Axon Enterprise (NASDAQ:AXON) Lowered to “Hold” Rating by Craig Hallum

Craig Hallum cut shares of Axon Enterprise (NASDAQ:AXON) from a buy rating to a hold rating in a research note published on Thursday, MarketBeat reports. The brokerage currently has $625.00 price objective on the biotechnology company’s stock.

Several other analysts also recently issued reports on AXON. Morgan Stanley raised shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. TD Cowen began coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price target for the company. The Goldman Sachs Group increased their price target on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a report on Monday, January 27th. JMP Securities increased their price target on shares of Axon Enterprise from $610.00 to $725.00 and gave the company a “market outperform” rating in a report on Tuesday, February 4th. Finally, Northcoast Research downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $561.31.

Axon Enterprise Price Performance

NASDAQ AXON opened at $513.22 on Thursday. 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 has a fifty day simple moving average of $619.94 and a 200 day simple moving average of $518.66. The company has a market cap of $39.13 billion, a P/E ratio of 132.62, a P/E/G ratio of 5.43 and a beta of 1.05. Axon Enterprise has a 1 year low of $265.32 and a 1 year high of $715.99.

Insider Transactions at Axon Enterprise

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total transaction of $271,831.50. Following the completion of the sale, the director now owns 6,929 shares in the company, valued at $4,185,601.03. This trade represents a 6.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Joshua Isner sold 1,291 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $642.43, for a total transaction of $829,377.13. Following the sale, the president now owns 181,892 shares of the company’s stock, valued at $116,852,877.56. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,711 shares of company stock valued at $5,631,561. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds have recently made changes to their positions in the company. Public Sector Pension Investment Board increased its position in shares of Axon Enterprise by 19.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company’s stock worth $1,240,000 after purchasing an additional 500 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Axon Enterprise by 9.2% during the 3rd quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock worth $4,227,000 after purchasing an additional 895 shares in the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Axon Enterprise during the 3rd quarter worth about $221,000. Sequoia Financial Advisors LLC increased its position in shares of Axon Enterprise by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock worth $690,000 after purchasing an additional 81 shares in the last quarter. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Axon Enterprise during the 3rd quarter worth about $814,000. Institutional investors and hedge funds 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.