Axon Enterprise (NASDAQ:AXON) Given New $700.00 Price Target at The Goldman Sachs Group

Axon Enterprise (NASDAQ:AXON) had its price objective raised by equities researchers at The Goldman Sachs Group from $500.00 to $700.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 15.74% from the company’s previous close.

A number of other equities analysts have also weighed in on AXON. Robert W. Baird boosted their price objective on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. 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 objective for the company. Morgan Stanley raised shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $500.00 to $700.00 in a research note on Tuesday, December 3rd. 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 report on Friday, November 8th. Finally, JMP Securities upped their price objective on Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a 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 stock. According to MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and an average price target of $524.85.

Axon Enterprise Price Performance

AXON traded down $5.51 on Monday, reaching $604.81. 147,332 shares of the company’s stock were exchanged, compared to its average volume of 557,215. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The stock’s fifty day moving average price is $617.65 and its 200-day moving average price is $472.00. Axon Enterprise has a twelve month low of $247.04 and a twelve month high of $698.67. The stock has a market cap of $46.12 billion, a PE ratio of 156.28, a P/E/G ratio of 6.09 and a beta of 1.04.

Insider Transactions at Axon Enterprise

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total transaction 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. This represents a 6.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $639.69, for a total transaction of $639,690.00. Following the completion of the sale, the director now directly owns 24,259 shares of the company’s stock, valued at $15,518,239.71. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,545 shares of company stock worth $30,721,337. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Axon Enterprise by 2.0% in the third quarter. Geode Capital Management LLC now owns 1,782,828 shares of the biotechnology company’s stock valued at $710,103,000 after buying an additional 35,320 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Axon Enterprise by 12.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock worth $469,661,000 after purchasing an additional 127,769 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Axon Enterprise by 13.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company’s stock valued at $272,695,000 after purchasing an additional 83,265 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Axon Enterprise by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 561,263 shares of the biotechnology company’s stock valued at $224,281,000 after purchasing an additional 9,090 shares during the period. Finally, Groupama Asset Managment purchased a new stake in Axon Enterprise during the third quarter worth about $200,000. 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.