Axon Enterprise (NASDAQ:AXON) Reaches New 52-Week High – Here’s Why

Shares of Axon Enterprise, Inc. (NASDAQ:AXON) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $441.33 and last traded at $441.24, with a volume of 152275 shares traded. The stock had previously closed at $438.05.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AXON. Bank of America began coverage on Axon Enterprise in a research note on Wednesday, July 17th. They set a “buy” rating and a $380.00 price objective on the stock. Craig Hallum boosted their price objective on Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Robert W. Baird boosted their price objective on Axon Enterprise from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. JMP Securities boosted their price objective on Axon Enterprise from $375.00 to $430.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, Barclays boosted their price objective on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $382.85.

Axon Enterprise Stock Performance

The company has a market cap of $33.45 billion, a P/E ratio of 117.50, a PEG ratio of 11.74 and a beta of 0.94. The firm has a 50 day moving average of $391.84 and a 200-day moving average of $333.90. The company has a quick ratio of 2.52, a current ratio of 2.88 and a debt-to-equity ratio of 0.35.

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

Insider Buying and Selling

In related news, CEO Patrick W. Smith sold 80,300 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was 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 of the company’s stock, valued at $1,121,052,771.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Axon Enterprise news, CEO Patrick W. Smith sold 80,300 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the completion of the sale, the chief executive officer now owns 3,015,366 shares in the company, valued at $1,121,052,771.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew R. Mcbrady sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,172 shares of company stock valued at $137,000,162 over the last quarter. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Axon Enterprise

A number of hedge funds have recently bought and sold shares of AXON. Vanguard Group Inc. lifted its holdings in shares of Axon Enterprise by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock valued at $2,547,878,000 after purchasing an additional 212,401 shares during the last quarter. Motley Fool Asset Management LLC lifted its holdings in shares of Axon Enterprise by 238.7% during the 1st quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock valued at $153,981,000 after purchasing an additional 346,838 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Axon Enterprise by 44.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 375,700 shares of the biotechnology company’s stock valued at $110,546,000 after purchasing an additional 114,800 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Axon Enterprise by 13.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 368,732 shares of the biotechnology company’s stock valued at $108,496,000 after purchasing an additional 45,049 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Axon Enterprise by 1.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 270,430 shares of the biotechnology company’s stock valued at $79,571,000 after purchasing an additional 4,365 shares during the last quarter. 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.