Prudential PLC Purchases 3,400 Shares of Axon Enterprise, Inc $AXON

Key Points

• Prudential PLC increased its stake in Axon by 11.1%, buying 3,400 shares in Q3 to hold 34,032 shares valued at $24,423,000.
• Company insiders sold a total of 24,634 shares worth $13.8 million last quarter — including CEO Patrick W. Smith's sale of 10,000 shares — leaving insiders with 4.40% ownership.
• Axon recently beat quarterly EPS and revenue estimates (EPS $2.15 vs $1.60 est.; revenue $796.7M) and carries a consensus Moderate Buy rating from analysts with an average price target of $762.93.

Prudential PLC grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 11.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,032 shares of the biotechnology company's stock after acquiring an additional 3,400 shares during the quarter. Prudential PLC's holdings in Axon Enterprise were worth $24,423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AXON. Comerica Bank boosted its holdings in Axon Enterprise by 5.0% in the 3rd quarter. Comerica Bank now owns 77,426 shares of the biotechnology company's stock valued at $55,564,000 after purchasing an additional 3,713 shares during the period. Nicolet Advisory Services LLC grew its position in shares of Axon Enterprise by 4.6% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,587 shares of the biotechnology company's stock worth $1,134,000 after purchasing an additional 70 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Axon Enterprise by 75.0% during the third quarter. Brown Brothers Harriman & Co. now owns 203 shares of the biotechnology company's stock worth $146,000 after purchasing an additional 87 shares during the period. Chesapeake Capital Corp IL acquired a new stake in shares of Axon Enterprise in the third quarter valued at approximately $1,076,000. Finally, Glenmede Investment Management LP raised its position in shares of Axon Enterprise by 5.8% in the third quarter. Glenmede Investment Management LP now owns 1,863 shares of the biotechnology company's stock valued at $1,337,000 after buying an additional 102 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AXON shares. Piper Sandler reduced their price target on Axon Enterprise from $753.00 to $690.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 25th. Barclays cut their target price on Axon Enterprise from $702.00 to $682.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. William Blair restated an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Wall Street Zen raised Axon Enterprise from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, Robert W. Baird set a $800.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and an average price target of $762.93.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $500.24, for a total value of $5,002,400.00. Following the completion of the transaction, the chief executive officer directly owned 3,090,997 shares in the company, valued at approximately $1,546,240,339.28. This represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jennifer H. Mak sold 1,500 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $573.45, for a total transaction of $860,175.00. Following the transaction, the chief accounting officer directly owned 12,240 shares of the company's stock, valued at $7,019,028. The trade was a 10.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,634 shares of company stock worth $13,803,095 in the last quarter. 4.40% of the stock is owned by insiders.

Axon Enterprise Price Performance

Shares of AXON opened at $496.18 on Friday. Axon Enterprise, Inc has a 12-month low of $396.41 and a 12-month high of $885.91. The business has a 50-day simple moving average of $531.08 and a two-hundred day simple moving average of $610.44. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock has a market cap of $39.89 billion, a PE ratio of 326.44, a PEG ratio of 10.66 and a beta of 1.46.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.55. The firm had revenue of $796.72 million for the quarter, compared to analyst estimates of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The business's revenue for the quarter was up 38.5% on a year-over-year basis. During the same period last year, the firm posted $2.08 earnings per share. Analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.