Massachusetts Financial Services Co. MA Acquires 249,513 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Massachusetts Financial Services Co. MA raised its holdings in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 82.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 551,197 shares of the biotechnology company's stock after purchasing an additional 249,513 shares during the period. Massachusetts Financial Services Co. MA owned about 0.72% of Axon Enterprise worth $327,587,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AXON. Quantbot Technologies LP bought a new position in Axon Enterprise during the 3rd quarter worth approximately $84,000. Townsquare Capital LLC acquired a new position in Axon Enterprise in the third quarter valued at approximately $261,000. Public Sector Pension Investment Board raised its position in shares of Axon Enterprise by 19.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company's stock worth $1,240,000 after purchasing an additional 500 shares during the period. Martingale Asset Management L P acquired a new stake in shares of Axon Enterprise during the 3rd quarter worth approximately $252,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Axon Enterprise by 2.6% in the 3rd quarter. Captrust Financial Advisors now owns 12,406 shares of the biotechnology company's stock worth $4,958,000 after purchasing an additional 320 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AXON shares. JMP Securities reiterated an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. The Goldman Sachs Group lifted their target price on Axon Enterprise from $500.00 to $700.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Craig Hallum lowered Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $600.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 26th. Finally, Northcoast Research cut shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $604.67.

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Insiders Place Their Bets

In related news, Director Jeri Williams sold 307 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $552.72, for a total value of $169,685.04. Following the sale, the director now owns 1,627 shares of the company's stock, valued at $899,275.44. The trade was a 15.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.10% of the company's stock.

Axon Enterprise Stock Performance

NASDAQ:AXON traded down $2.13 during mid-day trading on Monday, hitting $495.00. 373,044 shares of the company's stock traded hands, compared to its average volume of 805,581. Axon Enterprise, Inc. has a 12 month low of $273.52 and a 12 month high of $715.99. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $37.93 billion, a price-to-earnings ratio of 127.91, a price-to-earnings-growth ratio of 5.17 and a beta of 1.13. The firm has a 50 day moving average of $582.26 and a two-hundred day moving average of $555.87.

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.