Axon Enterprise (NASDAQ:AXON) Hits 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 Friday . The stock traded as high as $645.39 and last traded at $643.34, with a volume of 30117 shares trading hands. The stock had previously closed at $634.96.

Analyst Ratings Changes

AXON has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Craig Hallum increased their price target 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. JMP Securities upped their price objective 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. Northland Securities boosted their price target on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Robert W. Baird lifted their price objective on Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $427.83.

Axon Enterprise Price Performance

The stock has a fifty day moving average of $483.18 and a two-hundred day moving average of $376.61. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $49.47 billion, a price-to-earnings ratio of 164.07, a PEG ratio of 13.97 and a beta of 0.94.

Insider Activity at Axon Enterprise

In related news, President Joshua Isner sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $606.15, for a total value of $12,123,000.00. Following the completion of the sale, the president now owns 208,166 shares in the company, valued at $126,179,820.90. This represents a 8.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick W. Smith sold 75,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $356.53, for a total value of $26,739,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,970,366 shares of the company’s stock, valued at approximately $1,059,024,589.98. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 210,256 shares of company stock worth $87,783,120. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Axon Enterprise

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC grew its holdings in shares of Axon Enterprise by 22.4% in the 1st quarter. Tidal Investments LLC now owns 4,833 shares of the biotechnology company’s stock valued at $1,512,000 after acquiring an additional 884 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Axon Enterprise by 280.6% during the 1st quarter. Cetera Investment Advisers now owns 21,067 shares of the biotechnology company’s stock worth $6,592,000 after purchasing an additional 15,532 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of Axon Enterprise by 49.7% in the first quarter. Cetera Advisors LLC now owns 7,623 shares of the biotechnology company’s stock valued at $2,385,000 after buying an additional 2,532 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Axon Enterprise by 45.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 16,986 shares of the biotechnology company’s stock worth $5,321,000 after buying an additional 5,301 shares during the last quarter. Finally, Capital Market Strategies LLC raised its position in Axon Enterprise by 82.0% during the second quarter. Capital Market Strategies LLC now owns 2,650 shares of the biotechnology company’s stock worth $780,000 after acquiring an additional 1,194 shares in the last quarter. 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.