Axon Enterprise (NASDAQ:AXON) Hits New 52-Week High – Still a Buy?

Axon Enterprise, Inc. (NASDAQ:AXON)’s stock price reached a new 52-week high on Monday . The company traded as high as $806.64 and last traded at $789.00, with a volume of 72006 shares. The stock had previously closed at $791.85.

Analyst Upgrades and Downgrades

AXON has been the topic of several recent analyst reports. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a report on Monday, March 10th. The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Barclays boosted their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC boosted their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $699.55.

Axon Enterprise Stock Down 2.7%

The stock has a market capitalization of $59.37 billion, a price-to-earnings ratio of 197.07, a price-to-earnings-growth ratio of 5.17 and a beta of 1.29. The business’s 50-day moving average is $652.86 and its two-hundred day moving average is $618.42. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. The firm had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. Axon Enterprise’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.15 earnings per share. Equities analysts anticipate that Axon Enterprise, Inc. will post 5.8 EPS for the current year.

Insider Buying and Selling

In other Axon Enterprise news, President Joshua Isner sold 9,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $683.31, for a total value of $6,149,790.00. Following the transaction, the president now directly owns 308,714 shares in the company, valued at $210,947,363.34. The trade was a 2.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael Garnreiter sold 5,913 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the completion of the transaction, the director now owns 17,740 shares in the company, valued at $13,482,400. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,969 shares of company stock worth $29,909,594. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Axon Enterprise

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Axon Enterprise by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company’s stock worth $4,540,005,000 after acquiring an additional 185,571 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Axon Enterprise by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company’s stock worth $1,095,542,000 after acquiring an additional 65,097 shares during the last quarter. Capital World Investors lifted its holdings in shares of Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company’s stock worth $1,079,145,000 after acquiring an additional 841,772 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Axon Enterprise by 15.9% in the 1st quarter. Alliancebernstein L.P. now owns 1,284,935 shares of the biotechnology company’s stock worth $675,812,000 after acquiring an additional 175,890 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Axon Enterprise by 29.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock worth $487,977,000 after acquiring an additional 212,931 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.