Axon Enterprise by 438,636.3% in the 2nd quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock worth $690,170,000 after buying an additional 833,409 shares during the last quarter. Norges Bank bought a new position in Axon Enterprise during the 2nd quarter valued at about $637,806,000. Vanguard Group Inc. lifted its stake in Axon Enterprise by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock valued at $6,684,217,000 after acquiring an additional 376,904 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Axon Enterprise by 53.8% during the 3rd quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock valued at $677,412,000 after acquiring an additional 330,213 shares during the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $430.65 on Thursday. Axon Enterprise has a 1 year low of $420.57 and a 1 year high of $885.91. The firm’s 50-day moving average is $573.44 and its 200 day moving average is $662.79. The stock has a market cap of $33.98 billion, a price-to-earnings ratio of 136.28, a PEG ratio of 13.59 and a beta of 1.48. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The firm had revenue of $710.64 million for the quarter, compared to the consensus estimate of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.45 earnings per share. Sell-side analysts anticipate that Axon Enterprise will post 5.8 EPS for the current fiscal year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.