Axon Enterprise (NASDAQ:AXON) Shares Gap Up – Still a Buy?

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $496.65, but opened at $584.95. Axon Enterprise shares last traded at $573.84, with a volume of 785,315 shares.

Analyst Ratings Changes

A number of research firms have recently weighed in on AXON. Morgan Stanley upgraded shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. JMP Securities reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, February 4th. The Goldman Sachs Group upped their price target on Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and issued a $600.00 price objective on shares of Axon Enterprise in a research report on Wednesday. Finally, Craig Hallum lowered Axon Enterprise from a “buy” rating to a “hold” rating and set a $625.00 target price on the stock. in a research report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Axon Enterprise presently has an average rating of “Moderate Buy” and an average target price of $561.31.

Axon Enterprise Stock Up 14.7 %

The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The business’s 50-day simple moving average is $614.17 and its 200-day simple moving average is $521.71. The company has a market capitalization of $43.43 billion, a PE ratio of 147.19, a price-to-earnings-growth ratio of 5.17 and a beta of 1.05.

Insider Buying and Selling

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 2,304 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $654.79, for a total value of $1,508,636.16. Following the sale, the insider now owns 128,542 shares in the company, valued at approximately $84,168,016.18. This represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of Axon Enterprise stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total transaction of $271,831.50. Following the transaction, the director now directly owns 6,929 shares of the company’s stock, valued at approximately $4,185,601.03. This trade represents a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,711 shares of company stock valued at $5,631,561 over the last 90 days. Insiders own 5.70% of the company’s stock.

Institutional Trading of Axon Enterprise

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXON. PVG Asset Management Corp acquired a new stake in shares of Axon Enterprise during the 4th quarter valued at about $386,000. Mackenzie Financial Corp boosted its position in Axon Enterprise by 14.8% during the fourth quarter. Mackenzie Financial Corp now owns 7,181 shares of the biotechnology company’s stock worth $4,268,000 after purchasing an additional 928 shares in the last quarter. Toronto Dominion Bank boosted its position in Axon Enterprise by 38.3% during the fourth quarter. Toronto Dominion Bank now owns 33,273 shares of the biotechnology company’s stock worth $19,775,000 after purchasing an additional 9,209 shares in the last quarter. Cache Advisors LLC acquired a new stake in Axon Enterprise in the fourth quarter valued at approximately $2,379,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $4,656,000. 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.