Axon Enterprise (NASDAQ:AXON) Reaches New 1-Year High Following Analyst Upgrade

Axon Enterprise, Inc. (NASDAQ:AXON)’s stock price hit a new 52-week high during trading on Wednesday after TheStreet upgraded the stock from a c rating to a b rating. The stock traded as high as $231.71 and last traded at $228.37, with a volume of 223418 shares changing hands. The stock had previously closed at $216.37.

Several other equities analysts also recently commented on the stock. Barclays cut their price target on shares of Axon Enterprise from $256.00 to $239.00 and set an “overweight” rating on the stock in a report on Wednesday, August 9th. Morgan Stanley initiated coverage on shares of Axon Enterprise in a research report on Tuesday, August 22nd. They issued an “equal weight” rating and a $230.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $235.00 price objective on shares of Axon Enterprise in a research report on Friday, September 29th. Northland Securities boosted their price objective on shares of Axon Enterprise from $227.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Finally, Raymond James boosted their price objective on shares of Axon Enterprise from $223.00 to $233.00 and gave the company an “outperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $245.64.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 29,699 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $196.37, for a total transaction of $5,831,992.63. Following the completion of the sale, the president now owns 356,489 shares of the company’s stock, valued at $70,003,744.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Julie A. Cullivan sold 515 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $214.47, for a total transaction of $110,452.05. Following the completion of the sale, the director now owns 5,367 shares of the company’s stock, valued at $1,151,060.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Joshua Isner sold 29,699 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $196.37, for a total transaction of $5,831,992.63. Following the sale, the president now directly owns 356,489 shares of the company’s stock, valued at approximately $70,003,744.93. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Versor Investments LP acquired a new position in Axon Enterprise during the 1st quarter valued at approximately $702,000. Handelsbanken Fonder AB increased its stake in Axon Enterprise by 16.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 13,002 shares of the biotechnology company’s stock valued at $2,537,000 after purchasing an additional 1,800 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Axon Enterprise by 24.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 2,344 shares of the biotechnology company’s stock valued at $527,000 after purchasing an additional 455 shares in the last quarter. Journey Strategic Wealth LLC acquired a new stake in shares of Axon Enterprise in the first quarter worth $246,000. Finally, Merit Financial Group LLC raised its holdings in shares of Axon Enterprise by 10.4% during the second quarter. Merit Financial Group LLC now owns 1,385 shares of the biotechnology company’s stock worth $270,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 76.52% of the company’s stock.

Axon Enterprise Trading Up 6.1 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 3.38 and a quick ratio of 2.98. The company’s fifty day moving average is $208.25 and its 200-day moving average is $199.88. The stock has a market cap of $17.16 billion, a PE ratio of 171.33 and a beta of 0.85.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Tuesday, August 8th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.47. Axon Enterprise had a net margin of 7.24% and a return on equity of 10.88%. The firm had revenue of $374.61 million during the quarter, compared to analysts’ expectations of $347.53 million. On average, analysts predict that Axon Enterprise, Inc. will post 1.96 earnings per share for the current fiscal year.

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.