TD Cowen Begins Coverage on Axon Enterprise (NASDAQ:AXON)

Stock analysts at TD Cowen began coverage on shares of Axon Enterprise (NASDAQ:AXON) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $700.00 price target on the biotechnology company’s stock. TD Cowen’s price objective suggests a potential upside of 24.55% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on AXON. Northland Securities raised their target price on shares of Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. JMP Securities raised 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 upped their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC raised their price target on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and an average target price of $504.92.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $562.03 on Wednesday. The stock’s 50-day simple moving average is $598.56 and its two-hundred day simple moving average is $445.07. Axon Enterprise has a twelve month low of $244.01 and a twelve month high of $698.67. The firm has a market capitalization of $42.86 billion, a P/E ratio of 145.23, a P/E/G ratio of 14.19 and a beta of 1.04. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total value of $271,831.50. Following the transaction, the director now owns 6,929 shares in the company, valued at approximately $4,185,601.03. The trade was a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total transaction of $437,980.00. Following the sale, the director now owns 26,259 shares of the company’s stock, valued at approximately $11,500,916.82. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,545 shares of company stock worth $31,159,317 in the last ninety days. 6.10% of the stock is owned by insiders.

Institutional Trading of Axon Enterprise

Several large investors have recently added to or reduced their stakes in AXON. Public Sector Pension Investment Board boosted its stake in shares of Axon Enterprise by 19.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company’s stock valued at $1,240,000 after purchasing an additional 500 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Axon Enterprise by 9.2% in the third quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock worth $4,227,000 after buying an additional 895 shares during the period. Foundations Investment Advisors LLC bought a new stake in Axon Enterprise during the 3rd quarter valued at approximately $221,000. Sequoia Financial Advisors LLC grew its holdings in shares of Axon Enterprise by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock worth $690,000 after acquiring an additional 81 shares during the period. Finally, Axxcess Wealth Management LLC bought a new position in shares of Axon Enterprise in the 3rd quarter worth approximately $814,000. 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.