Axon Enterprise (NASDAQ:AXON) Sees Large Volume Increase – Should You Buy?

Axon Enterprise, Inc. (NASDAQ:AXON) saw strong trading volume on Thursday . 1,004,322 shares changed hands during mid-day trading, an increase of 55% from the previous session’s volume of 646,930 shares.The stock last traded at $538.19 and had previously closed at $593.42.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating and set a $625.00 target price on the stock. in a report on Thursday. Robert W. Baird boosted their target price on shares of Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Northcoast Research downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Needham & Company LLC boosted their target price on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $561.31.

Axon Enterprise Trading Down 5.3 %

The firm has a market cap of $39.13 billion, a PE ratio of 132.62, a P/E/G ratio of 5.43 and a beta of 1.05. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average price is $619.94 and its two-hundred day moving average price is $517.11.

Insider Activity

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of Axon Enterprise stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total transaction of $271,831.50. Following the completion of the sale, the director now owns 6,929 shares in the company, valued at $4,185,601.03. This trade represents a 6.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey C. Kunins sold 2,304 shares of Axon Enterprise stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $654.79, for a total transaction of $1,508,636.16. Following the sale, the insider now owns 128,542 shares of the company’s stock, valued at $84,168,016.18. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,711 shares of company stock valued at $5,631,561. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fourth Dimension Wealth LLC bought a new stake in shares of Axon Enterprise in the 4th quarter valued at about $30,000. Prestige Wealth Management Group LLC raised its holdings in shares of Axon Enterprise by 115.8% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 44 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Axon Enterprise in the 4th quarter valued at about $40,000. Brooklyn Investment Group bought a new stake in shares of Axon Enterprise in the 3rd quarter valued at about $41,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of Axon Enterprise in the 4th quarter valued at about $45,000. Institutional investors own 79.08% of the company’s stock.

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.