Axon Enterprise (NASDAQ:AXON) Coverage Initiated by Analysts at TD Cowen

TD Cowen initiated coverage on shares of Axon Enterprise (NASDAQ:AXON - Free Report) in a report released on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $700.00 target price on the biotechnology company's stock.

Several other research firms also recently commented on AXON. JMP Securities upped their price target on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a "market outperform" rating in a research note on Thursday, October 31st. Robert W. Baird upped their target price on Axon Enterprise from $600.00 to $800.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Morgan Stanley upgraded 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 research report on Tuesday, December 3rd. Northland Securities upped their price objective on shares of Axon Enterprise from $365.00 to $550.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group raised their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus target price of $504.92.

Axon Enterprise Stock Performance

Axon Enterprise stock traded up $15.31 during trading hours on Wednesday, hitting $577.34. The company had a trading volume of 590,300 shares, compared to its average volume of 818,375. Axon Enterprise has a one year low of $246.99 and a one year high of $698.67. The firm has a market cap of $44.03 billion, a PE ratio of 149.18, a PEG ratio of 14.19 and a beta of 1.04. The firm has a 50-day moving average of $601.33 and a 200 day moving average of $445.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63.

Insider Activity

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total value of $271,831.50. Following the sale, the director now 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey C. Kunins sold 1,035 shares of the firm's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $624.47, for a total value of $646,326.45. Following 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 51,545 shares of company stock valued at $31,159,317. 6.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Public Sector Pension Investment Board grew its stake in Axon Enterprise by 19.2% during the third quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company's stock worth $1,240,000 after purchasing an additional 500 shares during the period. CIBC Asset Management Inc grew its position in shares of Axon Enterprise by 9.2% during the 3rd quarter. CIBC Asset Management Inc now owns 10,578 shares of the biotechnology company's stock worth $4,227,000 after buying an additional 895 shares during the period. Foundations Investment Advisors LLC bought a new stake in shares of Axon Enterprise in the 3rd quarter valued at $221,000. Sequoia Financial Advisors LLC lifted its position in shares of 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 acquiring an additional 81 shares during the period. Finally, Axxcess Wealth Management LLC bought a new position in Axon Enterprise during the third quarter worth $814,000. Institutional investors and hedge funds 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.