Axon Enterprise (NASDAQ:AXON) Trading 7.6% Higher – Here’s Why

Shares of Axon Enterprise, Inc (NASDAQ:AXON) traded up 7.6% during trading on Thursday . The company traded as high as $416.19 and last traded at $420.9350. 115,503 shares changed hands during trading, a decline of 89% from the average session volume of 1,064,069 shares. The stock had previously closed at $391.32.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Robert W. Baird set a $800.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 25th. Citigroup reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, February 25th. Craig Hallum reissued a “buy” rating and set a $820.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 25th. Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Finally, Needham & Company LLC decreased their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $712.75.

Axon Enterprise Stock Up 11.7%

The company has a market cap of $35.23 billion, a PE ratio of 175.43, a P/E/G ratio of 7.01 and a beta of 1.44. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The firm’s fifty day simple moving average is $410.07 and its 200-day simple moving average is $496.12.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. The business had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 earnings per share. As a group, equities research analysts expect that Axon Enterprise, Inc will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Isaiah Fields sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $400.00, for a total transaction of $800,000.00. Following the transaction, the insider owned 52,813 shares of the company’s stock, valued at approximately $21,125,200. This represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Erika Nardini sold 198 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total transaction of $100,302.84. Following the transaction, the director directly owned 1,946 shares in the company, valued at $985,804.68. The trade was a 9.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 5,855 shares of company stock worth $2,907,428. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently modified their holdings of AXON. Baillie Gifford & Co. lifted its stake in shares of Axon Enterprise by 1,198.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock valued at $932,869,000 after buying an additional 1,516,099 shares during the period. Edgewood Management LLC purchased a new position in shares of Axon Enterprise during the fourth quarter valued at approximately $846,516,000. Wellington Management Group LLP lifted its stake in shares of Axon Enterprise by 326.9% during 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 buying an additional 1,179,038 shares during the period. Norges Bank purchased a new position in shares of Axon Enterprise during the fourth quarter valued at approximately $515,764,000. Finally, Vanguard Group Inc. lifted its stake in shares of Axon Enterprise by 4.2% during the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock valued at $6,684,217,000 after buying an additional 376,904 shares during the period. 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.