Axon Enterprise (NASDAQ:AXON) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Axon Enterprise (NASDAQ:AXON) from an equal weight rating to an overweight rating in a research report report published on Tuesday morning, MarketBeat reports. The brokerage currently has $700.00 target price on the biotechnology company’s stock, up from their previous target price of $500.00.

Several other brokerages have also issued reports on AXON. Barclays increased their price target on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Craig Hallum raised 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. The Goldman Sachs Group boosted their price target on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Northland Securities upped their price target on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Robert W. Baird lifted their price objective on Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $460.33.

Axon Enterprise Price Performance

Shares of AXON stock opened at $689.78 on Tuesday. The business’s fifty day moving average is $504.47 and its 200 day moving average is $387.43. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The stock has a market cap of $52.60 billion, a price-to-earnings ratio of 178.24, a PEG ratio of 14.74 and a beta of 1.01. Axon Enterprise has a twelve month low of $231.83 and a twelve month high of $695.94.

Insider Activity

In related news, CFO Brittany Bagley sold 4,338 shares of Axon Enterprise stock in a transaction on 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 owns 98,825 shares of the company’s stock, valued at $37,449,733.75. The trade was a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick W. Smith sold 47,314 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $400.07, for a total value of $18,928,911.98. Following the completion of the transaction, the chief executive officer now directly owns 2,983,802 shares in the company, valued at approximately $1,193,729,666.14. This represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,921 shares of company stock valued at $63,093,907 in the last 90 days. 6.10% of the stock is currently owned by insiders.

Institutional Trading of Axon Enterprise

Several large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its position in shares of Axon Enterprise by 280.6% during the 1st quarter. Cetera Investment Advisers now owns 21,067 shares of the biotechnology company’s stock valued at $6,592,000 after acquiring an additional 15,532 shares during the period. Cetera Advisors LLC increased its position in Axon Enterprise by 49.7% in the first quarter. Cetera Advisors LLC now owns 7,623 shares of the biotechnology company’s stock worth $2,385,000 after buying an additional 2,532 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Axon Enterprise by 38.5% in the second quarter. GAMMA Investing LLC now owns 640 shares of the biotechnology company’s stock worth $188,000 after buying an additional 178 shares during the period. Mather Group LLC. lifted its position in shares of Axon Enterprise by 33.6% during the 2nd quarter. Mather Group LLC. now owns 732 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 184 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Axon Enterprise by 7.2% during the 2nd quarter. Park Avenue Securities LLC now owns 4,326 shares of the biotechnology company’s stock valued at $1,273,000 after acquiring an additional 291 shares during the period. 79.08% of the stock is currently owned by institutional investors.

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.