Axon Enterprise, Inc. (NASDAQ:AXON) Given Average Recommendation of “Buy” by Brokerages

Shares of Axon Enterprise, Inc. (NASDAQ:AXON) have earned a consensus rating of “Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Fourteen investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $524.85.

A number of equities research analysts recently weighed in on the company. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $500.00 to $700.00 in a research report on Tuesday, December 3rd. The Goldman Sachs Group upped their price target on Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a research report on Monday. Northland Securities upped their target price on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Needham & Company LLC upped their target price 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, TD Cowen began coverage on Axon Enterprise in a research note on Wednesday, January 8th. They set a “buy” rating and a $700.00 price target on the stock.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 1,035 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $624.47, for a total transaction of $646,326.45. Following the completion of the transaction, the insider now directly owns 124,243 shares of the company’s stock, valued at approximately $77,586,026.21. This represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total value of $271,831.50. Following the completion of the transaction, the director now directly owns 6,929 shares of the company’s stock, valued at $4,185,601.03. The trade was a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,545 shares of company stock valued at $30,721,337. 6.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Axon Enterprise

A number of large investors have recently made changes to their positions in AXON. Public Sector Pension Investment Board raised its position in shares of Axon Enterprise by 19.2% in the third quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company’s stock worth $1,240,000 after buying an additional 500 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Axon Enterprise by 9.2% in the 3rd quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company’s stock valued at $4,227,000 after acquiring an additional 895 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of Axon Enterprise in the 3rd quarter valued at about $221,000. Sequoia Financial Advisors LLC increased its holdings in Axon Enterprise by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 81 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new position in Axon Enterprise during the 3rd quarter valued at about $814,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $639.97 on Friday. The stock has a market capitalization of $48.80 billion, a P/E ratio of 165.37, a price-to-earnings-growth ratio of 6.09 and a beta of 1.04. Axon Enterprise has a 52 week low of $247.04 and a 52 week high of $698.67. 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 stock has a fifty day moving average of $618.90 and a 200-day moving average of $477.78.

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.