Axon Enterprise (NASDAQ:AXON) Reaches New 1-Year High – Time to Buy?

Axon Enterprise, Inc. (NASDAQ:AXON)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $633.14 and last traded at $631.63, with a volume of 89685 shares changing hands. The stock had previously closed at $609.82.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Craig Hallum boosted their price target on Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JMP Securities boosted their price target on Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their price target on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a report on Friday, November 8th. Northland Securities boosted their price target on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group boosted their price target on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and twelve have issued 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 price target of $427.83.

Axon Enterprise Price Performance

The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $48.57 billion, a PE ratio of 164.59, a PEG ratio of 18.26 and a beta of 0.94. The company has a 50-day moving average of $458.43 and a 200 day moving average of $365.54.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 70,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $362.21, for a total value of $25,354,700.00. Following the completion of the sale, the chief executive officer now directly owns 2,945,366 shares in the company, valued at $1,066,841,018.86. This represents a 2.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julie A. Cullivan sold 900 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $353.53, for a total value of $318,177.00. Following the completion of the sale, the director now owns 3,653 shares of the company’s stock, valued at approximately $1,291,445.09. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 330,256 shares of company stock worth $131,338,820 in the last three months. 6.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axon Enterprise

Hedge funds have recently bought and sold shares of the company. Groupama Asset Managment purchased a new stake in Axon Enterprise during the 3rd quarter worth about $200,000. Massachusetts Financial Services Co. MA purchased a new stake in Axon Enterprise during the 3rd quarter worth about $120,553,000. International Assets Investment Management LLC purchased a new stake in Axon Enterprise during the 3rd quarter worth about $871,860,000. Westfield Capital Management Co. LP increased its holdings in shares of Axon Enterprise by 12.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock valued at $469,661,000 after acquiring an additional 127,769 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Axon Enterprise in the 1st quarter valued at about $39,923,000. 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.