Axon Enterprise (NASDAQ:AXON) Shares Gap Up – Still a Buy?

Axon Enterprise, Inc. (NASDAQ:AXON) shares gapped up prior to trading on Tuesday . The stock had previously closed at $636.39, but opened at $652.82. Axon Enterprise shares last traded at $648.53, with a volume of 91,247 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. 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. The Goldman Sachs Group increased their target price on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $500.00 to $700.00 in a report on Tuesday. Barclays increased 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. Finally, Robert W. Baird increased their target price on Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $460.33.

Axon Enterprise Price Performance

The company has a market cap of $52.41 billion, a P/E ratio of 177.62, a PEG ratio of 14.74 and a beta of 1.01. The company has a fifty day moving average price of $498.62 and a two-hundred day moving average price of $385.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96.

Insider Activity at Axon Enterprise

In related news, insider Jeffrey C. Kunins sold 8,182 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $364.86, for a total value of $2,985,284.52. Following the completion of the sale, the insider now directly owns 176,228 shares in the company, valued at approximately $64,298,548.08. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Joshua Isner sold 25,811 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $359.84, for a total transaction of $9,287,830.24. Following the completion of the sale, the president now owns 228,166 shares of the company’s stock, valued at $82,103,253.44. This trade represents a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,660 shares of company stock worth $62,233,829. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds have recently bought and sold shares of the stock. Quent Capital LLC lifted its position in Axon Enterprise by 1,875.0% during the third quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 75 shares during the last quarter. Prestige Wealth Management Group LLC lifted its position in Axon Enterprise by 115.8% during the third quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 44 shares during the last quarter. Blue Trust Inc. lifted its position in Axon Enterprise by 987.5% during the second 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 last quarter. Brooklyn Investment Group acquired a new stake in Axon Enterprise during the third quarter worth approximately $41,000. Finally, Planning Capital Management Corp lifted its position in Axon Enterprise by 83.3% during the third quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 55 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.