Axon Enterprise (NASDAQ:AXON) Hits New 1-Year High at $378.25

Axon Enterprise, Inc. (NASDAQ:AXON) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $378.25 and last traded at $377.25, with a volume of 124649 shares traded. The stock had previously closed at $370.57.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AXON. Craig Hallum lifted their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley upped their price objective on Axon Enterprise from $285.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Bank of America assumed coverage on Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $380.00 target price for the company. Northland Securities upped their price target on Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Axon Enterprise in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.08.

Axon Enterprise Price Performance

The company’s 50-day simple moving average is $306.26 and its 200-day simple moving average is $298.99. 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 company has a market capitalization of $28.24 billion, a PE ratio of 108.35, a P/E/G ratio of 7.42 and a beta of 0.95.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results 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 return on equity of 9.34% and a net margin of 16.06%. During the same quarter in the previous year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was up 34.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Axon Enterprise, Inc. will post 2.36 earnings per share for the current year.

Insider Transactions at Axon Enterprise

In related news, Director Matthew R. Mcbrady sold 2,000 shares of Axon Enterprise stock in a transaction on Friday, August 9th. The shares were 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 in the company, valued at approximately $1,783,916.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Matthew R. Mcbrady sold 2,000 shares of the firm’s stock in a transaction on 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 owns 4,892 shares in the company, valued at approximately $1,783,916.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julie A. Cullivan sold 478 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $286.04, for a total transaction of $136,727.12. Following the transaction, the director now owns 5,546 shares in the company, valued at $1,586,377.84. The disclosure for this sale can be found here. Insiders sold 3,471 shares of company stock worth $1,145,795 over the last 90 days. 6.10% of the stock is currently owned by insiders.

Institutional Trading of Axon Enterprise

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Axon Enterprise in the fourth quarter valued at $195,406,000. Motley Fool Asset Management LLC increased its holdings in shares of 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 valued at $153,981,000 after purchasing an additional 346,838 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Axon Enterprise in the first quarter valued at about $81,630,000. Vanguard Group Inc. boosted its holdings in 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 buying an additional 212,401 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Axon Enterprise during the fourth quarter worth about $39,907,000. 79.08% of the stock is currently owned by hedge funds and other 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.