Axon Enterprise (NASDAQ:AXON) Rating Increased to Overweight at Morgan Stanley

Axon Enterprise (NASDAQ:AXON) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm presently has a $700.00 target price on the biotechnology company’s stock, up from their prior target price of $500.00. Morgan Stanley’s price target points to a potential upside of 10.00% from the stock’s current price.

A number of other equities analysts have also recently issued reports on AXON. JMP Securities raised their target price on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Barclays increased their price target on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Needham & Company LLC boosted their price objective on Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Robert W. Baird upped their price objective on Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group raised their target price on Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $460.33.

Axon Enterprise Stock Down 1.6 %

AXON stock opened at $636.39 on Tuesday. The firm has a fifty day moving average price of $493.10 and a two-hundred day moving average price of $382.63. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. Axon Enterprise has a 1-year low of $229.02 and a 1-year high of $652.22. The firm has a market cap of $48.52 billion, a price-to-earnings ratio of 164.44, a PEG ratio of 14.24 and a beta of 1.01.

Insiders Place Their Bets

In related news, insider Jeffrey C. Kunins sold 21,834 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $593.88, for a total transaction of $12,966,775.92. Following the completion of the sale, the insider now directly owns 154,394 shares of the company’s stock, valued at $91,691,508.72. This represents a 12.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick W. Smith sold 47,314 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $400.07, for a total transaction of $18,928,911.98. Following the sale, the chief executive officer now owns 2,983,802 shares of the company’s stock, valued at $1,193,729,666.14. The trade was a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,256 shares of company stock worth $61,043,370. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of Axon Enterprise by 987.5% during the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 79 shares during the period. Quent Capital LLC increased its stake in Axon Enterprise by 1,875.0% in the 3rd quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 75 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in Axon Enterprise by 115.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock worth $33,000 after buying an additional 44 shares during the period. Brooklyn Investment Group purchased a new stake in Axon Enterprise during the third quarter valued at about $41,000. Finally, Asset Dedication LLC acquired a new position in shares of Axon Enterprise in the second quarter worth about $47,000. Institutional investors and hedge funds 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.