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

Axon Enterprise, Inc. (NASDAQ:AXON)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $645.39 and last traded at $643.34, with a volume of 30117 shares changing hands. The stock had previously closed at $634.96.

Wall Street Analyst Weigh In

Several research firms have issued reports on AXON. The Goldman Sachs Group raised their price target on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird lifted their target price on shares of Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Barclays increased their price target on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Northland Securities lifted their price objective on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Craig Hallum increased their target price on Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.83.

Axon Enterprise Stock Up 2.2 %

The firm has a 50 day simple moving average of $483.18 and a two-hundred day simple moving average of $376.61. The stock has a market cap of $49.47 billion, a P/E ratio of 164.07, a P/E/G ratio of 13.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96.

Insider Activity at Axon Enterprise

In other news, insider Jeffrey C. Kunins sold 21,834 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $593.88, for a total transaction of $12,966,775.92. Following the completion of the sale, the insider now directly owns 154,394 shares of the company’s stock, valued at $91,691,508.72. This represents a 12.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Joshua Isner sold 25,811 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $359.84, for a total transaction of $9,287,830.24. Following the transaction, the president now owns 228,166 shares in the company, valued at approximately $82,103,253.44. The trade was a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 210,256 shares of company stock worth $87,783,120 over the last quarter. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Axon Enterprise by 2.0% in the third quarter. Geode Capital Management LLC now owns 1,782,828 shares of the biotechnology company’s stock valued at $710,103,000 after purchasing an additional 35,320 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Axon Enterprise by 12.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock worth $469,661,000 after purchasing an additional 127,769 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Axon Enterprise by 13.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company’s stock valued at $272,695,000 after purchasing an additional 83,265 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Axon Enterprise by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 561,263 shares of the biotechnology company’s stock worth $224,281,000 after purchasing an additional 9,090 shares in the last quarter. Finally, Groupama Asset Managment acquired a new position in Axon Enterprise during the third quarter worth $200,000. Hedge funds and other institutional investors 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.