Axon Enterprise, Inc $AXON Holdings Lifted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its position in Axon Enterprise, Inc (NASDAQ:AXON) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,019,560 shares of the biotechnology company’s stock after purchasing an additional 4,731 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.26% of Axon Enterprise worth $574,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Platform Technology Partners acquired a new position in shares of Axon Enterprise during the second quarter worth approximately $371,000. Fortis Group Advisors LLC bought a new position in Axon Enterprise in the 2nd quarter worth approximately $1,747,000. Stonebridge Financial Group LLC MO acquired a new stake in Axon Enterprise in the 2nd quarter valued at approximately $268,000. Pine Valley Investments Ltd Liability Co increased its position in Axon Enterprise by 26.2% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 6,184 shares of the biotechnology company’s stock valued at $3,467,000 after acquiring an additional 1,283 shares during the period. Finally, Barrett & Company Inc. bought a new stake in Axon Enterprise during the 2nd quarter valued at $157,000. Institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AXON shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Piper Sandler raised their price target on Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Morgan Stanley upped their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Barclays increased their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $730.92.

Axon Enterprise Stock Performance

AXON opened at $612.83 on Friday. The company has a market capitalization of $49.78 billion, a price-to-earnings ratio of 254.29, a price-to-earnings-growth ratio of 12.56 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $794.29. The business has a 50 day moving average price of $526.06 and a two-hundred day moving average price of $474.40.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. During the same period last year, the firm earned $2.12 EPS. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. Research analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president owned 169,125 shares of the company’s stock, valued at $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of Axon Enterprise stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $478.97, for a total value of $270,139.08. Following the transaction, the director directly owned 3,632 shares in the company, valued at approximately $1,739,619.04. The trade was a 13.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 68,989 shares of company stock valued at $36,016,932. 4.20% of the stock is currently owned by insiders.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.