Axon Enterprise (NASDAQ:AXON) Reaches New 1-Year High – Time to Buy?

Axon Enterprise, Inc. (NASDAQ:AXON) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $694.00 and last traded at $694.00, with a volume of 4028 shares trading hands. The stock had previously closed at $687.39.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday. Needham & Company LLC lifted their price objective on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JMP Securities lifted their price objective on Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $500.00 to $700.00 in a research note on Tuesday. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $488.67.

Axon Enterprise Stock Performance

The company has a market capitalization of $52.44 billion, a PE ratio of 177.70, a PEG ratio of 14.74 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The company has a 50 day moving average price of $516.24 and a 200 day moving average price of $392.27.

Insider Activity

In related news, insider Jeffrey C. Kunins sold 8,182 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $364.86, for a total transaction of $2,985,284.52. Following the sale, the insider now directly owns 176,228 shares of the company’s stock, valued at approximately $64,298,548.08. This represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Julie A. Cullivan sold 1,261 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $682.06, for a total value of $860,077.66. Following the sale, the director now directly owns 2,392 shares in the company, valued at approximately $1,631,487.52. This represents a 34.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 137,921 shares of company stock worth $63,093,907. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently made changes to their positions in AXON. CWM LLC raised its position in shares of Axon Enterprise by 1.5% during the 2nd quarter. CWM LLC now owns 2,820 shares of the biotechnology company’s stock valued at $830,000 after acquiring an additional 43 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Axon Enterprise by 9.1% during the 2nd quarter. QRG Capital Management Inc. now owns 2,539 shares of the biotechnology company’s stock valued at $747,000 after acquiring an additional 212 shares in the last quarter. Czech National Bank increased its position in Axon Enterprise by 8.8% in the second quarter. Czech National Bank now owns 13,518 shares of the biotechnology company’s stock worth $3,978,000 after buying an additional 1,097 shares during the period. Artemis Investment Management LLP increased its position in Axon Enterprise by 3.7% in the second quarter. Artemis Investment Management LLP now owns 96,867 shares of the biotechnology company’s stock worth $28,502,000 after buying an additional 3,453 shares during the period. Finally, Diversified Trust Co increased its position in Axon Enterprise by 85.5% in the second quarter. Diversified Trust Co now owns 3,969 shares of the biotechnology company’s stock worth $1,168,000 after buying an additional 1,829 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

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.