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

Axon Enterprise (NASDAQ:AXON) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday, Marketbeat Ratings reports. The firm currently has a $700.00 target price on the biotechnology company’s stock, up from their previous target price of $500.00. Morgan Stanley’s target price suggests a potential upside of 1.83% from the company’s current price.

Several other analysts have also commented on AXON. The Goldman Sachs Group increased their price target on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC increased their price target on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Craig Hallum raised their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Barclays raised their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, JMP Securities raised their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $460.33.

Axon Enterprise Stock Up 2.6 %

NASDAQ:AXON opened at $687.39 on Tuesday. Axon Enterprise has a 1-year low of $229.02 and a 1-year high of $689.39. The company has a 50-day moving average of $498.62 and a 200 day moving average of $385.31. The firm has a market cap of $52.42 billion, a PE ratio of 176.65, a price-to-earnings-growth ratio of 14.00 and a beta of 1.01. 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 Activity

In other Axon Enterprise news, President Joshua Isner sold 25,811 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $359.84, for a total value of $9,287,830.24. Following the transaction, the president now owns 228,166 shares in the company, valued at approximately $82,103,253.44. This trade represents a 10.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Patrick W. Smith sold 47,314 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $400.07, for a total value of $18,928,911.98. Following the completion of the transaction, the chief executive officer now owns 2,983,802 shares in the company, valued at $1,193,729,666.14. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,660 shares of company stock worth $62,233,829 in the last quarter. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers increased its position in shares of Axon Enterprise by 280.6% during the 1st quarter. Cetera Investment Advisers now owns 21,067 shares of the biotechnology company’s stock worth $6,592,000 after purchasing an additional 15,532 shares during the last quarter. Cetera Advisors LLC increased its position in shares of Axon Enterprise by 49.7% during the 1st quarter. Cetera Advisors LLC now owns 7,623 shares of the biotechnology company’s stock worth $2,385,000 after purchasing an additional 2,532 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Axon Enterprise by 38.5% during the 2nd quarter. GAMMA Investing LLC now owns 640 shares of the biotechnology company’s stock worth $188,000 after purchasing an additional 178 shares during the last quarter. Mather Group LLC. increased its position in shares of Axon Enterprise by 33.6% during the 2nd quarter. Mather Group LLC. now owns 732 shares of the biotechnology company’s stock worth $229,000 after purchasing an additional 184 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Axon Enterprise by 7.2% during the 2nd quarter. Park Avenue Securities LLC now owns 4,326 shares of the biotechnology company’s stock worth $1,273,000 after purchasing an additional 291 shares during the last quarter. Hedge funds and other institutional investors 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.