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

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $715.99 and last traded at $706.73, with a volume of 262519 shares traded. The stock had previously closed at $683.41.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AXON. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. Needham & Company LLC lifted their price target on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Cowen initiated coverage on Axon Enterprise in a research report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 target price for the company. JMP Securities raised their target price on Axon Enterprise from $610.00 to $725.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group raised their target price on Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $542.15.

Axon Enterprise Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The company has a 50 day simple moving average of $625.48 and a 200-day simple moving average of $514.81. The stock has a market cap of $54.14 billion, a P/E ratio of 183.47, a price-to-earnings-growth ratio of 6.79 and a beta of 1.05.

Insiders Place Their Bets

In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business’s stock in a transaction dated 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 sale, the director now owns 6,929 shares of the company’s stock, valued at approximately $4,185,601.03. The trade was a 6.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey C. Kunins sold 2,304 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $654.79, for a total value of $1,508,636.16. Following the completion of the sale, the insider now directly owns 128,542 shares of the company’s stock, valued at approximately $84,168,016.18. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,711 shares of company stock valued at $5,631,561 over the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AXON. Capital World Investors increased its holdings in Axon Enterprise by 86.4% during the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company’s stock valued at $1,079,145,000 after purchasing an additional 841,772 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Axon Enterprise by 273.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock worth $659,128,000 after acquiring an additional 812,337 shares during the period. Norges Bank purchased a new position in shares of Axon Enterprise during the 4th quarter worth approximately $482,081,000. GQG Partners LLC purchased a new position in shares of Axon Enterprise during the 4th quarter worth approximately $478,349,000. Finally, Groupama Asset Managment purchased a new position in shares of Axon Enterprise during the 3rd quarter worth approximately $200,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

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.