Axon Enterprise (NASDAQ:AXON) Hits New 52-Week High – Here’s What Happened

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $430.62 and last traded at $430.62, with a volume of 34901 shares changing hands. The stock had previously closed at $420.83.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Northland Securities upped 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. Barclays upped their price target on Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Bank of America assumed coverage on Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $380.00 price target on the stock. Jefferies Financial Group assumed coverage on Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $385.00 price target on the stock. Finally, JMP Securities upped their price target on Axon Enterprise from $375.00 to $430.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.38.

Axon Enterprise Price Performance

The company has a market capitalization of $32.28 billion, a price-to-earnings ratio of 123.05, a price-to-earnings-growth ratio of 10.84 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52. The business has a fifty day moving average price of $367.90 and a 200 day moving average price of $324.35.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. The company 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 quarterly revenue was up 34.5% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. On average, research analysts expect that Axon Enterprise, Inc. will post 1.79 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Matthew R. Mcbrady sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $364.66, for a total transaction of $729,320.00. Following the completion of the transaction, the director now owns 4,892 shares of the company’s stock, valued at $1,783,916.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Matthew R. Mcbrady sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $364.66, for a total transaction of $729,320.00. Following the completion of the transaction, the director now owns 4,892 shares of the company’s stock, valued at $1,783,916.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick W. Smith sold 4,767 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $404.14, for a total value of $1,926,535.38. Following the transaction, the chief executive officer now directly owns 2,925,060 shares of the company’s stock, valued at $1,182,133,748.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 370,172 shares of company stock valued at $136,562,182. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. boosted its position in shares of Axon Enterprise by 3.7% in the 3rd quarter. Mather Group LLC. now owns 759 shares of the biotechnology company’s stock valued at $303,000 after purchasing an additional 27 shares during the period. Dorsey Wright & Associates boosted its position in shares of Axon Enterprise by 0.3% in the 2nd quarter. Dorsey Wright & Associates now owns 14,053 shares of the biotechnology company’s stock valued at $4,135,000 after purchasing an additional 39 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Axon Enterprise by 0.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock valued at $1,659,000 after purchasing an additional 40 shares during the period. Brookstone Capital Management boosted its position in shares of Axon Enterprise by 5.1% in the 1st quarter. Brookstone Capital Management now owns 839 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 41 shares during the period. Finally, CWM LLC boosted its position in shares of Axon Enterprise by 1.5% in the 2nd quarter. CWM LLC now owns 2,820 shares of the biotechnology company’s stock valued at $830,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

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.