Axon Enterprise (NASDAQ:AXON) Reaches New 12-Month High – What’s Next?

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $633.14 and last traded at $631.63, with a volume of 89685 shares trading hands. The stock had previously closed at $609.82.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AXON. Barclays raised their price objective on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Robert W. Baird raised their price objective on Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Needham & Company LLC raised their price objective on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Northland Securities raised their price objective on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, JMP Securities raised their price objective on Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $427.83.

Axon Enterprise Stock Up 4.6 %

The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $453.48 and a 200 day simple moving average of $363.68. The stock has a market cap of $48.65 billion, a price-to-earnings ratio of 157.58, a PEG ratio of 18.26 and a beta of 0.94.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Julie A. Cullivan sold 900 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $353.53, for a total value of $318,177.00. Following the sale, the director now directly owns 3,653 shares in the company, valued at $1,291,445.09. The trade was a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brittany Bagley sold 4,338 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $378.95, for a total value of $1,643,885.10. Following the sale, the chief financial officer now owns 98,825 shares in the company, valued at approximately $37,449,733.75. The trade was a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 410,556 shares of company stock valued at $161,192,754 over the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Trading of Axon Enterprise

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew 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 buying an additional 79 shares in the last quarter. Quent Capital LLC grew 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 buying an additional 75 shares in the last quarter. Prestige Wealth Management Group LLC grew 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 buying an additional 44 shares in the last quarter. Brooklyn Investment Group purchased a new position in Axon Enterprise during the third quarter worth about $41,000. Finally, Asset Dedication LLC purchased a new position in Axon Enterprise during the second quarter worth about $47,000. 79.08% of the stock is currently owned by institutional investors.

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.