Axon Enterprise, Inc $AXON Position Increased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,019,560 shares of the biotechnology company’s stock after buying an additional 4,731 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Axon Enterprise were worth $574,076,000 as of its most recent SEC filing.

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

Insider Activity

In other news, Director Caitlin Elizabeth Kalinowski sold 564 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $478.97, for a total value of $270,139.08. Following the completion of the sale, the director directly owned 3,632 shares of the company’s stock, valued at $1,739,619.04. This represents a 13.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick W. Smith sold 9,930 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $548.77, for a total transaction of $5,449,286.10. Following the sale, the chief executive officer owned 3,031,067 shares of the company’s stock, valued at approximately $1,663,358,637.59. This represents a 0.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 68,989 shares of company stock worth $36,016,932. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $612.83 on Friday. The stock has a market cap of $49.78 billion, a PE ratio of 254.29, a price-to-earnings-growth ratio of 12.56 and a beta of 1.39. The business has a fifty day simple moving average of $526.06 and a 200-day simple moving average of $474.40. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $794.29.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on AXON shares. JPMorgan Chase & Co. upped their target price on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Piper Sandler upped their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $730.92.

Axon Enterprise Profile

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.