Axon Enterprise (NASDAQ:AXON) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Axon Enterprise (NASDAQ:AXON) had its target price increased by analysts at The Goldman Sachs Group from $500.00 to $700.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 15.74% from the stock’s previous close.

AXON has been the topic of a number of other research reports. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. TD Cowen initiated coverage on Axon Enterprise in a research report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price objective for the company. Needham & Company LLC raised their price target 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. Robert W. Baird boosted their price objective on shares of Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, 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 research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and a consensus price target of $524.85.

Axon Enterprise Price Performance

NASDAQ:AXON traded down $5.51 during mid-day trading on Monday, hitting $604.81. 147,332 shares of the company’s stock traded hands, compared to its average volume of 557,215. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The company has a market cap of $46.12 billion, a PE ratio of 156.28, a price-to-earnings-growth ratio of 6.09 and a beta of 1.04. The firm’s 50 day simple moving average is $617.65 and its 200 day simple moving average is $472.00. Axon Enterprise has a 1 year low of $247.04 and a 1 year high of $698.67.

Insider Activity

In related news, insider Jeffrey C. Kunins sold 21,834 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $593.88, for a total transaction of $12,966,775.92. Following the completion of the transaction, the insider now directly owns 154,394 shares in the company, valued at $91,691,508.72. This represents a 12.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total value of $271,831.50. Following the completion of the sale, the director now owns 6,929 shares in the company, valued at $4,185,601.03. The trade was a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,545 shares of company stock worth $30,721,337. 6.10% of the stock is currently owned by insiders.

Institutional Trading of Axon Enterprise

A number of large investors have recently modified their holdings of AXON. New Wave Wealth Advisors LLC acquired a new position in Axon Enterprise during the 4th quarter valued at about $40,000. Quent Capital LLC boosted its position in shares of Axon Enterprise by 1,875.0% during the third quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock worth $32,000 after buying an additional 75 shares during the period. Prestige Wealth Management Group LLC grew its holdings in Axon Enterprise by 115.8% in 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 in the last quarter. GPS Wealth Strategies Group LLC increased its position in Axon Enterprise by 74.1% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 94 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 40 shares during the period. Finally, Versant Capital Management Inc raised its stake in Axon Enterprise by 4,750.0% during the 4th quarter. Versant Capital Management Inc now owns 97 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 95 shares in the last quarter. 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.