Axon Enterprise (NASDAQ:AXON) Sees Strong Trading Volume – Should You Buy?

Axon Enterprise, Inc. (NASDAQ:AXON) shares saw unusually-high trading volume on Thursday . Approximately 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.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXON. Northcoast Research lowered shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday. Robert W. Baird lifted their price objective on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC lifted their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their target price 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. Finally, Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $561.31.

Axon Enterprise Price Performance

The firm’s fifty day simple moving average is $624.50 and its two-hundred day simple moving average is $515.36. 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 firm has a market cap of $40.73 billion, a PE ratio of 138.01, a P/E/G ratio of 7.12 and a beta of 1.05.

Insider Transactions at Axon Enterprise

In other news, Director Julie A. Cullivan sold 1,261 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $682.06, for a total transaction of $860,077.66. Following the sale, the director now owns 2,392 shares of the company’s stock, valued at approximately $1,631,487.52. The trade was a 34.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $639.69, for a total value of $639,690.00. Following the completion of the transaction, the director now directly owns 24,259 shares in the company, valued at approximately $15,518,239.71. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,711 shares of company stock valued at $5,631,561 in the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AXON. Asset Dedication LLC lifted its holdings in shares of Axon Enterprise by 11.3% in the fourth quarter. Asset Dedication LLC now owns 178 shares of the biotechnology company’s stock valued at $106,000 after purchasing an additional 18 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Axon Enterprise by 1.3% in the fourth quarter. Bleakley Financial Group LLC now owns 1,527 shares of the biotechnology company’s stock valued at $908,000 after buying an additional 20 shares during the period. Venturi Wealth Management LLC grew its position in shares of Axon Enterprise by 2.7% during the fourth quarter. Venturi Wealth Management LLC now owns 802 shares of the biotechnology company’s stock worth $477,000 after buying an additional 21 shares in the last quarter. Insigneo Advisory Services LLC lifted its stake in Axon Enterprise by 1.4% during the third quarter. Insigneo Advisory Services LLC now owns 1,568 shares of the biotechnology company’s stock worth $627,000 after purchasing an additional 22 shares during the last quarter. Finally, Beacon Pointe Advisors LLC grew its holdings in shares of Axon Enterprise by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 864 shares of the biotechnology company’s stock valued at $513,000 after purchasing an additional 22 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Company Profile

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.