Jennison Associates LLC Has $511.36 Million Holdings in Axon Enterprise, Inc $AXON

Key Points

• Jennison Associates LLC trimmed its stake in Axon by 4.6%, selling 43,547 shares to hold 900,397 shares (a 1.14% position) valued at about $511.36 million.
• Axon beat the quarter: it reported $2.15 EPS vs. $1.60 expected and revenue of $796.72 million (vs. $755.29M expected), with revenue up 38.5% year‑over‑year.
• The stock trades around $395.57 versus an average analyst price target of $749.63 (consensus "Moderate Buy"), while institutions own about 79.08% of shares and insiders sold roughly $7.11 million in the past three months.

Jennison Associates LLC lessened its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 900,397 shares of the biotechnology company's stock after selling 43,547 shares during the quarter. Jennison Associates LLC owned 1.14% of Axon Enterprise worth $511,363,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new stake in shares of Axon Enterprise in the 3rd quarter valued at about $29,000. New Millennium Group LLC acquired a new stake in shares of Axon Enterprise in the 3rd quarter valued at about $29,000. Sound Income Strategies LLC raised 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 during the period. Camelot Portfolios LLC acquired a new stake in shares of Axon Enterprise in the 4th quarter valued at about $30,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Axon Enterprise in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings downgraded Axon Enterprise from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 10th. Citigroup reissued a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, February 25th. UBS Group dropped their price target on Axon Enterprise from $610.00 to $570.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 25th. Barclays dropped their price target on Axon Enterprise from $702.00 to $682.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. Finally, Robert W. Baird set a $800.00 price target on Axon Enterprise in a research note on Wednesday, February 25th. Sixteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and an average price target of $749.63.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $395.57 on Thursday. The stock has a market capitalization of $31.87 billion, a price-to-earnings ratio of 261.15, a PEG ratio of 8.59 and a beta of 1.61. The business has a 50-day moving average of $454.84 and a 200-day moving average of $536.33. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 2.29. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.55. The company had revenue of $796.72 million during the quarter, compared to analysts' expectations of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.Axon Enterprise's revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Jennifer H. Mak sold 1,500 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the transaction, the chief accounting officer owned 12,240 shares in the company, valued at $7,019,028. This trade represents a 10.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $535.01, for a total value of $1,070,020.00. Following the completion of the transaction, the insider owned 55,588 shares of the company's stock, valued at $29,740,135.88. The trade was a 3.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,855 shares of company stock worth $7,109,828 over the last three months. Company insiders own 5.70% of the company's stock.

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.

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