Axon Enterprise (NASDAQ:AXON) Price Target Lowered to $600.00 at Needham & Company LLC

Axon Enterprise (NASDAQ:AXON) had its target price cut by analysts at Needham & Company LLC from $870.00 to $600.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 36.02% from the stock’s current price.

AXON has been the subject of several other reports. Wall Street Zen cut shares of Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Royal Bank Of Canada began coverage on shares of Axon Enterprise in a research report on Monday, November 17th. They issued an “outperform” rating and a $860.00 target price for the company. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. UBS Group dropped their price target on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Finally, William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $786.43.

Axon Enterprise Price Performance

NASDAQ AXON opened at $441.12 on Friday. Axon Enterprise has a one year low of $396.41 and a one year high of $885.91. The stock has a 50-day moving average of $547.24 and a 200 day moving average of $640.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12. The company has a market capitalization of $34.81 billion, a price-to-earnings ratio of 139.60, a PEG ratio of 12.96 and a beta of 1.48.

Insider Activity at Axon Enterprise

In other news, CAO Jennifer H. Mak sold 1,134 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $600.00, for a total value of $680,400.00. Following the transaction, the chief accounting officer owned 13,740 shares of the company’s stock, valued at $8,244,000. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $551.92, for a total value of $5,519,200.00. Following the transaction, the chief executive officer owned 3,110,997 shares of the company’s stock, valued at approximately $1,717,021,464.24. This trade represents a 0.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,040 shares of company stock valued at $27,249,338 in the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Axon Enterprise by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock worth $5,319,928,000 after purchasing an additional 53,060 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Axon Enterprise by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock worth $1,265,657,000 after buying an additional 35,544 shares during the period. Baillie Gifford & Co. increased its stake in Axon Enterprise by 1,198.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after buying an additional 1,516,099 shares in the last quarter. Sands Capital Management LLC raised its holdings in Axon Enterprise by 11.6% during the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after acquiring an additional 167,095 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Axon Enterprise by 326.9% in the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock valued at $874,463,000 after acquiring an additional 1,179,038 shares in 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 technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.