Axon Enterprise (NASDAQ:AXON) Sets New 1-Year High - Here's What Happened

Axon Enterprise, Inc. (NASDAQ:AXON - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $439.38 and last traded at $439.38, with a volume of 54563 shares changing hands. The stock had previously closed at $434.98.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Bank of America initiated coverage on Axon Enterprise in a report on Wednesday, July 17th. They issued a "buy" rating and a $380.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $400.00 target price on shares of Axon Enterprise in a research note on Wednesday, August 7th. Jefferies Financial Group assumed coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a "buy" rating and a $385.00 target price for the company. Northland Securities boosted their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th. Finally, Robert W. Baird boosted their target price on Axon Enterprise from $360.00 to $400.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus target price of $365.38.

Axon Enterprise Trading Up 0.7 %

The business's 50 day simple moving average is $378.42 and its 200-day simple moving average is $327.57. The stock has a market capitalization of $33.10 billion, a P/E ratio of 115.70, a PEG ratio of 11.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.18. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The business had revenue of $504.00 million during the quarter, compared to analysts' expectations of $478.35 million. During the same period in the previous year, the firm earned $0.80 earnings per share. The firm's quarterly revenue was up 34.5% compared to the same quarter last year. As a group, analysts forecast that Axon Enterprise, Inc. will post 1.79 EPS for the current year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CFO Brittany Bagley sold 4,338 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $378.95, for a total value of $1,643,885.10. Following the sale, the chief financial officer now directly owns 98,825 shares in the company, valued at approximately $37,449,733.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Axon Enterprise news, CFO Brittany Bagley sold 4,338 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $378.95, for a total value of $1,643,885.10. Following the completion of the sale, the chief financial officer now directly owns 98,825 shares in the company, valued at $37,449,733.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick W. Smith sold 80,300 shares of Axon Enterprise stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $371.78, for a total value of $29,853,934.00. Following the transaction, the chief executive officer now owns 3,015,366 shares in the company, valued at $1,121,052,771.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,172 shares of company stock worth $136,562,182 in the last ninety days. Company insiders own 6.10% of the company's stock.

Institutional Trading of Axon Enterprise

Several hedge funds and other institutional investors have recently modified their holdings of AXON. Empirical Asset Management LLC bought a new position in shares of Axon Enterprise during the third quarter worth about $256,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Axon Enterprise by 21.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,781 shares of the biotechnology company's stock worth $712,000 after acquiring an additional 319 shares during the last quarter. Perfromance Wealth Partners LLC bought a new position in shares of Axon Enterprise during the 3rd quarter worth approximately $266,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Axon Enterprise by 322.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 393 shares of the biotechnology company's stock valued at $157,000 after purchasing an additional 300 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in shares of Axon Enterprise in the third quarter worth $327,000. 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.