Axon Enterprise (NASDAQ:AXON) Shares Gap Up – Here’s What Happened

Axon Enterprise, Inc. (NASDAQ:AXON)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $496.65, but opened at $584.95. Axon Enterprise shares last traded at $573.84, with a volume of 785,315 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, January 27th. TD Cowen initiated coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price target for the company. JMP Securities reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Finally, Northland Securities boosted their target price on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $561.31.

Axon Enterprise Trading Up 14.7 %

The stock has a market capitalization of $43.43 billion, a P/E ratio of 147.19, a PEG ratio of 5.17 and a beta of 1.05. The stock’s fifty day moving average price is $614.17 and its 200 day moving average price is $521.71. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63.

Insider Buying and Selling at Axon Enterprise

In related news, insider Jeffrey C. Kunins sold 2,304 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $654.79, for a total value of $1,508,636.16. Following the completion of the sale, the insider now owns 128,542 shares in the company, valued at approximately $84,168,016.18. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julie A. Cullivan sold 1,261 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total value of $860,077.66. Following the transaction, the director now owns 2,392 shares in the company, valued at $1,631,487.52. The trade was a 34.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,711 shares of company stock valued at $5,631,561 in the last three months. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Axon Enterprise

Hedge funds have recently added to or reduced their stakes in the business. 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 increased its holdings in Axon Enterprise by 115.8% during the third quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 44 shares during the period. New Wave Wealth Advisors LLC bought a new position in Axon Enterprise in the fourth quarter worth approximately $40,000. Brooklyn Investment Group purchased a new stake in Axon Enterprise during the third quarter worth $41,000. Finally, Y.D. More Investments Ltd bought a new stake in Axon Enterprise during the 4th quarter valued at $45,000. 79.08% of the stock is 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.