Axon Enterprise (NASDAQ:AXON) Hits New 12-Month High – Here’s What Happened

Shares of Axon Enterprise, Inc. (NASDAQ:AXON) hit a new 52-week high during mid-day trading on Wednesday . The company 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AXON. Jefferies Financial Group assumed coverage on Axon Enterprise in a research report on Wednesday, July 17th. They issued a “buy” rating and a $385.00 price objective for the company. Needham & Company LLC boosted their price target on shares of Axon Enterprise from $400.00 to $525.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird upped their price objective on shares of Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research report on Monday. Bank of America began coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They issued a “buy” rating and a $380.00 target price on the stock. Finally, Northland Securities upped their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $392.85.

Axon Enterprise Price Performance

The company has a market cap of $35.42 billion, a price-to-earnings ratio of 123.68, a price-to-earnings-growth ratio of 11.70 and a beta of 0.94. The stock has a 50 day simple moving average of $409.39 and a two-hundred day simple moving average of $344.81. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.18. The company had revenue of $504.00 million for the quarter, compared to analyst estimates of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. Axon Enterprise’s revenue was up 34.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS. On average, equities research analysts predict that Axon Enterprise, Inc. will post 1.79 earnings per share for the current fiscal year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 25,811 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total value of $437,980.00. Following the transaction, the director now directly owns 26,259 shares in the company, valued at approximately $11,500,916.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Joshua Isner sold 25,811 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $359.84, for a total value of $9,287,830.24. Following the completion of the sale, the president now directly owns 228,166 shares in the company, valued at approximately $82,103,253.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 369,172 shares of company stock worth $136,270,842. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors have recently modified their holdings of the company. Fifth Third Wealth Advisors LLC grew its position in Axon Enterprise by 35.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,082 shares of the biotechnology company’s stock valued at $432,000 after acquiring an additional 283 shares in the last quarter. Prudent Man Advisors LLC purchased a new position in shares of Axon Enterprise in the third quarter valued at approximately $703,000. Chesapeake Capital Corp IL grew its holdings in shares of Axon Enterprise by 29.6% in the third quarter. Chesapeake Capital Corp IL now owns 1,736 shares of the biotechnology company’s stock valued at $686,000 after purchasing an additional 397 shares in the last quarter. WESPAC Advisors SoCal LLC grew its holdings in shares of Axon Enterprise by 22.2% in the third quarter. WESPAC Advisors SoCal LLC now owns 2,845 shares of the biotechnology company’s stock valued at $1,137,000 after purchasing an additional 516 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in Axon Enterprise by 5.4% during the 3rd quarter. Natixis Advisors LLC now owns 30,392 shares of the biotechnology company’s stock worth $12,145,000 after buying an additional 1,552 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

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.