Axon Enterprise (NASDAQ:AXON) Shares Gap Up Following Analyst Upgrade

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price gapped up before the market opened on Friday after Needham & Company LLC raised their price target on the stock from $525.00 to $600.00. The stock had previously closed at $468.75, but opened at $540.00. Needham & Company LLC currently has a buy rating on the stock. Axon Enterprise shares last traded at $525.69, with a volume of 225,117 shares traded.

Several other research firms have also recently commented on AXON. Robert W. Baird lifted their price target on Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a report on Monday, November 4th. JMP Securities lifted 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. Jefferies Financial Group began coverage on Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $385.00 price target for the company. Barclays lifted their price target on Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Craig Hallum boosted their target price on Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. 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 stock presently has an average rating of “Moderate Buy” and an average price target of $412.42.

Insider Buying and Selling

In related news, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total transaction of $437,980.00. Following the transaction, the director now directly owns 26,259 shares of the company’s stock, valued at approximately $11,500,916.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total transaction of $437,980.00. Following the transaction, the director now directly owns 26,259 shares of the company’s stock, valued at approximately $11,500,916.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Julie A. Cullivan sold 900 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 3,653 shares in the company, valued at approximately $1,291,445.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 369,172 shares of company stock valued at $136,270,842. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised its position in shares of Axon Enterprise by 987.5% in the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 79 shares in the last quarter. Quent Capital LLC raised its position in shares of Axon Enterprise by 1,875.0% in the 3rd quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 75 shares in the last quarter. Asset Dedication LLC bought a new stake in shares of Axon Enterprise in the 2nd quarter valued at approximately $47,000. Planning Capital Management Corp increased its holdings in shares of Axon Enterprise by 83.3% in the 3rd quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 55 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Axon Enterprise in the 3rd quarter valued at approximately $51,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Stock Up 28.7 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 2.88. The firm has a market capitalization of $45.58 billion, a P/E ratio of 155.86, a P/E/G ratio of 11.70 and a beta of 0.94. The stock has a fifty day moving average price of $414.16 and a two-hundred day moving average price of $347.27.

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.