Axon Enterprise (NASDAQ:AXON) Reaches New 1-Year High at $391.00

Axon Enterprise, Inc. (NASDAQ:AXON) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $391.00 and last traded at $385.93, with a volume of 32337 shares changing hands. The stock had previously closed at $383.01.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America assumed coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $380.00 target price for the company. Craig Hallum increased their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Barclays lifted their price target on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Northland Securities boosted their price target on Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, JMP Securities raised their price objective on Axon Enterprise from $375.00 to $430.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $365.38.

Axon Enterprise Stock Performance

The firm has a market capitalization of $29.21 billion, a price-to-earnings ratio of 111.99, a price-to-earnings-growth ratio of 10.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 2.88. The stock’s fifty day moving average is $344.06 and its two-hundred day moving average is $316.19.

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

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $380.99, for a total value of $380,990.00. Following the sale, the director now owns 27,259 shares in the company, valued at $10,385,406.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $380.99, for a total transaction of $380,990.00. Following the sale, the director now owns 27,259 shares of the company’s stock, valued at $10,385,406.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brittany Bagley sold 4,338 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $378.95, for a total value of $1,643,885.10. Following the completion of the sale, the chief financial officer now directly owns 98,825 shares in the company, valued at approximately $37,449,733.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 317,981 shares of company stock worth $115,662,734. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Axon Enterprise by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock worth $2,547,878,000 after purchasing an additional 212,401 shares during the period. Sands Capital Management LLC increased its position in shares of Axon Enterprise by 0.6% in the fourth quarter. Sands Capital Management LLC now owns 2,628,652 shares of the biotechnology company’s stock worth $679,060,000 after acquiring an additional 16,347 shares in the last quarter. Norges Bank acquired a new stake in shares of Axon Enterprise during the fourth quarter valued at approximately $195,406,000. Westfield Capital Management Co. LP lifted its position in shares of Axon Enterprise by 5.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 731,721 shares of the biotechnology company’s stock valued at $189,025,000 after acquiring an additional 35,528 shares in the last quarter. Finally, Motley Fool Asset Management LLC boosted its stake in Axon Enterprise by 238.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock worth $153,981,000 after purchasing an additional 346,838 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

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.