Axon Enterprise (NASDAQ:AXON) Reaches New 52-Week High – Still a Buy?

Axon Enterprise, Inc. (NASDAQ:AXON) hit a new 52-week high on Wednesday . The stock traded as high as $462.29 and last traded at $458.77, with a volume of 20670 shares. The stock had previously closed at $441.09.

Analyst Ratings Changes

A number of research firms have issued reports on AXON. Robert W. Baird lifted their price objective on Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a research note on Monday. The Goldman Sachs Group lifted their price target on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northland Securities boosted their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Barclays raised their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group began coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $385.00 price objective for the company. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $392.85.

Axon Enterprise Stock Up 2.0 %

The stock has a market cap of $35.42 billion, a PE ratio of 123.68, a P/E/G ratio of 11.70 and a beta of 0.94. The business has a 50 day moving average of $409.39 and a 200-day moving average of $344.81. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The business had revenue of $504.00 million during the quarter, compared to analysts’ expectations of $478.35 million. During the same period in the prior year, the company earned $0.80 earnings per share. The business’s revenue was up 34.5% compared to the same quarter last year. Equities research analysts predict 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 shares were sold at an average price of $371.78, for a total value of $29,853,934.00. Following the sale, the chief executive officer now owns 3,015,366 shares of the company’s stock, valued at $1,121,052,771.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $373.03, for a total transaction of $167,863.50. Following the transaction, the director now directly owns 7,379 shares of the company’s stock, valued at $2,752,588.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 80,300 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the completion of the sale, 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 369,172 shares of company stock worth $136,270,842 over the last 90 days. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors and hedge funds have recently modified their holdings of the company. Motley Fool Asset Management LLC grew its holdings in Axon Enterprise by 238.7% in the first quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock valued at $153,981,000 after purchasing an additional 346,838 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Axon Enterprise in the 1st quarter worth about $81,630,000. International Assets Investment Management LLC acquired a new stake in Axon Enterprise in the 3rd quarter valued at about $871,860,000. Vanguard Group Inc. increased its holdings in Axon Enterprise by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock valued at $2,547,878,000 after acquiring an additional 212,401 shares in the last quarter. Finally, Swedbank AB acquired a new position in Axon Enterprise during the first quarter worth about $39,923,000. Institutional investors and hedge funds 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.