Axon Enterprise (NASDAQ:AXON) Reaches New 52-Week High - Time to Buy?

Axon Enterprise, Inc. (NASDAQ:AXON - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $750.00 and last traded at $745.97, with a volume of 59020 shares changing hands. The stock had previously closed at $746.08.

Analyst Ratings Changes

Several research firms have commented on AXON. Craig Hallum downgraded shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. JMP Securities reaffirmed an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, February 4th. Northcoast Research downgraded shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Needham & Company LLC upped their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $652.73.

Axon Enterprise Stock Up 1.8%

The firm has a market capitalization of $57.89 billion, a PE ratio of 192.15, a PEG ratio of 5.17 and a beta of 1.24. The company has a fifty day moving average price of $620.57 and a 200-day moving average price of $610.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The business had revenue of $603.63 million for the quarter, compared to analysts' expectations of $585.67 million. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The company's revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 EPS. As a group, analysts expect that Axon Enterprise, Inc. will post 5.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, President Joshua Isner sold 9,905 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $738.03, for a total transaction of $7,310,187.15. Following the sale, the president now owns 298,809 shares of the company's stock, valued at $220,530,006.27. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeri Williams sold 307 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total value of $169,685.04. Following the sale, the director now directly owns 1,627 shares in the company, valued at approximately $899,275.44. The trade was a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,969 shares of company stock worth $23,127,314 over the last quarter. Company insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC purchased a new stake in Axon Enterprise in the fourth quarter valued at about $488,000. Chicago Capital LLC raised its stake in Axon Enterprise by 8.2% in the fourth quarter. Chicago Capital LLC now owns 23,358 shares of the biotechnology company's stock valued at $13,882,000 after buying an additional 1,775 shares during the last quarter. Savant Capital LLC raised its stake in Axon Enterprise by 5.7% in the fourth quarter. Savant Capital LLC now owns 1,080 shares of the biotechnology company's stock valued at $642,000 after buying an additional 58 shares during the last quarter. Spire Wealth Management raised its stake in Axon Enterprise by 4,094.6% in the fourth quarter. Spire Wealth Management now owns 8,473 shares of the biotechnology company's stock valued at $5,036,000 after buying an additional 8,271 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in Axon Enterprise by 255.7% in the fourth quarter. Principal Securities Inc. now owns 1,085 shares of the biotechnology company's stock valued at $645,000 after buying an additional 780 shares during the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

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.