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

Shares of Axon Enterprise, Inc. (NASDAQ:AXON) reached a new 52-week high on Wednesday . The company traded as high as $462.29 and last traded at $458.77, with a volume of 20670 shares. The stock had previously closed at $441.09.

Analysts Set New Price Targets

Several analysts recently issued reports on AXON shares. JMP Securities lifted their price target on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Robert W. Baird increased their target price on shares of Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a report on Monday. The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC lifted their target price on Axon Enterprise from $400.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Bank of America assumed coverage on Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $380.00 price objective on the stock. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $392.85.

Axon Enterprise Stock Up 3.1 %

The firm has a market cap of $34.36 billion, a PE ratio of 116.38, a PEG ratio of 10.99 and a beta of 0.94. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average price is $405.32 and its two-hundred day moving average price is $343.13.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.18. The firm had revenue of $504.00 million for the quarter, compared to analysts’ expectations of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The company’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. On average, equities research analysts expect that Axon Enterprise, Inc. will post 1.79 EPS for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other news, President Joshua Isner sold 25,811 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $359.84, for a total value of $9,287,830.24. Following the completion of the sale, the president now directly owns 228,166 shares of the company’s stock, valued at $82,103,253.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Axon Enterprise news, President Joshua Isner sold 25,811 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $359.84, for a total value of $9,287,830.24. Following the sale, the president now owns 228,166 shares in the company, valued at $82,103,253.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julie A. Cullivan sold 900 shares of the company’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 completion of the transaction, the director now owns 3,653 shares in the company, valued at $1,291,445.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 371,172 shares of company stock worth $137,000,162 over the last 90 days. 5.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Axon Enterprise by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock valued at $2,547,878,000 after purchasing an additional 212,401 shares during the period. Motley Fool Asset Management LLC increased its stake in Axon Enterprise by 238.7% during the 1st quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock worth $153,981,000 after buying an additional 346,838 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Axon Enterprise by 44.0% during the second quarter. 1832 Asset Management L.P. now owns 375,700 shares of the biotechnology company’s stock worth $110,546,000 after purchasing an additional 114,800 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Axon Enterprise by 13.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 368,732 shares of the biotechnology company’s stock valued at $108,496,000 after buying an additional 45,049 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Axon Enterprise by 1.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 270,430 shares of the biotechnology company’s stock valued at $79,571,000 after acquiring an additional 4,365 shares during the last quarter. Hedge funds and other institutional investors 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.