Axon Enterprise, Inc $AXON Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 8.2% in the first quarter, HoldingsChannel reports. The firm owned 826,680 shares of the biotechnology company’s stock after selling 73,717 shares during the period. Jennison Associates LLC’s holdings in Axon Enterprise were worth $351,083,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV purchased a new stake in Axon Enterprise during the 4th quarter worth approximately $28,000. Sound Income Strategies LLC boosted its stake in shares of Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 44 shares during the last quarter. Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise during the 4th quarter valued at approximately $30,000. AlphaCentric Advisors LLC acquired a new stake in shares of Axon Enterprise during the fourth quarter worth approximately $34,000. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Axon Enterprise during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $510.28 on Friday. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $41.13 billion, a price-to-earnings ratio of 204.93, a price-to-earnings-growth ratio of 10.41 and a beta of 1.38. The business 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 quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. During the same period last year, the business posted $1.47 earnings per share. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, equities research analysts expect that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Insider Activity

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of the stock in a transaction 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 directly owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. 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 quarter. 4.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays cut their price target on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. TD Cowen decreased their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Citizens Jmp restated a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, Morgan Stanley set a $600.00 price target on shares of Axon Enterprise in a research report on Thursday, May 7th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $725.25.

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.