Axon Enterprise (NASDAQ:AXON) Reaches New 12-Month High – What’s Next?

Shares of Axon Enterprise, Inc. (NASDAQ:AXON) reached a new 52-week high on Monday . The company traded as high as $439.38 and last traded at $439.38, with a volume of 54563 shares trading hands. The stock had previously closed at $434.98.

Analyst Ratings Changes

A number of brokerages have recently commented on AXON. Bank of America initiated coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They issued a “buy” rating and a $380.00 price objective for the company. Barclays boosted their target price on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Axon Enterprise in a research report on Wednesday, August 7th. Craig Hallum increased their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group started coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $385.00 target price for the company. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.38.

Axon Enterprise Price Performance

The business’s fifty day moving average price is $378.42 and its 200 day moving average price is $327.57. 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 market cap of $33.14 billion, a P/E ratio of 114.77, a PEG ratio of 11.49 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON) last released 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 firm had revenue of $504.00 million during the quarter, compared to the consensus estimate of $478.35 million. During the same quarter last year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was up 34.5% on a year-over-year basis. Sell-side analysts forecast that Axon Enterprise, Inc. will post 1.79 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In other news, CEO Patrick W. Smith sold 80,300 shares of Axon Enterprise stock in a transaction dated Friday, August 23rd. The stock was 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 directly owns 3,015,366 shares of the company’s stock, valued at approximately $1,121,052,771.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Jeri Williams sold 110 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $400.00, for a total value of $44,000.00. Following the completion of the sale, the director now owns 1,934 shares in the company, valued at $773,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick W. Smith sold 80,300 shares of the company’s stock in a transaction on 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 $1,121,052,771.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 370,172 shares of company stock worth $136,562,182 over the last three months. 6.10% of the stock is owned by company insiders.

Institutional Trading of Axon Enterprise

A number of large investors have recently bought and sold shares of the company. Blue Trust Inc. grew its stake in shares of Axon Enterprise by 987.5% during 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 purchased a new position in shares of Axon Enterprise in the first quarter worth about $31,000. Quent Capital LLC raised its position in shares of Axon Enterprise by 1,875.0% in the third quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 75 shares during the period. First PREMIER Bank purchased a new stake in shares of Axon Enterprise during the 1st quarter valued at approximately $33,000. Finally, Rise Advisors LLC boosted its holdings in Axon Enterprise by 49.0% in the 1st quarter. Rise Advisors LLC now owns 143 shares of the biotechnology company’s stock worth $45,000 after buying an additional 47 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

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.