Axon Enterprise (NASDAQ:AXON) Trading 7.7% Higher – Should You Buy?

Axon Enterprise, Inc (NASDAQ:AXON) shares traded up 7.7% during mid-day trading on Monday . The stock traded as high as $569.60 and last traded at $568.1680. Approximately 72,477 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,061,518 shares. The stock had previously closed at $527.76.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays decreased their price objective on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Needham & Company LLC upped their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Piper Sandler raised their price target on shares of Axon Enterprise from $674.00 to $724.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $725.25.

Axon Enterprise Stock Up 6.9%

The company has a market cap of $45.48 billion, a P/E ratio of 226.39, a PEG ratio of 10.77 and a beta of 1.39. The stock has a 50-day moving average of $497.09 and a 200 day moving average of $475.52. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.47 EPS. Research analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the sale, the insider owned 34,024 shares of the company’s stock, valued at approximately $16,501,640. This trade represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the completion of the transaction, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. The trade was a 2.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Axon Enterprise

Several large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. lifted its stake in shares of Axon Enterprise by 53.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock valued at $6,542,000 after acquiring an additional 4,002 shares during the last quarter. Legal & General Group Plc grew its position in Axon Enterprise by 1.3% during the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock worth $242,241,000 after acquiring an additional 5,419 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Axon Enterprise during the 4th quarter worth $13,116,000. Arrowstreet Capital Limited Partnership acquired a new position in Axon Enterprise in the 1st quarter worth about $15,067,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Axon Enterprise by 40.7% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,083 shares of the biotechnology company’s stock worth $6,406,000 after purchasing an additional 4,360 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

About Axon Enterprise

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.