Jennison Associates LLC Sells 742,063 Shares of Axon Enterprise, Inc $AXON

Jennison Associates LLC cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 89.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,617 shares of the biotechnology company’s stock after selling 742,063 shares during the quarter. Jennison Associates LLC’s holdings in Axon Enterprise were worth $47,437,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AXON. Creative Financial Designs Inc. ADV purchased a new position in shares of Axon Enterprise in the 4th quarter worth about $28,000. Camelot Portfolios LLC purchased a new stake in Axon Enterprise during the fourth quarter worth about $30,000. AlphaCentric Advisors LLC purchased a new stake in Axon Enterprise during the fourth quarter worth about $34,000. Darwin Wealth Management LLC bought a new stake in Axon Enterprise in the second quarter worth about $37,000. Finally, Strive Financial Group LLC bought a new stake in Axon Enterprise in the fourth quarter worth about $41,000. 79.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AXON shares. 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. Zacks Research cut shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. UBS Group upped their price objective on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Piper Sandler increased their price objective on Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $715.00 target price on shares of Axon Enterprise in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $730.92.

Axon Enterprise Trading Down 0.4%

Shares of Axon Enterprise stock opened at $612.83 on Friday. The company’s 50-day moving average price is $526.06 and its 200-day moving average price is $474.40. The company has a current ratio of 2.15, a quick ratio of 1.80 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. The company has a market cap of $49.78 billion, a price-to-earnings ratio of 254.29, a PEG ratio of 12.56 and a beta of 1.39.

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

Insider Transactions at Axon Enterprise

In other news, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the transaction, the president 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Isaiah Fields sold 2,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value of $800,000.00. Following the completion of the sale, the insider owned 52,813 shares in the company, valued at $21,125,200. This trade represents a 3.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 68,989 shares of company stock worth $36,016,932. 4.20% of the stock is owned by corporate insiders.

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.