Jennison Associates LLC Lowers Position in Axon Enterprise, Inc $AXON

Jennison Associates LLC lowered its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 826,680 shares of the biotechnology company’s stock after selling 73,717 shares during the period. Jennison Associates LLC owned approximately 1.03% of Axon Enterprise worth $351,083,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new position in Axon Enterprise in the second quarter valued at $37,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Axon Enterprise in the 4th quarter worth about $28,000. Sound Income Strategies LLC lifted its stake in shares of Axon Enterprise by 550.0% in the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 44 shares in the last quarter. Camelot Portfolios LLC acquired a new position in shares of Axon Enterprise in the 4th quarter valued at about $30,000. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Axon Enterprise during the 4th quarter worth about $34,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the sale, the president owned 169,125 shares in the company, valued at $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $643.79, for a total transaction of $6,437,900.00. Following the transaction, the chief executive officer directly owned 3,040,997 shares in the company, valued at approximately $1,957,763,458.63. The trade was 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. Insiders have sold 58,989 shares of company stock valued at $30,527,983 over the last three months. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Price Performance

AXON stock opened at $510.28 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The firm has a market cap of $41.13 billion, a P/E ratio of 204.93, a price-to-earnings-growth ratio of 10.41 and a beta of 1.38. The stock has a 50-day simple moving average of $471.67 and a 200-day simple moving average of $481.88.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company’s revenue was up 33.7% on a year-over-year basis. During the same period last year, the business posted $1.47 EPS. On average, equities analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AXON shares. The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a research report on Thursday, May 7th. Piper Sandler lifted their price target on shares of Axon Enterprise from $674.00 to $724.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Zacks Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Barclays dropped their price objective on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Needham & Company LLC raised their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $725.25.

Axon Enterprise Company 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.