Axon Enterprise, Inc. (NASDAQ:AXON) Receives Consensus Recommendation of “Buy” from Brokerages

Axon Enterprise, Inc. (NASDAQ:AXON) has been given a consensus recommendation of “Buy” by the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $488.67.

Several analysts recently issued reports on AXON shares. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. Robert W. Baird raised their target price on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JMP Securities upped their price target on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC lifted their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Northland Securities boosted 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.

Insiders Place Their Bets

In related news, Director Julie A. Cullivan sold 1,261 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $682.06, for a total transaction of $860,077.66. Following the completion of the sale, the director now directly owns 2,392 shares of the company’s stock, valued at $1,631,487.52. This represents a 34.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $606.15, for a total transaction of $12,123,000.00. Following the completion of the transaction, the president now owns 208,166 shares in the company, valued at approximately $126,179,820.90. This trade represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,590 shares of company stock worth $49,176,907 over the last ninety days. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Several hedge funds have recently modified their holdings of the stock. Insigneo Advisory Services LLC raised its holdings in Axon Enterprise by 1.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 1,568 shares of the biotechnology company’s stock worth $627,000 after buying an additional 22 shares during the period. Menard Financial Group LLC raised its holdings in shares of Axon Enterprise by 0.8% during the third quarter. Menard Financial Group LLC now owns 3,014 shares of the biotechnology company’s stock valued at $1,204,000 after acquiring an additional 24 shares during the period. PFG Investments LLC lifted its position in shares of Axon Enterprise by 0.6% in the 3rd quarter. PFG Investments LLC now owns 3,872 shares of the biotechnology company’s stock valued at $1,547,000 after acquiring an additional 25 shares in the last quarter. Gladstone Institutional Advisory LLC boosted its stake in Axon Enterprise by 1.6% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,641 shares of the biotechnology company’s stock worth $656,000 after purchasing an additional 26 shares during the period. Finally, Mather Group LLC. grew its position in Axon Enterprise by 3.7% during the 3rd quarter. Mather Group LLC. now owns 759 shares of the biotechnology company’s stock worth $303,000 after purchasing an additional 27 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $636.41 on Friday. 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 firm’s 50-day moving average price is $535.05 and its two-hundred day moving average price is $402.14. Axon Enterprise has a 52-week low of $240.49 and a 52-week high of $698.67. The stock has a market capitalization of $48.53 billion, a P/E ratio of 164.45, a P/E/G ratio of 15.13 and a beta of 1.01.

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.