Axon Enterprise (NASDAQ:AXON) Sees Unusually-High Trading Volume Following Analyst Upgrade

Axon Enterprise, Inc. (NASDAQ:AXON) shares saw strong trading volume on Thursday after JMP Securities raised their price target on the stock from $375.00 to $430.00. JMP Securities currently has an outperform rating on the stock. 239,336 shares were traded during trading, a decline of 54% from the previous session’s volume of 516,155 shares.The stock last traded at $376.46 and had previously closed at $361.71.

A number of other research analysts have also recently weighed in on the stock. Craig Hallum lifted their price target on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Bank of America assumed coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $380.00 price target on the stock. Northland Securities lifted their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Barclays lifted their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird lifted their price objective on shares of Axon Enterprise from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $365.38.

Insider Transactions at Axon Enterprise

In other news, CFO Brittany Bagley sold 4,338 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $378.95, for a total value of $1,643,885.10. Following the completion of the sale, the chief financial officer now directly owns 98,825 shares of the company’s stock, valued at approximately $37,449,733.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Brittany Bagley sold 4,338 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $378.95, for a total transaction of $1,643,885.10. Following the completion of the sale, the chief financial officer now directly owns 98,825 shares of the company’s stock, valued at $37,449,733.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick W. Smith sold 80,300 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the sale, the chief executive officer now directly owns 3,015,366 shares of the company’s stock, valued at $1,121,052,771.48. The disclosure for this sale can be found here. In the last three months, insiders sold 316,981 shares of company stock valued at $115,281,744. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Several hedge funds have recently made changes to their positions in AXON. Norges Bank purchased a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $195,406,000. Motley Fool Asset Management LLC lifted its position in shares of Axon Enterprise by 238.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock valued at $153,981,000 after acquiring an additional 346,838 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Axon Enterprise in the 1st quarter valued at approximately $81,630,000. Vanguard Group Inc. lifted its position in shares of Axon Enterprise by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock valued at $2,547,878,000 after acquiring an additional 212,401 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Axon Enterprise by 110.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 276,011 shares of the biotechnology company’s stock valued at $71,302,000 after buying an additional 144,568 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Down 1.3 %

The stock has a market cap of $28.69 billion, a price-to-earnings ratio of 111.00, a price-to-earnings-growth ratio of 9.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 2.88. The company’s 50 day simple moving average is $338.92 and its two-hundred day simple moving average is $314.35.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.18. The firm had revenue of $504.00 million for the quarter, compared to analyst estimates of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The company’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 EPS. Research analysts expect that Axon Enterprise, Inc. will post 1.79 EPS for the current fiscal year.

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.