Axon Enterprise (NASDAQ:AXON) Reaches New 12-Month High at $403.38

Axon Enterprise, Inc. (NASDAQ:AXON) reached a new 52-week high during trading on Wednesday . The company traded as high as $403.38 and last traded at $402.29, with a volume of 89580 shares trading hands. The stock had previously closed at $399.22.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Robert W. Baird increased their target price on shares of Axon Enterprise from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Bank of America initiated coverage on Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $380.00 target price on the stock. Northland Securities upped their price target on Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Axon Enterprise in a research report on Wednesday, August 7th. Finally, Barclays upped their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.38.

Axon Enterprise Stock Performance

The company has a market capitalization of $30.42 billion, a PE ratio of 116.73, a P/E/G ratio of 10.59 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 stock has a 50-day simple moving average of $359.52 and a 200 day simple moving average of $321.46.

Axon Enterprise (NASDAQ:AXON) last announced 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. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The company had revenue of $504.00 million for the quarter, compared to the consensus estimate of $478.35 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was up 34.5% compared to the same quarter last year. Equities analysts anticipate that Axon Enterprise, Inc. will post 1.79 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 80,300 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $371.78, for a total value of $29,853,934.00. Following the completion of the transaction, the chief executive officer now owns 3,015,366 shares of the company’s stock, valued at approximately $1,121,052,771.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jeri Williams sold 110 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $400.00, for a total value of $44,000.00. Following the sale, the director now directly owns 1,934 shares of the company’s stock, valued at $773,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 80,300 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the transaction, the chief executive officer now directly owns 3,015,366 shares of the company’s stock, valued at approximately $1,121,052,771.48. The disclosure for this sale can be found here. Insiders have sold a total of 318,091 shares of company stock valued at $115,706,734 over the last quarter. Insiders own 6.10% of the company’s stock.

Institutional Trading of Axon Enterprise

Institutional investors and hedge funds have recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new position in Axon Enterprise in the fourth quarter valued at about $26,000. Blue Trust Inc. boosted its holdings in Axon Enterprise by 987.5% in the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 79 shares during the period. Trivant Custom Portfolio Group LLC acquired a new stake in Axon Enterprise in the first quarter valued at approximately $31,000. First PREMIER Bank purchased a new stake in shares of Axon Enterprise during the first quarter valued at approximately $33,000. Finally, Rise Advisors LLC raised its stake in shares of Axon Enterprise by 49.0% during the first quarter. Rise Advisors LLC now owns 143 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 47 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.