Axon Enterprise (NASDAQ:AXON) Given New $750.00 Price Target at JPMorgan Chase & Co.

Axon Enterprise (NASDAQ:AXON) had its price objective cut by JPMorgan Chase & Co. from $925.00 to $750.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen upgraded Axon Enterprise from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Barclays lowered their price objective on Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Needham & Company LLC lowered their price objective on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Robert W. Baird set a $800.00 price objective on Axon Enterprise in a research note on Wednesday, February 25th. Finally, Citigroup reiterated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. Sixteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $749.63.

Axon Enterprise Trading Down 2.3%

Shares of Axon Enterprise stock opened at $393.08 on Thursday. Axon Enterprise has a 52-week low of $339.01 and a 52-week high of $885.91. The stock’s 50-day simple moving average is $460.29 and its 200 day simple moving average is $557.38. The stock has a market capitalization of $31.60 billion, a P/E ratio of 258.61, a P/E/G ratio of 8.58 and a beta of 1.61. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.55. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The business had revenue of $796.72 million for the quarter, compared to analysts’ expectations of $755.29 million. During the same period in the previous year, the business posted $2.08 EPS. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. As a group, research analysts anticipate that Axon Enterprise will post 5.8 EPS for the current year.

Insider Activity

In other news, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the sale, the chief executive officer directly owned 3,090,997 shares in the company, valued at $1,546,240,339.28. This represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Isaiah Fields sold 2,000 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $535.01, for a total value of $1,070,020.00. Following the sale, the insider owned 55,588 shares in the company, valued at approximately $29,740,135.88. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 13,855 shares of company stock valued at $7,109,828. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Axon Enterprise by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock worth $5,319,928,000 after purchasing an additional 53,060 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Axon Enterprise by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock worth $1,265,657,000 after purchasing an additional 35,544 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Axon Enterprise by 1,198.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after purchasing an additional 1,516,099 shares in the last quarter. Sands Capital Management LLC grew its holdings in shares of Axon Enterprise by 11.6% during the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock worth $914,047,000 after purchasing an additional 167,095 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Axon Enterprise by 326.9% during the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after purchasing an additional 1,179,038 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.