Axon Enterprise Inc (NASDAQ:AAXN)’s share price fell 5.9% during trading on Monday . The company traded as low as $46.77 and last traded at $46.99. 614,043 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 923,252 shares. The stock had previously closed at $49.95.

A number of research firms recently commented on AAXN. Craig Hallum downgraded Axon Enterprise from a “buy” rating to a “hold” rating and lifted their price target for the stock from $55.00 to $62.00 in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Raymond James began coverage on Axon Enterprise in a research note on Friday, September 14th. They issued an “outperform” rating and a $79.00 price target for the company. JPMorgan Chase & Co. upgraded Axon Enterprise from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $66.00 to $68.00 in a research note on Thursday, November 8th. BidaskClub downgraded Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Finally, LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $77.00 price target on shares of Axon Enterprise in a research note on Wednesday, August 8th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Axon Enterprise has an average rating of “Buy” and an average price target of $64.82.

The company has a market cap of $2.92 billion, a P/E ratio of 174.04, a P/E/G ratio of 3.82 and a beta of 1.00.

Axon Enterprise (NASDAQ:AAXN) last issued its earnings results on Tuesday, November 6th. The industrial products company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.05. Axon Enterprise had a return on equity of 10.74% and a net margin of 6.26%. The company had revenue of $104.84 million during the quarter, compared to the consensus estimate of $103.06 million. During the same period in the previous year, the firm posted $0.01 earnings per share. Axon Enterprise’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, analysts anticipate that Axon Enterprise Inc will post 0.52 earnings per share for the current fiscal year.

In other news, Director Mark W. Kroll sold 3,100 shares of Axon Enterprise stock in a transaction that occurred on Sunday, December 16th. The stock was sold at an average price of $22.85, for a total transaction of $70,835.00. Following the sale, the director now owns 55,135 shares of the company’s stock, valued at $1,259,834.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas E. Klint sold 25,000 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $69.82, for a total value of $1,745,500.00. Following the sale, the insider now directly owns 104,341 shares in the company, valued at approximately $7,285,088.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,100 shares of company stock valued at $2,015,035. 3.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAXN. Steward Partners Investment Advisory LLC raised its holdings in shares of Axon Enterprise by 1,515.0% during the third quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock valued at $111,000 after buying an additional 1,515 shares during the last quarter. BerganKDV Wealth Management LLC bought a new stake in shares of Axon Enterprise during the second quarter valued at approximately $126,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Axon Enterprise during the second quarter valued at approximately $147,000. First Mercantile Trust Co. raised its holdings in shares of Axon Enterprise by 100.0% during the third quarter. First Mercantile Trust Co. now owns 2,400 shares of the industrial products company’s stock valued at $164,000 after buying an additional 1,200 shares during the last quarter. Finally, Advisors Preferred LLC bought a new stake in shares of Axon Enterprise during the second quarter valued at approximately $175,000. 81.89% of the stock is currently owned by institutional investors.

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About Axon Enterprise (NASDAQ:AAXN)

Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.

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