Needham & Company LLC Reaffirms “Buy” Rating for Axon Enterprise (NASDAQ:AXON)

Axon Enterprise (NASDAQ:AXON)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $600.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 20.81% from the stock’s current price.

AXON has been the subject of several other reports. Craig Hallum cut Axon Enterprise from a “buy” rating to a “hold” rating and set a $625.00 price objective for the company. in a research report on Thursday, February 20th. The Goldman Sachs Group upped their price target on Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a report on Monday, January 27th. JMP Securities reissued an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, February 4th. Morgan Stanley raised shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $500.00 to $700.00 in a research report on Tuesday, December 3rd. Finally, TD Cowen started coverage on shares of Axon Enterprise in a research note on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus target price of $561.31.

Axon Enterprise Trading Down 0.6 %

Shares of NASDAQ:AXON opened at $496.65 on Wednesday. The company has a market cap of $37.87 billion, a PE ratio of 128.33, a P/E/G ratio of 5.17 and a beta of 1.05. The company’s 50 day moving average is $614.17 and its two-hundred day moving average is $521.71. Axon Enterprise has a 52 week low of $265.32 and a 52 week high of $715.99. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total transaction of $271,831.50. Following the completion of the sale, the director now owns 6,929 shares in the company, valued at $4,185,601.03. This trade represents a 6.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julie A. Cullivan sold 1,261 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total value of $860,077.66. Following the transaction, the director now owns 2,392 shares in the company, valued at $1,631,487.52. This trade represents a 34.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,711 shares of company stock worth $5,631,561. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AXON. Asset Dedication LLC lifted its holdings in Axon Enterprise by 11.3% in the 4th quarter. Asset Dedication LLC now owns 178 shares of the biotechnology company’s stock valued at $106,000 after acquiring an additional 18 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Axon Enterprise by 1.3% during the fourth quarter. Bleakley Financial Group LLC now owns 1,527 shares of the biotechnology company’s stock valued at $908,000 after purchasing an additional 20 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Axon Enterprise by 2.7% in the 4th quarter. Venturi Wealth Management LLC now owns 802 shares of the biotechnology company’s stock valued at $477,000 after buying an additional 21 shares in the last quarter. Insigneo Advisory Services LLC increased its stake in shares of Axon Enterprise by 1.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 1,568 shares of the biotechnology company’s stock worth $627,000 after purchasing an additional 22 shares during the last quarter. Finally, Beacon Pointe Advisors LLC increased its position in Axon Enterprise by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 864 shares of the biotechnology company’s stock worth $513,000 after buying an additional 22 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

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.