Axon Enterprise (NASDAQ: AXON) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note released Friday to investors, Zacks.com reports.
According to Zacks, “Axon Enterprise, Inc. is dedicated to the development, manufacture and sale of electric conducted energy weapons for the law enforcement, federal government, military, corrections , private security and personal defense.Its business segment includes the TASER Weapons and Axon segments.The TASER Weapons segment involves the sale of electric discharge weapons, accessories and other products and services. The Axon segment focuses on devices, wearables, applications, cloud and mobile products. Axon Enterprise Inc., formerly known as TASER International Inc., is headquartered in Scottsdale, AZ.”
AXON has been the subject of a number of other reports. William Blair repeated an “outperforming” rating on Axon Enterprise shares in a Tuesday, November 16 report. JMP Securities began covering Axon Enterprise shares in a research report on Tuesday, December 14. They issued an “outperform” rating and a price target of $195.00 on the stock. Morgan Stanley lowered its price target on Axon Enterprise from $200.00 to $180.00 and set an “overweight” rating for the company in a Wednesday, Dec. 15 research note. Finally, Craig Hallum upgraded Axon Enterprise from a “hold” rating to a “buy” rating and set a price target of $232.00 for the company in a Tuesday, November 16 research note. One equity research analyst gave the stock a sell rating, seven issued a buy rating and one gave the company a strong buy rating. According to MarketBeat, Axon Enterprise currently has a consensus rating of “Buy” and an average target price of $210.00.
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AXON stock traded at $4.11 midday Friday, hitting $128.47. 331,755 shares of the company have been traded, compared to its average volume of 526,946. The company has a market capitalization of $8.80 billion, a price/earnings ratio of -321.17, a P/E ratio /G of 24.02 and a beta of 0.43. The company’s fifty-day moving average price is $144.46 and its 200-day moving average price is $166.11. Axon Enterprise has a 52 week minimum of $121.09 and a 52 week maximum of $209.00.
In other news, CEO Patrick W. Smith sold 39,291 shares of Axon Enterprise in a trade on Monday, November 29. The stock was sold at an average price of $180.15, for a total value of $7,078,273.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CRO Joshua Isner sold 276 shares of Axon Enterprise in a trade on Wednesday, December 1. The shares were sold at an average price of $162.89, for a total value of $44,957.64. The disclosure of this sale can be found here. In the past 90 days, insiders have bought 72,775 shares of the company worth $10,362,476 and sold 87,771 shares worth $15,603,466. Insiders of the company own 2.30% of the shares of the company.
A number of hedge funds have recently changed their stock holdings. Goldman Sachs Group Inc. increased its stake in Axon Enterprise by 8.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 205,694 shares of the biotech company valued at $32,294,000 after buying an additional 15,613 shares last quarter. Ulland Investment Advisors LLC bought a new stock position in Axon Enterprise in Q4 for $4,254,000. Thrivent Financial for Lutherans increased its position in Axon Enterprise shares by 0.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,317 shares of the biotech company worth $2,719,000 after purchasing an additional 150 shares during the period. Stephens Investment Management Group LLC increased its position in Axon Enterprise shares by 1.7% in the fourth quarter. Stephens Investment Management Group LLC now owns 539,234 shares of the biotech company worth $84,660,000 after purchasing an additional 9,004 shares during the period. Finally, Penserra Capital Management LLC raised its position in Axon Enterprise shares by 9.8% in the 4th quarter. Penserra Capital Management LLC now owns 14,363 shares of the biotech company worth $2,041,000 after purchasing an additional 1,284 shares during the period. Hedge funds and other institutional investors own 75.47% of the company’s shares.
Company Profile Axon Enterprise
Axon Enterprise, Inc engages in the development, manufacture, and sale of conducted energy weapons for personal defense. It operates through TASER Weapons and Software and Sensors segments. The TASER Weapons segment sells conducted energy weapons, accessories and other related products and services.
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