Axon Enterprise (NASDAQ:AXON) Reaches New 12-Month High – Still a Buy?

Axon Enterprise, Inc. (NASDAQ:AXON) reached a new 52-week high on Tuesday . The stock traded as high as $715.99 and last traded at $706.73, with a volume of 262519 shares changing hands. The stock had previously closed at $683.41.

Wall Street Analysts Forecast Growth

AXON has been the topic of several recent research reports. TD Cowen initiated coverage on Axon Enterprise in a report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price objective on the stock. Northland Securities raised their price objective on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Needham & Company LLC raised their price objective on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $500.00 to $700.00 in a report on Tuesday, December 3rd. Finally, Northcoast Research downgraded Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $561.31.

Axon Enterprise Price Performance

The company has a market capitalization of $41.18 billion, a price-to-earnings ratio of 139.54, a P/E/G ratio of 7.12 and a beta of 1.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The business has a 50 day moving average price of $624.50 and a 200-day moving average price of $515.36.

Insider Activity

In related news, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $639.69, for a total transaction of $639,690.00. Following the transaction, the director now directly owns 24,259 shares of the company’s stock, valued at approximately $15,518,239.71. This represents a 3.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julie A. Cullivan sold 1,261 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total value of $860,077.66. Following the transaction, the director now directly owns 2,392 shares in the company, valued at approximately $1,631,487.52. This trade represents a 34.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,711 shares of company stock valued at $5,631,561 in the last ninety days. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in Axon Enterprise during the 4th quarter worth approximately $30,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter worth approximately $40,000. Y.D. More Investments Ltd purchased a new stake in shares of Axon Enterprise in the fourth quarter worth approximately $45,000. Elequin Capital LP purchased a new stake in shares of Axon Enterprise in the fourth quarter worth approximately $46,000. Finally, Prestige Wealth Management Group LLC raised its stake in shares of Axon Enterprise by 115.8% in the third quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 44 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

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.