Axon Enterprise (NASDAQ:AXON) Sees Unusually-High Trading Volume

Axon Enterprise, Inc. (NASDAQ:AXON - Get Free Report) saw strong trading volume on Thursday . 239,336 shares traded hands during trading, a decline of 54% from the previous session's volume of 516,155 shares.The stock last traded at $376.46 and had previously closed at $361.71.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price objective on shares of Axon Enterprise in a research note on Wednesday, August 7th. Craig Hallum upped their target price on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They issued a "buy" rating and a $385.00 target price for the company. Barclays upped their target price on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Finally, Northland Securities upped their target price on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $365.38.

Axon Enterprise Stock Up 6.3 %

The company has a market capitalization of $29.02 billion, a price-to-earnings ratio of 112.43, a PEG ratio of 9.50 and a beta of 0.94. The stock's fifty day simple moving average is $337.29 and its two-hundred day simple moving average is $313.60. 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 issued its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.18. The company had revenue of $504.00 million for the quarter, compared to analysts' expectations of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The firm's revenue was up 34.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. On average, sell-side analysts predict that Axon Enterprise, Inc. will post 1.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Matthew R. Mcbrady sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $364.66, for a total value of $729,320.00. Following the sale, the director now owns 4,892 shares of the company's stock, valued at approximately $1,783,916.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Patrick W. Smith sold 80,300 shares of the 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 sale, the chief executive officer now owns 3,015,366 shares of the company's stock, valued at approximately $1,121,052,771.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew R. Mcbrady sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $364.66, for a total transaction of $729,320.00. Following the completion of the sale, the director now directly owns 4,892 shares in the company, valued at approximately $1,783,916.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 316,981 shares of company stock valued at $115,281,744. Company insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Axon Enterprise

Several large investors have recently bought and sold shares of the stock. Dorsey Wright & Associates increased its stake in Axon Enterprise by 0.3% during the 2nd quarter. Dorsey Wright & Associates now owns 14,053 shares of the biotechnology company's stock valued at $4,135,000 after buying an additional 39 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Axon Enterprise by 0.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company's stock valued at $1,659,000 after purchasing an additional 40 shares in the last quarter. Brookstone Capital Management boosted its position in shares of Axon Enterprise by 5.1% during the 1st quarter. Brookstone Capital Management now owns 839 shares of the biotechnology company's stock valued at $263,000 after purchasing an additional 41 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Axon Enterprise by 1.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,997 shares of the biotechnology company's stock valued at $1,033,000 after purchasing an additional 43 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Axon Enterprise by 1.5% during the 2nd quarter. CWM LLC now owns 2,820 shares of the biotechnology company's stock valued at $830,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

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.