Axon Enterprise (NASDAQ:AXON) Reaches New 52-Week High – Here’s Why

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price reached a new 52-week high on Monday . The stock traded as high as $441.33 and last traded at $441.24, with a volume of 152275 shares traded. The stock had previously closed at $438.05.

Wall Street Analyst Weigh In

AXON has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC increased their target price on Axon Enterprise from $400.00 to $525.00 and gave the company a “buy” rating in a research note on Tuesday. Craig Hallum increased their target price on Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group initiated coverage on Axon Enterprise in a research note on Wednesday, July 17th. They set a “buy” rating and a $385.00 target price on the stock. Finally, JMP Securities increased their target price on Axon Enterprise from $375.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $382.85.

Axon Enterprise Trading Down 1.5 %

The stock has a fifty day moving average of $391.84 and a 200 day moving average of $333.90. The company has a market capitalization of $33.45 billion, a P/E ratio of 117.50, a PEG ratio of 11.74 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.

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

Insider Buying and Selling

In other Axon Enterprise news, Director Julie A. Cullivan sold 900 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $353.53, for a total transaction of $318,177.00. Following the sale, the director now directly owns 3,653 shares of the company’s stock, valued at $1,291,445.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Axon Enterprise news, Director Julie A. Cullivan sold 900 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $353.53, for a total transaction of $318,177.00. Following the sale, the director now directly owns 3,653 shares of the company’s stock, valued at $1,291,445.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total value of $437,980.00. Following the sale, the director now directly owns 26,259 shares in the company, valued at approximately $11,500,916.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 371,172 shares of company stock valued at $137,000,162. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mather Group LLC. increased its holdings in shares of Axon Enterprise by 3.7% in the third quarter. Mather Group LLC. now owns 759 shares of the biotechnology company’s stock worth $303,000 after purchasing an additional 27 shares during the last quarter. CWM LLC increased its holdings in shares of Axon Enterprise by 1.3% in the third quarter. CWM LLC now owns 2,856 shares of the biotechnology company’s stock worth $1,141,000 after purchasing an additional 36 shares during the last quarter. SPC Financial Inc. increased its holdings in shares of Axon Enterprise by 2.2% in the third quarter. SPC Financial Inc. now owns 1,773 shares of the biotechnology company’s stock worth $708,000 after purchasing an additional 38 shares during the last quarter. Dorsey Wright & Associates increased its holdings in shares of Axon Enterprise by 0.3% in the second quarter. Dorsey Wright & Associates now owns 14,053 shares of the biotechnology company’s stock worth $4,135,000 after purchasing an additional 39 shares during the last quarter. Finally, Legacy Capital Group California Inc. increased its holdings in shares of Axon Enterprise by 5.7% in the third quarter. Legacy Capital Group California Inc. now owns 724 shares of the biotechnology company’s stock worth $289,000 after purchasing an additional 39 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

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.