Prudential PLC Cuts Stock Position in Axon Enterprise, Inc $AXON

Prudential PLC lessened its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 3.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,985 shares of the biotechnology company’s stock after selling 1,047 shares during the quarter. Prudential PLC’s holdings in Axon Enterprise were worth $18,733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new stake in shares of Axon Enterprise during the fourth quarter worth $480,000. NewEdge Advisors LLC grew its holdings in shares of Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after buying an additional 668 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after buying an additional 157 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after buying an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in shares of Axon Enterprise during the second quarter worth $284,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Activity

In other news, Director Caitlin Elizabeth Kalinowski sold 564 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the transaction, the director owned 3,632 shares of the company’s stock, valued at approximately $1,739,619.04. The trade was a 13.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeri Williams sold 629 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $469.64, for a total transaction of $295,403.56. Following the transaction, the director directly owned 1,141 shares in the company, valued at approximately $535,859.24. The trade was a 35.54% decrease in their position. 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 90 days, insiders sold 3,548 shares of company stock worth $1,542,775. 4.20% of the stock is owned by insiders.

Axon Enterprise Trading Up 6.6%

Shares of AXON stock opened at $513.20 on Friday. The company’s 50-day moving average price is $407.52 and its 200-day moving average price is $491.96. 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 stock has a market cap of $41.36 billion, a price-to-earnings ratio of 206.10, a PEG ratio of 8.75 and a beta of 1.45. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.47 EPS. As a group, equities analysts predict that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AXON shares. Craig Hallum reaffirmed a “buy” rating and set a $820.00 target price on shares of Axon Enterprise in a report on Wednesday, February 25th. UBS Group dropped their target price on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Needham & Company LLC dropped their target price on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a report on Friday, February 20th. Finally, Morgan Stanley set a $600.00 target price on shares of Axon Enterprise in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus target price of $712.75.

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.