Axon Enterprise (NASDAQ:AXON) Sets New 52-Week High Following Analyst Upgrade

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price reached a new 52-week high during mid-day trading on Friday after JMP Securities raised their price target on the stock from $375.00 to $430.00. JMP Securities currently has an outperform rating on the stock. Axon Enterprise traded as high as $384.89 and last traded at $384.07, with a volume of 219201 shares changing hands. The stock had previously closed at $384.51.

AXON has been the subject of a number of other reports. Barclays upped their price objective on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $385.00 price objective on the stock. Bank of America initiated coverage on Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $380.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Axon Enterprise in a report on Wednesday, August 7th. Finally, Robert W. Baird lifted their price target on shares of Axon Enterprise from $360.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $365.38.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, Director Matthew R. Mcbrady sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $364.66, for a total value of $729,320.00. Following the transaction, the director now directly owns 4,892 shares of the company’s stock, valued at approximately $1,783,916.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Patrick W. Smith sold 80,300 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the transaction, the chief executive officer now owns 3,015,366 shares of the company’s stock, valued at $1,121,052,771.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew R. Mcbrady sold 2,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $364.66, for a total value of $729,320.00. Following the completion of the sale, the director now directly owns 4,892 shares of the company’s stock, valued at $1,783,916.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 316,981 shares of company stock valued at $115,281,744. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new position in shares of Axon Enterprise in the 4th quarter valued at about $26,000. Blue Trust Inc. boosted its stake in Axon Enterprise by 987.5% in the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 79 shares during the period. Trivant Custom Portfolio Group LLC bought a new position in shares of Axon Enterprise during the first quarter valued at approximately $31,000. First PREMIER Bank acquired a new stake in shares of Axon Enterprise during the 1st quarter worth approximately $33,000. Finally, Blue Bell Private Wealth Management LLC bought a new stake in shares of Axon Enterprise in the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Stock Down 1.3 %

The firm has a market cap of $28.69 billion, a price-to-earnings ratio of 111.00, a price-to-earnings-growth ratio of 9.69 and a beta of 0.94. The stock has a 50-day moving average of $338.92 and a 200-day moving average of $314.35. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.02 by $0.18. The business had revenue of $504.00 million during the quarter, compared to analyst estimates of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The company’s quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, sell-side analysts forecast that Axon Enterprise, Inc. will post 1.79 EPS for the current fiscal year.

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.